of them are fortunate enough to own their homes free and clear, the statistics do not show that many of them are “land rich and cash poor.” The statistical picture that has been compiled in recent years reveals that 8 in 10 of the elderly reported having a medical condition, with more than half experiencing high blood pressure. Other conditions identified in surveys included arthritis, diabetes, heart ailments, impaired vision,
Insurance Plan. It is still a young plan and not intended to be the only source of income for the retired.
Many women from that era were homemakers and their husbands were in jobs that did not offer pension plans. When they retired they did not have pensions or health insurance and found themselves in the terrible situation of living on meager savings in a country with one of the highest
Most senior citizens lose their private major medical insurance when they turn 65 or retire. Few companies allow retired
employees to stay on in their group plan. To fill the void for them and others, the government created a public alternative to private health care called the hospital insurance plan (HIP). The government currently spends between $50 and $70 million a year on HIP for seniors.
reported that their health insurance was not adequate for doctor’s visits or medications. Anxiety amongst the elderly is also on the rise. According to the study, the majority of both younger (69%) and older (66%) seniors were worried about their ability to manage or cope with health problems in the next few years. The government recognizes the need to ease these ongoing cost challenges but its recent steps have only helped to keep senior citizens’ heads above water. Their struggle to stay afloat continues. In 2007/08, for example, the government passed increases in government pension plan benefits and added benefits to HIP but these increases were matched by rises in the cost of living.
Beyond these measures, there are hundreds of elderly people who are uninsured or under-insured and who often have to sacrifice food or medicine to pay health insurance premiums. Many have no recourse but to turn to government for financial help.
mobility difficulties, back and spine problems, obesity, cancer, asthma and Alzheimer’s disease.
In a reflection on these findings,
8 in 10 senior citizens are on prescription drugs and one third take over-the-counter drugs. It is a challenge common to all societies when the cost of prescription drugs continues to rise. Bermuda is no exception, with many of the elderly – particularly those without health coverage – forced to make cuts in other essential items to secure medication.
Many of the elderly in Bermuda are disadvantaged given that they did not have the benefit of retirement plans. Most were not part of any pension plan until 1968 when the United Bermuda Party (UBP) Government created the Bermuda Government Social
Opposite: The streets of Bermuda; Above: Bermuda has a vibrant and growing seniors population.
cost of living in the world. Bermuda governments’ recognized the vulnerabilities of the aging population and over the years tried to provide cushions to ease their living costs. These included subsidized hospital care, a $1,250 annual allotment for prescription drugs for hospital insurance plan subscribers and free hospital care for the indigent. Other measures included across- the-board exemptions on land tax, exemption from passport fees, free bus and ferry rides and exemption from vehicle licensing and registration payments.
Another couple of millions are paid to help seniors who need to be transported off the island for care which is not covered under HIP. Despite filling that critical void in coverage HIP has its limitations. It provides the elderly with coverage for only four doctors’ visits a year and $1,250 a year in prescription benefits among other benefits. The monthly cost of HIP to seniors is $174. The poorest senior citizens living on a non-contributory government pension of about $400 a month cannot afford this plan nor can those who earn under $12,000 a year.
A survey conducted in 2004 by
Fordham University called “Ageing in Bermuda” showed that a considerable percentage of younger senior citizens (65-79) and older senior citizens (80+)
Future care for the future? One possible solution on the horizon is a healthcare plan called ‘Future Care’ extending full coverage to seniors over 65. The aim of the plan is to provide services to senior retirees at the same level they were receiving while employed. Dental care is also to be part of the plan.
In describing the plans for the future, the Health Minister, Hon. Nelson Bascome, said that while HIP was “one part of the hospital insurance plan that seniors can sign up for…Future Care will allow them to have full coverage again”. The Minister, however, has stressed that the government has no idea what the cost will be or how the cost of Future Care would be covered until actuarial studies are completed. The government has not given a date for the completion of the studies. The Future Care plan was
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