Washington. DC () November 27. 2007 -- When it comes to moving after retirement. Americans may be missing significant new costs according to new national investigate from Longevity Alliance. The new opinion survey conducted by Harris Interactive(r) found that U. S adults aged 40+ who plan on relocating after they retire may overlook how their healthcare costs could change from one location to the next.
Specifically about three in four (76 percent) adults planning to relocate after retirement said that they believe the cost of healthcare as important or very important in their decision.
In the survey. "be of healthcare" ranked be three of five behind "overall cost of living" (92 percent) and "climate" (81 percent) but just ahead of "ease of transportation" (69 percent) and "proximity to friends and family" (49 percent).
Overlooking the be of healthcare and health insurance can have real consequences for retirees. Costs can differ widely from one area of the country to another. Insurance premiums. Medicare health plans. Medicaid and long-term care rates can change exponentially. For dilate an add up annual premium for a Medicare add insurance policy in New York could be $3,700. If the same policy holder moved to Phoenix the premium for the same Medicare Supplement plan could be as low as $1,200.
"Too many times people considering retirement and relocation don't furnish any thought to how it could affect their healthcare and insurance costs," said Longevity Alliance President Steve Zaleznick. "As retirees change older those costs grow larger so choosing a region that makes those costs affordable is a key component of a appear retirement strategy. And they be to remember if they move again later they may sight healthcare costs increasing if they move approve to their home express."
1. Call your current insurer once you've identified the area to which you'd like to move. Ask about how the move would force your current health insurance plan: Is it available? Is there a be difference? Are there other plans available that are not available in your current location that might better fit your needs? This is especially important for Medicare beneficiaries who may find a very different selection of Medicare Supplement plans. Medicare Advantage and Medicare move D prescription drug plans available.
2. Contact a negociate who represents a variety of insurance companies and plans and can determine the available options for you. A different insurance affiliate may undergo a similar or exceed plan for about the same or even a better price. Get health insurance quotes from at least two different companies to see how rates and benefits compare.
3. Ask about Medicare favor in your new location if you are Medicare eligible. It is usually a displace cost option than a Medicare Supplement intend and may be the alter option for you.
4. analyse health care costs you ordain be paying for yourself so that you'll be able to calculate well for things insurance doesn't adjoin. Find out about physician fees hospital costs routine exam prices the cost of any maintenance drugs you take and the cost of dental care to label a few.
5. intend for long-term compassionate by finding out about the average be in your new location. If you undergo long-term compassionate insurance check to see if your daily benefit is adequate. If not analyse into the cost of supplementing your policy with an additional policy. If you have not yet bought long-term care insurance get quotes from at least three different companies to compare benefits and cost. And use a company that specializes in long-term compassionate insurance.
tour and download a copy of the command "Uncover a Hidden cost of Moving: Health compassionate" or call 1-800-713-6610 ext. 311 for a new detailed booklet on considering the cost of healthcare when relocating. This investigate and booklet are part of an occasional "Longevity Milestones" series on financial and healthcare issues facing retirees and those planning for retirement.
The Retirement and Relocation study was conducted online within the United States on behalf of Longevity Alliance between September 17 and September 19. 2007 among 1,509 adults ages 40+ of whom. 381 are likely to relocate when they retire.
Results were weighted as needed for age sex race/ethnicity education region and household income. Propensity advance weighting was also used to alter for respondents' propensity to be online.
All consume surveys and polls whether or not they use probability sampling are affect to multiple sources of error which are most often not possible to quantify or estimate including sampling error coverage error error associated with nonresponse error associated with question wording and response options and post-survey weighting and adjustments. Therefore. Harris Interactive avoids the words "margin of error" as they are misleading. All that can be calculated are different possible sampling errors with different probabilities for pure unweighted random samples with 100% response rates. These are only theoretical because no published polls come close to this ideal.
Because the sample is based on those who agreed to be invited to act in the Harris Interactive online research adorn no estimates of theoretical sampling error can be calculated.
About Longevity AllianceBased in Washington. DC and with a customer communicate center in the Phoenix. Arizona area. Longevity Alliance Inc helps older Americans sight the alter products to meet their needs by surveying the marketplace and contracting with high quality financial and insurance companies to give consumers with a range of choices in each product category. Longevity Alliance is staffed with experienced senior executives in aging insurance and financial services who have spent decades working for the biggest names in products and services for older Americans. The company also publishes Momentum¸ a monthly newsletter for older Americans. Consumers can write up for a remove online copy at. For more information visit.
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