It’s an ever pressing issue all over the United States; once you hit those glory golden years, will you be able to pay for your health needs? It’s sad to say there are millions of senior citizens across the nation that may be foregoing on medications or checkups they are in dire need of simply to do the cost, but that’s just a fact of life in America. Even often having the top notch health insurance isn’t enough to help handle the costs of medications or specialists visits. What can you do about this, if anything?
The New York Times has released information on correlating the costs of health needs for seniors this week. Bill Hunter is a retirement strategist for Bank of America Merrill Lynch; who reflects on this issue touching base on the fact that there are just so many unknowns when it comes to how much your health can cost you as you age. You can plan to have your home paid off, even your cars and still have enough in the savings account to get you around for a few years, but it your health catches you off guard with a pending illness or disease, you may require a lot more than you planned for.
Think about the possibility of living in a senior living facility; the costs that are attributed to those amenities and how it could affect your savings. If you plan on living with family, what happens if you are diagnosed with some form of ailment that will require a full time nurse, or will need medications that can be very costly, what is your plan? This has many pretty concerned to say the least, as the price of health care costs continue to rise, with little remorse for who needs care. Supplemental insurance may be one way to start getting a second layer of support, or starting a savings account just for healthcare as early as possible may be another means to secure your health.
Seniors commonly need similar medications, such as Celebrex for aching joints and pains. Many find that supplying themselves with this drug can cost hundreds of dollars per week for their required supply. They can window shop and price compare locally, and even use online certified pharmacies, but for the most part there will still be some cost involved. Some other tips the pros are reporting:
- Use generic drugs whenever possible to save on costs
- Find local physicians that will work with your budget, many charge a flat fee for visits or checkups that you could work with ahead of time
- Look into healthcare clubs such as AARP to gain discounts or insurance to help cover the fees
Always know what you’re getting into as much as possible. If you know you need to find a solid family medical doctor for the future, look at their fees, their hours of operation and see if they will be a suitable fit for your needs and your budget.