Travel Medical Insurance
For many seniors, retirement means vacations, traveling and relaxing.
Unfortunately, many seniors don't realize the importance of travel medical insurance for both domestic and international vacations. While your health insurance may cover all your needs at home, you've got to think about worst-case scenarios when traveling, just so that you can be better prepared to meet them.
While no one likes to think about an accident occurring while they're traveling, bad things do happen. Seniors are especially vulnerable to changes in environment, stress, and accidents. Something as little as a stumble over a curb can turn into a broken knee or displaced hip. Be prepared for such incidents by researching and obtaining travel medical insurance or travel health insurance before you go anywhere.
Travel insurance is also designed to provide international travel insurance coverage in the event you need medical or other health care while traveling abroad. Travel medical insurance or senior travel insurance will protect seniors traveling the globe and offer both physician-based services and hospital coverage, surgery care, prescription drugs and office visits, just to name a few.
Seniors traveling to different destinations around the world can get coverage for one trip, or opt for long-term international medical insurance. Short-term or single trip health insurance and accident plans offer a number of options, limits and deductibles. Such short-term policies can cover your medical needs for trips lasting up to six months and are designed for individuals up to 84 years of age.
In many cases, such insurance covers pre-existing conditions and cover your basic medical services as well as medical evacuation back to your origination point when necessary.
For example, HTH Worldwide, one of the largest providers of international travel medical insurance, offers what they call a Travel Gap single trip plan policy. Maximum benefits for a single person per policy range between $50,000 and one million dollars and offer relatively low deductibles ranging between $100 and $500.
Services for such policies include but are not limited to:
Senior travel insurance policies also offer medical evacuation, expenses to bring one family member or individual to the patient's bedside, as well as accidental death or dismemberment benefits. Policies also cover the transportation of remains back to the United States or the point of origin in the event of death while traveling. While no one likes to think they'll require serious medical care or that they will experience a catastrophic or terminal event while on vacation, such factors must be considered into any seniors travel plan.
Some travel health insurance providers require individuals to currently have a health insurance policy in place in their country of origin while others don't. In most cases, seniors will be able to determine the choice of their medical limits and deductibles.
International or travel insurance health care costs are surprisingly reasonable. For a one million dollar travel insurance or international medical coverage plan with a $250 deductible, individuals between 60 and 64 years of age may pay an average of $5.00 per day for medical coverage. Most international medical travel insurance health care providers offer coverage to individuals up to 84 years of age, and sometimes older. Costs naturally increase as the individual ages, and a 70 to 74 year old may pay roughly $7.50 a day for coverage.
Research your options when it comes to international medical or travel health insurance coverage when you're traveling, whether you're planning a quick trip to Mexico or an around-the- world cruise.
Price ranges, options, limitations, exclusions and benefits will differ between travel health insurance companies and providers, so take the time to research your options and compare costs, coverage, and limitations.
Encourage your parents, or yourself, to utilize travel health insurance anytime you travel beyond your borders. Just because you're on vacation doesn't mean you can forget the basics or take chances with your health, or with the health and wellness of your loved ones.