Monday, November 3, 2014

Boomer Watch: The Boomer's Changing Needs - Reviewing Your Health Care Coverage

As we get older, our needs and priorities changes especially in terms of health and spending priorities. In line with this, the plans that we made years ago needs constant review and changes as well so we can keep up with the stages in our lives.

Photo credit: Boomer Cafe

Being a baby boomer living in a fast paced environment, retirement planning becomes more significant to make sure that you do not outlive your savings. The seemingly increasing number of baby boomers reaching retirement may pose a threat to the country's economy as majority of them develop health conditions that requires expensive treatment. If you think your are one of the boomers who did not maintain a healthy lifestyle, then there may be a need for you to revisit your retirement plan and make some changes in it. Do you have health insurance? How about long-term care insurance? It is not enough that you rely on medicare or assume that the affordable care act will take care of your health needs.

Originally, medicare is supposed to cover some but not all of your health care expenses. With medicare's open enrollment season, boomers have the opportunity to review their coverage and make changes to their medicare's health plan. Please note that even with medicare supplement policy or medicare advantage plan, it will not cover your long-term care needs.

Booomer Cafe tells you what boomers need to know about medicare open enrollment period so you can make changes to your medicare plan based on your current situation.

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