Low Income Health Insurance for Seniors

Many seniors may not be receiving the care they need because of their low-income status. Fortunately, there is a low income health insurance for senior citizens. Senior Citizens who have a low-income may be able to qualify for supplemental security income (SSI). This financial assistance can be a great relief for seniors who are struggling with their finances due to aging costs.  There are sources of companies who provide low income health insurance for seniors.

If your loved one is 65 or older, is disabled or blind, and has low-income and few assets, then they will be eligible for Supplemental Security Income (SSI). SSI is a monthly cash benefit to low-income seniors who may or may not own their own home. If the senior receives an income of $1,500 each month or less, they will be eligible for SSI. Each month the senior will receive a benefit amount of $300-$1,000, or $500-$1,200 for couples. The exact amount of payment depends on the state the senior lives in and how much other income they receive. It is worth applying for even if you make roughly $1,500 each month, as each state differs in the amount a senior can make.

To qualify for SSI, seniors may have less than $2,000 in assets, or $3,000 for a couple. SSI does not count a home, a car (with a market value less than $4,500), household goods or personal property (no more than $2,000), wedding or engagement rings, life insurance policies (up to $1,500/person), or burial spaces/ burial funds (up to $1,500). If your senior loved one has few assets, they should consider applying for low-income health insurance.

Seniors are able to apply at any Social Security Office by making an appointment, but they will need a few things to apply. They will need their Social Security Number, Proof of Age such as a birth certificate, documents that show all income including bank records and tax returns, documents that show financial assets such as stock certificates and car registration, documents that indicates the seniors living arrangement such as mortgage documents, confirmation of homeowner if living with relatives, or rental agreements.

If you should have any questions, call the Social Security Administration. Also, you may want to consider going with your senior loved one to file for Supplemental Security Income as there are many documents and forms needed. Fortunately, there is help for seniors who are low income and need health insurance.

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One Comment

  1. Posted June 15, 2011 at 12:16 am | Permalink

    Great post. With the insurance arena in a crunch due to the economy its nice to see that the elderly are still cared for. Ssi is a wonderful way to still be covered medically once retirement or a disability has kicked in. Tulsa insurance has been helping people connect with insurance policies for years and the elderly is no different. The coverage is out there, you just have to know what to look for.

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