Discussion in 'Expat Section' started by Third_Times_A_Charm, Oct 19, 2020.
Looking for health insurance for Expat over 70 years age. Is there such a thing?
I know someone who is into health insurance with wide coverage. Let me secure his number so I can give it to you
Pacific Cross offers insurance for seniors, their Blue Royale Premier product.
It's not cheap though, at age 70 you'd pay 9,300 US$ per year for their "Standard" product, and 3,500 US$ per year for "Major", with an optional rebate up to 40% if you agree to a sizable deductible.
Premiums go up as you get older. 13,000 US$ at 75, etc.
Brochure available here
Obviously, nobody wants to insure a house that's already on fire, so you'll need to answer a whole bunch of questions in the application form.
I would also think that with customers getting insurance with them at a rather advanced age, the risk of getting into discussions about whether some medical problem was "pre-existing" at the time of applying seems rather large anyway.
From a strategy standpoint, it would be interesting to know how older non-veterans without Tricare do it. Do they just save for a rainy day? Do they buy a high deductible plan? PhilHealth? Medicare and plan a quick ride to USA if needed? Other options?
I know Pacific Cross thru a friend who lives on Samal Island/Davao and he hates them. He was insured with them close to 8 years without having a case. Then he got heart problems and got a stent implanted. Pacific Cross paid the bills. A year later there was a problem with the stent and he was in hospital again. This time they refused to pay and claimed it was a pre-existing condition. Now he has no insurance at all. But he puts monthly a certain amount to a special account in case there would be a medical problem again. In the worst case he can go to Switzerland. There is no age limit and for about 350 US$ a month you are covered. No limit as far as the cost of the treatment is concerned. Pre-existing or not. But still, not easy. We live in the Philippines and would rather prefer not be forced to travel back to our home countries for medical reasons.
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That is my plan also. After paying off bills for the trip a year and a half ago. I still do not have what is needed for the next trip. When I get this covid it will kill me.
End of the line.
Great post - insurance companies do everything they can to avoid paying out. If you miss out one previous condition, even if very minor and seemingly unrelated to your claim, they will use it against you. A previous undisclosed very minor knee injury will be used to deny a heart claim, as I have read.
I also read, related to house insurance, a denial of claim because they investigated the house and found an old repair within the ceiling, done before the claimant bought the house and of which (being hidden within the ceiling) he was totally unaware.
I have money to repair my body if necessary - if it runs out then it means I am pretty bad, so I go home (where medical care will be free) or I expire and save myself any more suffering.
Hmmm. Interesting topic. We've been planning to move to Bacolod where we have a large lot in a quality sub-division. My wife of 40 years is from the area, with relatives in the right places, so that's a plus. Unfortunately late last year I burst an artery in my guts (wasn't even trying - and be aware it does happen - almost worse than a stroke since you won't know it till you pass out). Recovery took a long while as there was some very radical surgery to find the leak. Up and running now...finally.Anyway, I am having second thoughts about Bacolod for a while (no decent diving or snorkeling for about 200kms) and switched my interest again to Dumaguete (probably Valencia).....Maybe the owner of this site can survey people for the cost of various medical operations to give us an idea how to have on hand if the worst happens? And then post the results? It would be useful.....
I doubt I am insurable but if we finally make the move there from COVID free Perth - at that time it would help to plan.....
I should add we have spent a bit of time in Dumaguete over the years. We like it....It's certainly affordable and a very nice place compared to many others we have scouted - years ago.....
Personally, I think if you don't have, at the very least, P4 million set aside for medical expenses (especially if you are elderly) you are setting yourself up for failure.