If you’ve watched the news or read the paper in the last several years, you’ve likely heard politicians talking about single-payer health care, also known as Medicare for All. If this system goes into effect, the government would be in charge of health insurance. It would cover all Americans, regardless of their income level, employment status, or age. This is largely touted as something that can help people of working age, but it also has huge benefits for seniors.
As people age, they can’t help but worry about retirement, and health care is one of the biggest concerns. Couples spend an average of $275,000 on medical costs after retirement, putting major stress on funds that they initially saved to enjoy their golden years.
Under Medicare for All, Americans wouldn’t have to pay for huge medical bills entirely out of pocket. The money saved could be used freely on other expenses that people encounter, such as home repairs and vacations. The financial freedom provided by Medicare for All is a selling point for seniors as well as younger Americans who are already looking toward retirement.
When people obtain Medicare, they usually pay for supplemental plans to cover hearing aids, dental, and vision care. Medicare for All would cover all three, so Americans would be able to save money this way as well. Americans could use the money they would normally spend on hearing, vision, and dental procedures for other services.
If the United States adopts a single-payer system, it’s likely that Medicare recipients will have access to more doctors and hospitals. That means they will have more control over their care. They would be able to select their medical providers instead of choosing someone based on network status.
This is important for anyone, but especially for seniors. Seniors need to have more autonomy over their health care decisions so that they can maintain their health.
If you’re between the age of 50 and 64, you might fall victim to the “age tax.” The age tax refers to the higher premiums that many insurance companies charge people as they age. The idea is to lower insurance costs across the board by charging seniors more. This is an undue burden for seniors that will be eliminated with Medicare for All. Seniors won’t have to pay more to receive health care coverage, making it more likely for them to get the care they need.
Medicare for All isn’t available yet, but that doesn’t mean you can’t find affordable Medicare coverage. Speak to a licensed insurance agent at MedicareHealthInsuranceFacts.com calling (877) 829-1109 or compare policies online. You’ll find the right policy for your needs in no time at all.