AARP Early Retirement Health Insurance For Elderly
It is very difficult to obtain private medical insurance for the elderly. As you get older, it becomes more common for commercial insurance companies not to want to cover older Americans.
Early Retirement Health Insurance For Elderly
Since the creation of Medicare, there is no incentive to cover seniors because most buy in the Medicare system in some way. Although this may be true.
There are still some older Americans who need to buy private early retirement health insurance options. So let’s take a look at some of the main reasons why getting elderly health insurance for them can be difficult.
Your age is a dominant factor.
There are several reasons why older people cannot get senior health insurance coverage. For starters, many health insurance companies consider your age. When people begin to exceed 50 years, they are more likely to have more diseases, see the doctor more frequently and may have more hospitalizations. Therefore, the risks of insuring an older person far outweigh the benefits. We all grow old, why is this such an important factor?
The cost of insuring an older person is high.
Due to the fact that older people are prone to so many conditions and will need so much attention. There are many companies that consider them a great risk. The average hospital stay of a person over 50 years is longer than that of a person between 20 and 30 years. Younger people heal and recover much faster than older adults, so their cost per treatment is lower. Insurance companies know approximately how much they have to pay for each age group and take all these things into account when setting the price of early retirement health insurance options policies.
Pre-existing conditions are not insurable.
If you have a pre-existing condition such as diabetes or high blood pressure, most of the time it is not insurable. It may be with the new health reform that this will change. However, what does a pre-existing condition tell an health insurance for seniors company? He tells them that you may not do a good job taking care of yourself or have bad eating habits. So why assure someone that he could have avoided such conditions by not drinking, not smoking and not overeating? This may not be fair, but insurance companies are in the business of making money for their investors.
Affordability can be a problem.
The last thing you will find is that many times, older people cannot afford insurance. Even if they find a company willing to insure them, many are retired and have a limited income. The cost of premiums can only consume any retirement check or pension income. Many have to choose between insurance or keep a roof over their heads.
Elderly Health Insurance Quotes
Getting health insurance for the elderly is still a big problem for many. Many have never paid to the social security system and are not eligible for Medicare and early retirement health insurance option is too expensive.
Hopefully, the new AARP health care reform will address many of these problems. Otherwise, what options do these older people have?
If you retire before age 65 and lose your work-based health plan when you do, you can use the AARP Health Insurance Marketplace to buy a plan. Losing medical coverage qualifies you for a Special Enrollment Period. This means that you can enroll in a health plan even if you are outside the Annual Open Enrollment Period.
- AARP Early Retirement Health Insurance For Elderly