Non Medicare seniors

Discussion in 'General Insurance Agent Discussions' started by The Rabbi, May 6, 2008.

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  1. The Rabbi
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    The Rabbi Well-Known Member

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    In Florida I get calls for health insurance for over 65 without Medicare. Other than a discount plan, anyone have any ideas? Their children bring them here to retire.:cool:
     
  2. midwestbroker
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    midwestbroker Well-Known Member

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    I do not know of any carrier of regular major medical insurance that writes past age 64.

    Group insurance would be about the only way to go that I know of (back to the workforce they go...)
     
  3. HomeService
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    HomeService Well-Known Member

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    Guarantee Trust Life has one, but is basically a hospital indemnity with little or no doctor coverage. It's meant to be a supplement to MA plans.
     
  4. The Rabbi
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    The Rabbi Well-Known Member

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    Why is there a need to supp MA plans? Sounds like over-insuring.:cool:
     
  5. retread
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    retread Well-Known Member

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    You mean these people never worked in their life? If they are independently wealthy, they can pay their own way. If they are indigent and have no money, they can apply for state aid. Otherwise, if they worked at least 10 years in their life, they have Medicare automatically, whether they ask for it or not. If you are talking about Part B, then that's another story. We need more info about just who these over 65s w/o Medicare are.
     
  6. glrocky
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    glrocky Member

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    They could be foreigners who would be ineligible because they haven't worked the required 40 quarters. I talked to an Australian last month who moved to this country with his American wife. I believe there was an earlier post on a Lloyds of London policy that might address this need?
    :biggrin:
     
  7. retread
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    retread Well-Known Member

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    Legal aliens with the required work visa can buy into Part A after 5 years residency, but this does not square with the comment "their children bring them here to retire".
     
    Last edited: May 8, 2008
  8. retread
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    retread Well-Known Member

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    Let me back up a bit here. In the event (I assumed it was rare... perhaps more often than I realize) someone does not sign up for "Medicare" more than 3 months beyond their 65th birthmonth, they must wait until the General Enrollment Period, which is Jan1 to Mar31. Their coverage then begins Jul1 of that year.

    It is hard to believe that in this day and age of communication that there would be many who did not get at least one of the letters from the SSA around their 65th, reminding them to sign up. Most people sign up for Soc Sec retirement benefits at 62... and they are automatically enrolled at 65. For those who wait until 65 to draw their retirement, SSA sends them many, many letters. Then there are the Medicare Insurance carriers and agents that can't resist spending money on direct mailers..... arg-g-g-g-h!

    BUT, I just had a lady call me yesterday wanting to sign up for part B, and she is 67. This is the case because she just retired, and delayed her B at 65. If this is the scenario RABBI is speaking of, then you have a good market opportunity!!

    Be precise when you say "Medicare"... it has 4 parts. Everyone who works 40 quarters (and pays their taxes) is entitled to Hospitalization, because they have been contributing to the HI Trust Fund all that time. Part A is "Medicare", so is Part B, Part D, etc.
     
    Last edited: May 8, 2008
  9. The Rabbi
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    The Rabbi Well-Known Member

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    The people in question have never worked in the USA. Florida is full of immigrants being that Miami is a port city.
     
  10. retread
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    retread Well-Known Member

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    This goes back to my post about legal aliens who have rights to purchase Medicare Part A after 5 years residency.

    Other than that, a lot of aliens buy mini-meds. Some until they qualify for Medicare, others until they leave and go back home.
     

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