October 12, 2009
How do I choose a medical insurance for my parents?
gaby g asked:
I need to get my parents medical insurance they have never had one. And I was wondering where do I start? What do I look for? Any tips or advice are appreciated!
I need to get my parents medical insurance they have never had one. And I was wondering where do I start? What do I look for? Any tips or advice are appreciated!
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Comments on How do I choose a medical insurance for my parents?
Well, first of all, you get quotes. The best way to do this is through a local agent.
Depending on how old they are, and WHY they've never had insurance (most of the time, it's because they've lived outside the US), it could be impossible to find a company willing to insure them.
So ask a local agent for help. Start with the guy who does your car insurance, and if he can't help you, ask him for a referral to someone who can.
Realize, if they're PERFECTLY HEALTHY, it's going to cost about $100 a month, EACH, for each decade they've lived. example: If you're 60, it's going to cost AT LEAST $600 a month. Each.
If you're looking for a $50 a month plan, don't bother – you're just wasting everyone's time.
Pick up the phone and call an agent in your area that specializes in individual healthcare. They will be aware of your local market conditions and be able to get them some competitive quotes. If you are interested in doing this yourself you may want to reach out to which has multiple carriers at their disposal.
My overall suggestion is get the partnership of an agent to guide you through the underwriting process.
I am guessing then that your parents are not old enough for Medicare?
If not then, yes, you need to quote various health insurance polices with carriers serving your area. At the same time, your parents need to be insurable which is not guaranteed. Try this link if your parents are in OH, MO or GA:
Locate the local Blue Cross Blue Shield online in your state. The website will have an explanation of coverage for each plan, as well as pricing. Your parents may also apply online through the website. A high deductible plan will probably be best, such as a $2500 or $5000. They will not have to meet the deductible first for such things as general office visits, medication, urgent care, or annual physicals and gynecological exams.
To find the best rates, speak with a health insurance broker. A broker works with several insurers and can find the best plan, rates and coverage for your parents. To find a broker, log on to a website like and fill out a form requesting a free quote. Your information will be sent to a broker in your area who will contact you.
What are the ages of your parents? Put into consideration their pre-existing illnesses because basically, pre-existing illnesses are not covered during the first year. There are illnesses which are permanent exclusion. Know what those illnesses are.