What is insurance of senior citizens?
Best insight from top research papers
Insurance for senior citizens plays a crucial role in ensuring access to healthcare and financial protection. In various countries like Nigeria, South Korea, and the United States, different insurance programs have been implemented to address the healthcare needs of the elderly population. These programs aim to improve the quality of life for seniors, reduce the burden of care on families, and provide financial protection against out-of-pocket health expenses. For instance, the Senior Health Insurance Program (SHIP) in Nigeria and the long-term care insurance system in South Korea have significantly benefited elderly individuals by enhancing health coverage and reducing financial hardship. In the U.S., Medicare plays a vital role in providing coverage for medical care expenses for almost all elderly persons. Overall, insurance for senior citizens is essential for promoting healthy aging, improving healthcare access, and reducing financial risks associated with healthcare expenses.
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| Papers (5) | Insight |
|---|---|
Open access•Journal Article | Elderly persons in the U.S. are predominantly covered by Medicare, which includes Part A for inpatient care and Part B for outpatient services, with high coverage rates influencing healthcare utilization patterns. |
| Insurance for senior citizens, specifically indemnity private health insurance, is influenced by economic factors like family size, education, pension status, income, and disability status rather than demographic characteristics. | |
| Financial protection for elderly in healthcare is crucial. Older households face higher financial risks from out-of-pocket health expenses, especially the poorest. Improving coverage and targeting is essential for their well-being. | |
| Long-term care insurance for the elderly aims to enhance their quality of life, reduce family caregiving burdens, and address medical needs, ultimately decreasing societal costs related to elderly medical expenses. | |
3 Citations | The Senior Citizens Health Insurance Programme (SCHIP) in Nigeria is a policy framework aimed at providing universal insurance coverage for the elderly to promote healthy aging. |
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