Monday, October 15, 2007

Medical Insurance For Retired People

Medical insurance for retired persons usually brings Medicare to mind, but gaps in Medicare coverage need to be filled by another carrier. Otherwise, the additional expense will come directly out of the retiree's pocket. Medicare is the main medical insurance for retired people in America. For some, it is all they have. If an American citizen was employed for enough years for one company to be eligible for their retirement benefits, that person may not need supplemental coverage. Most companies of any size continue medical coverage for their employees after they retire from the work force. For those who worked for smaller companies or didn't stay with one employer long enough to receive retirement benefits, a so-called "medigap" insurance will be necessary.

Military personnel retiring from active duty are eligible for Tricare, the medical insurance for retired persons who retire from active duty. Family members, including spouses, children, and step-children, are also covered under Tricare. In the case of divorce, the step-children are not covered unless they were adopted by the retired military person. The children are covered by this government plan until they reach age 23 or graduate from college, whichever comes first. Those children who do not go to college become ineligible on their 21st birthday.

The Internet has many resources that list agents and companies who offer medical insurance for retired people. There are so many, in fact, that potential consumers need to be extremely cautious and diligent in their research. The Better Business Bureau will provide information about any complaints filed against these companies and their assistance is widely used. Group rates are always better than those offered to an individual, so going through an organization such as AARP for medical insurance will most likely save money. They even offer long-term coverage in the event of a lengthy illness or injury that takes the insured beyond the terms of Medicare.

There are things Medicare does not cover that are commonplace among retired citizens, so they must be included in the supplemental medical insurance for retired people. For instance, Medicare does not cover an eye exam unless a disease is suspected and the exam is performed by an ophthalmologist. Medicare will not cover eyeglasses at all. Another classification of problems not covered by Medicare is dentistry. Medicare is brought into play only if oral surgery is involved. Medical insurance for retired persons is a necessity, and Medicare doesn't do it alone. Scripture has no mention of insurance in our old age, but some things haven't changed from ancient times: "Thus saith the LORD of hosts; There shall yet old men and old women dwell in the streets of Jerusalem, and every man with his staff in his hand for very age." (Zechariah 8:4)

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