After years of clocking in for a paycheck and being constrained by a to-do list, retirement is thought of as a time of less stress and endless relaxation. Unfortunately, that idea of retirement can quickly change with news of a diagnosis or illness. Even the healthiest bodies will deteriorate through time and healthcare expenses are likely to come.
The future is unpredictable. Make sure the seniors in your life are prepared to face these 5 healthcare expenses! Share on X
Expenses to Consider
Whether you’re planning for yourself or your aging parents, the future can be unpredictable. As you prepare to settle into this next season, it’s important to anticipate what health issues are looming. Make sure you’re ready to encounter these 5 senior healthcare expenses:
- Dental Care Services
- Hearing Aids
- Eye Surgery
- Assisted Living
- Medical Prescriptions
1) Dental Care Services
As you age, the chances of your gums receding or tooth decay developing increases. While regular cleanings may not be expensive, dental implants, dentures, or other procedures can add up quickly. While you can sign up for Medicare insurance after turning 65, preventive dental care is not covered by medicare. To ensure you’re prepared, research what private insurers are available for the dentists in your area and compare them according to your needs.
2) Hearing Aids
According to research, nearly 25% of adults between the ages of 65 and 74 have a disabling hearing loss. While hearing aids are the best way to remedy hearing loss, they’re also the most expensive with a pair costing an average of $4,600. Be sure to check with your health insurance to see if hearing assistance is covered.
3) Eye Surgery
While you might already maintain your vision with glasses or eye prescriptions, vision care can almost double as you enter retirement age. From cataracts to retinal disorders, you could be faced with needing eye surgery costs as your vision declines. Most medical care requires supplemental insurance to cover eye exams or procedures. Make sure you’re aware of what will or won’t be covered for long term care.
4) Assisted Living
Instead of entering a nursing home, senior adults are increasingly joining assisted living communities in their later years. The family environment and comfortable spaces provide seniors the ability to relax without the pressures of home maintenance. As you choose the right living space for yourself or your family members, be aware of what monthly or annual fees might be required.
Pro Tip: Give your loved one the independence they deserve with an assisted living cottage. With a number of locations to choose from, you can prepare your family for retirement age.
5) Medical Prescriptions
Depending on your insurance, prescription drugs may not be covered. Medicare Part D, specifically pays for some medications but not all, which forces seniors to pay out-of-pocket for medicine they can’t live without. With all of the health issues looming, that could be problematic especially for those on a low income. The Kaiser Family Foundation reported that more than 50% of elderly individuals take a minimum of 4 medical prescriptions. Check with your healthcare provider to see what type of prescriptions will be covered in the future.
Peace of Mind
A new season is beginning as your loved ones age. Instead of being surprised by future health issues, schedule regular preventative care and be sure to visit the doctor often. Quality time is one of the most neglected ways to care for seniors, but doctors agree it can make a world of difference in the state of their health.
Give the senior citizens in your life peace of mind by helping them navigate retirement. Connect with us on social media for more information.
