Learning More About Medicaid And Funeral Expenses
The government-backed insurance program Medicaid is a lifeline for many within the United States. This program was created to provide an option to low-income individuals, or those with pre-existing conditions that make private insurance difficult, so they can receive the medical care they need at an affordable price. While Medicare is funded on a federal level, it’s actually the individual state that determines what Medicare may cover and what it may not. Medicare programs and the individuals they may cover will vary from state to state.
Medicare is another federally funded program that covers certain individuals in their health insurance needs. While Medicaid typically covers low-income individuals, Medicare covers elderly people, pregnant women, and those with disabilities.
Government Insurance Programs And Burial Insurance
Government insurance programs are a necessity for many in the United States. They allow them to get the medical care they need affordably, and in some instances, they make life-saving care a feasible option where it may not have been one before. While these programs do cover quite a bit, what they do not cover is burial insurance. As of today, neither program will cover the costs associated with funeral expenses, which can cost in excess of $10,000 per the 2019 average.
What You Can Do To Lower Funeral Expenses
For those using Medicare or Medicaid government-backed insurance plans, there are things you can do to help to lower your funeral expenses outside of your health insurance plan. A few methods include:
- The Social Security Death Benefit – For those who have previously qualified for social security benefits, there is a one-time $255 payment available for funeral costs. This will be paid in the form of a lump sum to the spouse or child of the deceased some time within the month of the deceased’s passing. While this $255 may offset costs a bit, it’s a mere fraction of the cost of a funeral.
- Low-cost cremation – Some facilities may offer low-cost cremation services to those unable to afford burial or the standard cost of cremation. These are often done on a sliding-scale level and may not be suitable for those who would prefer burial over cremation.
- Burial insurance – Burial insurance is the best way to prepare for the costs associated with your funeral, and low fixed-rates ensure that burial insurance remains affordable. Burial insurance will cover the full cost of a funeral, including the preparation of the body, the burial or cremation, funeral home costs, and all associated memorial services. With burial insurance, families are left prepared without the worry of a financial burden.
While Medicare and Medicaid insurance policies do not cover funeral expenses at this time, there are options for those who use these services to ensure their passing does not become a burden to their loved ones. To learn more about the process of burial insurance, and what burial insurance can do to help you and your family, contact us about our burial insurance plans today.