Group Health Insurance for Retirees

Group Health Insurance for Retirees

Have you heard of group health insurance for retirees? Have you wondered if your employer offers it or why they don't offer it? Group Health Insurance for Retirees is simply a health insurance plan setup for those who are over the age of 65 and retired from a company. These plans can also be formed for an association and that association allows members to enroll in the Guaranteed Issue Supplemental Medicare Plan! Check out the Benefits Association website if you are looking for this type of plan.

What does a group health insurance plan for retirees look like

Most health insurance plan for retirees will supplement Original Medicare (Parts A & B). Individuals under age 65 normally can not enroll in these plans, even if they have Medicare Disability. These retiree health insurance plans will normally have a $0 deductible; however, they can have different deductible limits that can range from $0 - $2,000 most of the time and they can also include Prescription Drug Coverage on an "800 Series Platform".

The Medigap Policies that have co-pays and/or deductibles have lower utilization costs and lower rate increases. Insurance companies realized that most people will not use coverage as much if they have to pay something out of pocket. Most retiree plans have implemented these practices to help keep rate increases down. We have one group plan that has an average of 1-3% rate increase over the last 10 years which is better than any other insurance company that we know of.

Guaranteed Issue Plans - Retiree Insurance

Most of retiree plans are guaranteed issue (No Health Questions). Several carriers that offer guaranteed issue plans are Guarantee Trust Life, The Hartford, and Trans america We will be glad to show you which health insurance plans offer this benefit.

If you need help finding a Group Health Insurance Plan for Retirees contact us at 1-877-936-2991.

Need help with Group Retiree Medical Plans - WE CAN HELP!