Protection: Home and financial health go hand in hand | Special sections

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Megan Canaday


If you think that homeownership and paying for medical care are unrelated, think again.

Especially if you are 65 or older.

Almost 80 percent of seniors own their homes, but a surprising 41 percent of them still make mortgage payments. This can lead to financial problems for the elderly who fall ill and cannot pay their medical bills, even under Medicare.

Megan Canaday of Canaday Agency Senior Solutions, an independent Medicare insurance broker at Festus, provides expert assistance to seniors on this and other health coverage issues.

Canaday offers the full line of Medicare Advantage and supplement plans and options from all of Missouri’s major Medicare insurers.

These plans provide important protection, especially since about two-thirds of personal bankruptcies in the United States result from unpaid medical bills.

“Real estate is about the home, but your home is also about your insurance, your personal decisions, things like that,” Canaday said. “You protect your home with home insurance; you also need to make sure that you protect yourself too.

Canaday launched her agency in March 2020, and despite the COVID-19 pandemic, business “has gone very well,” she said. “I’ve been as busy as I can get.”

She’s also back to the face-to-face meetings that most people prefer.

“People (have) so much information to grasp that they want to be able to sit down and talk to someone,” she said. “It’s the consultation process, individually, because everyone is different. I don’t charge any fees. I get commissions, so I never have a cost to the customer.

Canaday urges seniors to check their coverage annually, prior to annual Medicare enrollment, from Oct. 15 to Dec. 7.

Canaday can be reached at 636-232-3139 or by email at [email protected]

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