ANALYSIS: How Can Seniors Cope with High Medical Costs?

Realize the severity of the health pinch the nation is facing. Many complex factors now converge, exacerbating medical and insurance matrices.

For example, postponed medical care during the COVID-19 pandemic has reached a breaking point. Insurance companies and government planning agencies miscalculated the rapidly growing medical, drug, and psychological needs of the public.

Today, a major carrier told insurance brokers it had 6 managers for South Carolina and maintained an office last year. Now he is the lone manager, and he works from home because there is no office. Most of its plans do not offer a sales commission. Brokers know that this streamlining is unprecedented.

Many complex factors drive up medical and pharmaceutical costs while also increasing patient demand.

If healthy people see the disaster, the sickly and the elderly feel the pinch even more.

What can a consumer do to brace for the fall from security?

Review Medicare Plans Each Year

See a broker who carries many carriers, not a captive agent locked to one company. In this way, you can see what other carriers offer.

Optimize your wellness by exercising your body and mind.

Consider why doctors prescribe each medicine. Ask if lifestyle changes can eliminate or reduce the need for some medicines. Then make appropriate changes, like eating more plant-based foods, cutting out sugary drinks, walking or cycling, lifting light weights, stretching, and socializing.

Become a studious and more serious steward of your well-being.

Sharpen PC Skills

Computer skills help you save on medication, use telehealth visits adroitly, and otherwise stay healthy and informed.

Understand Your Insurance Plan and Stay in the Network

Have a close relative listen with you to the sales presentation so you understand plan details, stay in-network for maximum savings, and get the greatest benefit.