How to Maintain a Quality Health Insurance Policy in Retirement

The biggest question facing every person nearing retirement age is, "Do I have a quality health insurance policy?" The concern of outliving their coverage is a common one. The Infinity Insurance Group, serving Post Falls, ID, can assist in creating a policy that meets your health insurance needs.

Potential Medical Expense Costs in Retirement

Retired individuals should have access to some form of Medicare that pays for a significant amount of their medical expenses. However, out-of-pocket costs (premiums, copays, and deductibles) can add up if you do not have a quality health insurance policy. While planning for retirement, consider updating your existing health insurance policy or changing your coverage. First, you need a better understanding of what Medicare covers. This will help estimate the level of health insurance needed in retirement.

What Does Medicare Cover?

Most Medicare health plans cover a portion of your hospital stay and other medical service costs. However, they exclude vision care, hearing aids, and dental work. If you plan to travel abroad, Medicare will not cover prescription drug orders and emergency medical treatment that occurs outside the United States. Creating a personal health insurance policy can help limit out-of-pocket costs. This coverage is considered a private health insurance policy that bundles all the missing coverage from Medicare into one plan. Also, personal health insurance removes all restrictions on Medicare’s limited network of healthcare providers.

If you are creating a health insurance policy for your retirement years, contact Infinity Insurance Group of Post Falls, ID. Our staff has the experience and knowledge to create coverage that meets your health needs. Call and schedule an appointment today.