Bleeding from rectum. 88 years old with hemorrhoids. Worth it to fix them if health problems?

Colonoscopy okay? Your bleeding problem might be as simple as hemorrhoids bleeding; if so, a rectal procedure can be low risk and offer you a significant benefit. However, with other concerns "age" and "health problems", your bleeding problem might not be simple. See your primary doc, get a colonoscopy and depending on those results, your doc will help you decide the best action.
"Fix" could be easy. It is definitely worth being seen by a specialist for proper diagnosis and a management plan. Some simple diet changes may be all that is needed. Make sure to discuss the risks and benefits in your situation with your specialist before embarking on any interventional treatment.