It can be hard finding good health insurance for seniors, given that premiums can be high for those of advanced age. Also, many seniors are in unique medical situations where “one size fits all” style policies don’t necessarily include the coverage they need.
Here are some critical aspects someone should consider, whenever they’re looking for good health insurance options for themselves or a senior family member.
Four Critical Aspects to Research When Looking for Senior Health Insurance
1- The Maximum Entry Level
Many plans will have absolute maximum ages for offering coverage, after which they won’t allow new enrollments. It’s vital to check the maximum age early on, to ensure you qualify for the plans you’re looking at. Also, be aware that this may limit your options for changing plans, particularly once you’re past 80. Few insurers will take on new customers above that age.
2- Pre-Existing Condition Waiting Periods
Under the Affordable Care Act, insurers now have to offer coverage for pre-existing conditions regardless of severity. However, they don’t have to give coverage immediately. Senior insurance plans will almost always have a waiting period before new enrollees can claim benefits on pre-existing conditions. Know what the waiting period is before you sign up and, of course, try to find the shortest waiting period possible.
3- Scope of Provider Networks
It’s always a good idea to look closely at an insurance company’s provider network, but it’s even more critical when looking for senior health insurance. You want plenty of options in clinics and hospitals, and without having to drive very far. Be wary of plans that offer low premiums but have small networks – you could easily end up out-of-network, and outside your coverage.
4- Premiums vs Deductibles
While not always true, generally speaking, an insurance plan with high monthly premiums will have a low deductible, and vice-versa. It’s usually a good idea for seniors to seek insurance plans that have low ts. Just be certain you have the coverage you need!
Looking for Good Health Insurance for Seniors? We Can Help!
Good & Associates has years of experience exploring insurance options and finding the best possible plans to fit each customer who comes to us. No matter your situation, get a free quote and find out how we can help!