STUMPED.... Need expert help

[NewHealthStrategies]

I have a 77 y/o Male that has Part A Medicare, but never bought Part B. Of course, he can't get Part B until next year and the penalty will be 220%.

He wants to buy a high deductible "major medical" plan.

He has controlled HBP and $$ isn't an issue.....

Suggestions?

 

[Invain15]

no major medical that I know of will insure someone that age. you may want to post in the senior section

 

[Frank Stastny]

I have a 77 y/o Male that has Part A Medicare, but never bought Part B. Of course, he can't get Part B until next year and the penalty will be 220%.

He wants to buy a high deductible "major medical" plan.

He has controlled HBP and $$ isn't an issue.....

Suggestions?

Do you even know of a company that would write a major med policy on him? I don't and I don't think he can get one.

If the only reason he didn't take Part B when he could have was because he didn't want to spend the money, and now could pay for a major med policy, assuming any company would write one, then shame on him. At this point I would say that 220% is a bargain.

Thought he was "beating the system" by not taking it at 65.

However, if he has been covered by a company group plan since he turned 65 then there would be no penalty and he could get Part B now.

I have run across this before. The part I find interesting is that in most cases the person has the money, just too cheap to part with it.

We all know that "bad things" only happen to other people.

 

[thereaper]

I have a 77 y/o Male that has Part A Medicare, but never bought Part B. Of course, he can't get Part B until next year and the penalty will be 220%.

He wants to buy a high deductible "major medical" plan.

He has controlled HBP and $$ isn't an issue.....

Suggestions?

There is not a company that will write an individual major medical on anyone over 65.

 

[somarco]

All carriers abandoned that market when the govt took over via Medicare. You can possibly find some hospital indemnity plans and even discount plans without age limits. He can also return to work and pick up benefits through an employer.

I have a few clients (foreign nationals) over 65 who work for their children and are covered under the group plan we established.

 

[michellea]

I cannot remember where in the world I saw it, but I remember seeing something about they were not going to charge the penalty this next year. I will try to find the source on this.