Can you provide health insurance for senior citizens
For senior citizens who are planning on retiring outside of their home countries we would recommend an annual senior citizen international health insurance policy. An international policy has significant advantages over a locally, or domestically purchased plan, one of which is that this type of coverage is often renewable for life. This means that once you have purchased an annual international senior citizen medical insurance plan, you will normally be allowed to renew the coverage for as long as you wish to do so, no matter what age you were when you initially enrolled on the policy.
It is important to understand that the premiums for the global medical insurance policies we work with will generally not be calculated based on your claims history. This means that you are able to claim for as much healthcare as you need, secure in the knowledge that receiving vital medical treatment will not impact the cost of your coverage. International Senior medical insurance options through Pacific Prime will normally use Age as the main variable in calculating a plan’s premium, which does mean that plans will get more expensive as a person ages.
Acquiring a plan earlier will affect your premium age bracket. As international health policy premiums are determined by coverage, location, and age, there are age brackets which determine your overall risk propensity. Generally, a senior citizen is defined as someone who is 60 years of age or older. In some other cases, it is 65 years of age or older. With some of the plans which Pacific Prime offers, if you are in possession of a senior health insurance plan prior to 69 years of age, you will normally be applicable for a flat rate for the 69 age bracket. That means if you are 80, you will still pay the premiums for someone who is the same age and has the same coverage options as someone who is 69. However, if you acquire a plan after 69 years of age, you will follow regular age bracket premium increases at which point could rise substantially.
If the cost of acquiring a senior international health policy may be a problem for you, there are ways which can offer you comfort in securing a policy without compromising the coverage.
You can reduce the cost of your medical insurance plan for seniors by excluding specific areas of coverage. For example, expatriates in America or in Hong Kong have to pay significant amounts for health care because of the general high cost of their medical systems. If you don’t need global coverage then Pacific Prime can help to identify specific regions of the world in which you would like to receive protection, ensuring that you are able to take that plan to anywhere in the world within the coverage area and receive health care. If you are retired and are traveling for long periods of time, this would be a great benefit for you. In addition, if you are interested in medical tourism, this would be particularly applicable. Some countries or areas do not provide adequate health care benefits and the neighbouring country may be able to provide first class treatment. All it takes is a plane ticket there and you can be covered.
Another way to reduce the cost of insurance premiums is through the use of deductibles. Deductibles are also known as excess by some companies and are used to offset the price of your healthcare, and consequently your premium. You can elect to include different levels of deductibles in your policy, or none at all – it is entirely your choice; however, having a deductible will normally mean that you will pay a lower overall policy premium. As an example on how deductibles work; you select a deductible that could be $400, $1600, or $2000, the deductible options will vary between insurers.: If you elected to have a deductible of $400 per year, you will need to pay $400 in coverage before the insurance plan will pay for your claims. If you have an option to go see a general practitioner, and the cost of the practitioner is $500, you will first need to pay $400 and the insurer will pay $100. After that, you will no longer need to pay anything for the rest of the year and the insurer will cover the costs. Deductibles can also work on a per-condition basis: you will need to pay a deductible for every condition, regardless of how much you have paid already; they are generally lower but apply to all conditions. Finally, there is a co-insurance option: if elected, the insurer sets a percentage you must pay for every condition, such as 20% or 40%; the rest will be paid by the insurer. For more information about deductibles please click here.
It is important to acquire international health insurance as early as possible. The reason for this is because as you age, your health will generally deteriorate, sometimes at an increasing rate. If you develop a condition with long term effects prior to acquiring a senior global health policy, you may be unable to acquire a policy, or the premiums may be much higher. Medical conditions which have developed or which were known about prior to the purchase of a senior medical insurance policy are known as a pre-existing condition, and will be handled differently by each insurance company. By acquiring, and remaining on a policy early in your life, you will be able to avoid the uncertainty which accompanies pre-existing conditions under an international medical insurance plan.
The need for specialized healthcare increases as you age. Some countries are not adequate enough to provide you the medical attention you need. In the event of an emergency where you require immediate attention, an option such as medical evacuation under an international medical insurance policy will be extremely useful. If your area is unable to service your injury, your policy will normally cover the costs to evacuate you to the next closest location which can. This could include helicopter costs or ambulance transport.
Another benefit of international health insurance is that it is flexible. As a senior, you may need some benefits and may not need some other. In addition, you may require specialized coverage which some other insurers may not be able to provide. World class health insurance is available through Pacific Prime ensuring that you are covered for your specific situation; in many cases we may even be able to tailor an existing policy to meet your unique healthcare requirements.
Pacific Prime works closely with the world’s leading providers of medical coverage, including some first class insurers. There are a myriad of coverage options which Pacific Prime can offer, including but not limited t
·Inpatient Health Insurance
·Outpatient Health Insurance
·Dental Treatment Insurance
·Emergency Evacuation Insurance
·Vaccinations and Preventative Healthcare
·War and Terrorism Health Insurance
To get started with finding medical coverage that is applicable to seniors and yourself, it is important to speak with our insurance experts. We deal with many different clients with many different requirements, and we are experts in providing insurance advice and offering coverage options. Pacific Prime operates to service you and our clients, and our interests are aligned to providing you the best coverage and advice possible. Speak with one of our trained professionals today by clicking here to reach the contact page. Alternatively, if you would like to simply receive a quote, fill out the quote form at the top of the page and you will receive a quote in a timely manner specific to your needs.
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