Managed care is not, in itself, health insurance. Instead, it is a delivery and payment system for health care services. One of the main purposes of it is to control health care costs. There are many models of managed care, including some designed specifically for Seniors who are on Medicare. This article will discuss a […]
This is a continuation of our series on health insurance plans. Here, we will discuss one of the most common types, managed care. Managed care can be intricate, so it will be explained in several articles. What is Managed Care? Managed care can be very confusing to Seniors and others. Many are used to relying […]
The grim reality is that throughout life, illnesses and accidents occur. They often occur more often as we get older. While it is always best to take good physical care of oneself, some illnesses and accidents can’t be avoided. Treatment for the illnesses and injuries costs money, and often lots of it. That is what […]
In retirement, money (and the allocation of it) is often a bigger issue than it was at other times of your life. Coupled with other financial strains that can happen with retirement, medical issues related to aging can throw limited budgets off course. It can, therefore, help to have an idea (a “best guess”) of […]
Retirement from a career of many years can open a open door to a new world. It may be self-employment, acquiring a franchise, or capitalizing on years of accumulated knowledge by becoming a consultant. Maybe you want a new career. Maybe you need a new career because finances demand it. The reason doesn’t matter. In […]
Awkward and difficult as it may seem, every family needs to have a serious discussion about the unthinkables, and those are the financial, legal and medical decisions that need to be made when something happens to one or both parents. A Fictional Example Here’s one example of why that conversation is so important and it […]
Is there an ideal time to have this discussion that families instinctively want to avoid? (Read our companion article, Why You Need to Discuss the Unthinkable ) After all, who wants to plan ahead for a parent’s death? Certainly neither parents nor children. Proper Timing But there is a best time to tackle this difficult […]
In insurance language, a “claim” is a formal request to an insurance company for payment under an insurance policy. The payment of a claim is subject to the terms and conditions of the insurance policy. Many insurers have online claim forms and instructions to guide you through this process, including uploading certain documentation. Others will […]
Life insurance is complex, and the purpose of this and the other life insurance articles on Senior Care Advice is to simplify it. Specifically, we want to give you the knowledge by which to make smart decisions about obtaining life insurance, keeping what you have, buying more, or letting it go. There is no “one-size-fits-all” […]
Before we get into a full discussion of the cost or price of life insurance, let’s identify and correctly define some terms. “Cost” and “price” are not accurate terms to describe the amount paid to an insurance company for life insurance or for any other kind of insurance. The correct word is “premium.” A “rate” […]