Benjamin Franklin once said: “The only things certain in life are death and taxes.” And more than anyone else, senior citizens are made abundantly aware of these two realities all through their life, which is why Medicare supplement rates and other forms of insurance become more and more important once they’ve hit the age of 65.
Since Medicare does not take care of long term medical costs, most senior citizens have the option of choosing between twelve Medigap plans through several service providers. However, these plans have been devised and implemented by the government throughout the country so the benefits from plans A to L are pretty much the same in every state except Massachusetts, Minnesota or Wisconsin with the premiums ranging from $ 180 upwards to about $ 300. One should review all plans and make a choice on which plan suits you best.
With old age comes the possibility of failing eyesight, and so individual vision insurance also can play an important part in curtailing costs requirement for the procurement of eyeglasses or contacts as well as eye surgery as well. Some plans are as economical as $11, and come with the options of copayments and annual benefits as well that depends on the kind of plan you require.
Burial insurance is another pre-payment option that senior citizens have in order to cover funeral and coffin costs when they pass away. The total costs can range from $6000 to about $10000 and more, and so to prevent this from being a financial burden on their loved ones, it works well for those who know that their time has come.