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Health Coverage for Every Life Stage
Your healthcare needs evolve over time. Here’s when it makes sense to take a closer look at your insurance.
It’s tempting to take a “set-it-and-forget-it” approach to insurance coverage, leaving it on autopilot for years at a time. That may work for a little while, but time catches up to all of us at some point.
Your ideal coverage at young, single, generally carefree 25 may look slightly different at 45 when there’s a spouse, kids, and a mortgage in the picture. And that same coverage may be completely unrecognizable at 64 when retirement and Medicare are on the horizon.
As your life changes, your coverage should too. Take a closer look at five life stages when your healthcare needs might shift.
Young Adulthood
Healthcare may be the last thing on a twentysomething’s mind. But understanding premiums, deductibles, provider networks, and anticipated medical needs now can build a solid foundation for the future.
As young adults strike out on their own — from moving into their first place to enrolling in their own health plan — it’s also a time to take charge of their healthcare. Texas Farm Bureau Health Plans offer younger Texans flexible healthcare plan options to best fit this stage of life.
Pro Tip: Get a head start by brushing up on health insurance terms every Texan should know.
Getting Married and Starting a Family
First comes love, then comes marriage. Before you know it, you’re researching top-of-the line baby carriages. These major life milestones bring new health and insurance considerations. When evaluating plans, look for a plan that covers prenatal and maternity care, pediatricians, and prescriptions. Texas Farm Bureau Health Plans have family plan options that can accommodate your expanding household.
As your family grows, so does the importance of protecting your financial future. Life insurance can help provide financial protection for the ones you love most should something happen to you. Purchasing coverage when you’re younger and healthier may help you lock in a lower premium too. If you’re not sure where to start, a Texas Farm Bureau Agent can walk you through the types of life insurance and answer frequently asked questions.
Career Changes
Job changes can disrupt insurance coverage, but they can also create an opportunity for reevaluation, especially if your new employer doesn’t offer benefits. Texas Farm Bureau Health Plans can help bridge the gap when it comes to health coverage. They’re also a great fit if you’re taking the leap into freelancing or becoming a small-business owner.
Many companies offer life insurance as part of their employee benefits package, which means your coverage may end when you leave the company. Take this moment of transition to secure an individual life insurance policy. That way, your life insurance coverage isn’t lapsing with each new career opportunity.
Midlife
Health needs typically start shifting in your 40s and 50s, when preventive screenings, prescriptions, and chronic-condition management may become more important. A plan that worked in your 20s, when you rarely saw your primary care physician, may no longer meet your needs.
This is also the ideal time to start exploring long-term care insurance options. This type of coverage helps cover medical and personal support services when you’re unable to perform basic everyday tasks, such as eating, dressing, and bathing on your own. But, if you wait too long, you might be ineligible for long-term care insurance by the time it pops back up on your to-do list.
Pro Tip: This handy healthcare checklist can help you get the most out of your health plan at midlife and beyond.
Preparing for Retirement
As you sprint toward retirement, securing insurance for the next chapter becomes critical. Healthcare needs and potential costs should be on your radar — especially if you plan on retiring before Medicare eligibility kicks in at 65. While Medicare provides health coverage for millions of older Americans, it doesn’t cover everything. Medicare supplement plans can help fill some of those gaps. Planning ahead can help ensure your health coverage is ready when you are.
No matter what stage of life you’re in, your Texas Farm Bureau Agent can help guide you. Schedule a 360 Review for a bird’s-eye view of your policies, so you can define — and fill — any cracks in coverage.
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