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Insurance for Baby Boomers – Be the Smartest Buyer for Insurance

Health insurance is a big concern for everyone but even more so for people in the baby boomer generation. Those born between 1946 and 1964 make up about 26% of the population. Even though they control about $1 trillion in disposable income, they are not getting a break from the medical insurance companies. This is because by the time they reach middle age, most of them have been diagnosed with at least one chronic medical problem and insurance companies are not fond of pre-existing conditions. This can make finding affordable health insurance a challenge for people in this age bracket if they don’t already have it.

If they are not outright denied medical insurance because of a pre-existing condition, then they will face waiting periods and even higher premiums. This can put an undue burden on people who are facing retirement where they have to live on fixed incomes. One way to avoid this is to put in the time and effort it takes to find affordable health insurance. The best place to start is with an online health insurance quoting website. You will be able to shop the insurance rates at several companies at the same time to see who has the best price for what you need.

Some people believe it is unconstitutional to force citizens to have health insurance. Others think it will prevent non-paying individuals from abusing the system. Which side is right in the debate. Mandatory health insurance has been the talk of the town ever since President Obama initiated healthcare reform. More importantly, if this does come into effect, how will it affect traditional medical insurance coverage?

You would be surprised at who you can get coverage through these days. You may also want to look into community organizations, such as your church, that may offer discount insurance through a specialized program. Sometimes you can get insurance from them at a much lower premiums than you would get at other medical insurance providers. Another place where you can look for affordable health insurance is through any associations you may be a part of. For example, The American Association of Retired Persons offers both major medical and supplemental health plans for people ages 50 and over.

If you are currently employed, talk to your employer about starting a Health Savings Account (HSA) that allows you to put pre-tax dollars into a special savings account designed for medical expenses. Have patience and be persistent. You will be able to find an acceptable policy in no time. Baby boomers can expect to have to pay some money towards their medical bills. Therefore it is a good idea to begin investing in a medical fund for those times when your health insurance just will not cover the bills.

Sean L Johnson is a journalist for Health Insurance Buyer a referral service that connects consumers to the insurance carriers that can best fit their wants or special needs. Click on lick to access free quote at reduced rates for being in good health

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