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Sunday, February 20, 2011

Finding Private Medical Insurance Carriers for 55 To 65 Year Olds

Qualifying for medical insurance is more costly and harder to find as we get aged. We are more likely to have more serious medical conditions, to have a weight problem and to have our age drive our premiums through the roof.

If you have a medical issue finding health insurance will likely be more difficult no matter how old you are. Health insurance companies might deny coverage. They may charge more. They could eliminate coverage based on your medical history and offer you a policy that won't cover you for the thing you are most worried about.

The best way to overcome the impact of a longer medical history is to improve our health. Sometimes following doctor's orders, improving your diet and getting more exercise can make a difference. Often, however this doesn't help and we have to deal with the impact that the medical problem has on our lives.

If are not issued a plan or have an elimination rider placed on your plan, you should see what the insurance company's competitors would do for you. You may want to accept the plan that is offered to you, but only keep it until you may find something better.

Insurance company underwriting guidelines vary from company to company. For this reason, you should make sure that the insurer that you settle on has the most favorable view of your medical problem. One insurer might deny, another might eliminate coverage for the condition, a third might increase your premium. Yet a fourth company might accept you without a rider and charge you standard rates..

You should also see how close you are to being charged less. Often as a health condition ages, it becomes less expensive to insure. A medical diagnosis earlier this year is likely to result in an automatic denial for an underwritten policy. If the condition was last treated 5 years ago, you might get a policy with standard provisions.

Finding out how close you are to having the carrier approve your plan applies to your BMI or body mass index as well. You may only be five or ten pounds away from a lower insurance rate. Be sure to ask how close you are to a lower rate if your BMI affects the price you are charged.

If you can't find a health care insurance plan that you could qualify for due to your BMI or your pre-existing medical condition, you may be able to get coverage through a state sponsored or federal sponsored contract. You may qualify for a special plan offered by your state. You may qualify for Medicaid or Medicare.

These are important choices, but one should be sure to look at options from private health plans first. Plans offered through the government are have higher premiums or have lower benefits or have fewer doctors and hospitals in their networks.

The impact of age is hard to avoid. Getting older does increase the rates that we are charged for life, health and disability insurance.

A few medical insurance carriers will charge a lower price if the policy is placed in the name of the younger spouse. This can result in substantial savings if your spouse is more than five years older or younger than you.

Whether we are younger or older, finding a good medical insurance policy boils down to finding a good price, a good network and good coverage. The reason for a good premium is obvious. We need a good network so that we can visit doctors that are close to us. A plan should, of course, have good coverage.

It may be harder to get coverage as we age. Our health histories, weight and our ages can all conspire to increase our premiums. This makes finding quality health insurance harder.

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