To ODAY AMERICANS, 65 years of age and over, have available to them a variety of health insurance plans and policies provided by insurance companies which guarantee lifetime protection against health care costs. These health insurance programs help policyholders meet the expenses of both serious and catastrophic illnesses and injuries. They offer a wide range of benefits which can be selected to meet the individual's budgetary situation and health care requirements. This report contains a list of typical health insurance plans and policies whose protection is guaranteed to be renewed for the lifetime of the insured person. The selected yearly premiums shown in each of the following sections refer to the cost ranges of the plans as listed. Benefits listed within each program show the minimum and maximum amounts available - along with the entrance ages required for application. It does not take into consideration persons over 65 who are working and protected under employer group health insurance plans nor the growing trend in extending the benefits of such employer plans to retired employees. Rather, it outlines a representation of plans and policies from which non-insured 65 plus people can select their health insurance protection. For those persons who have not as yet reached the senior citizen years, this report also contains many health insurance plans whose guaranteed protection can be carried into their older age. Some of these plans become fully paid for at 65 with their benefits continuing for life. These plans, providing hospital and surgical expense benefits to those 65 and over, are offered by insurance companies under a mass enrollment technique. Enrollment can be either made during specified time periods on a statewide basis or "all-year-'round" by personal application on reaching age 65. Offering hospital room-and-board benefits up to $10 a day, these plans pay benefits for as long as 31-60 days during hospital confinement. Additional benefits are paid to help meet other extra hospital expenses such as drugs, laboratory fees, surgical charges, and even the costs of care in nursing homes. Applicants are eligible irrespective of their past medi cal histories and without medical examinations. Some plans, however, require the newly insured person with a pre-existing health condition to wait six months before benefits are available for that particular condition. Protection of these plans cannot be terminated for any individual policyholder - only for state residents as a group. Similarly, premium charges can only be adjusted for an entire state group - not on an individual policyholder basis. An association group plan, sponsored by the Amer can Association of Retired Persons, is available to persons 65 and over after first joining the Association for a membership fee of $2.00. This plan provides benefits for hospital, surgical, and hospital out-patient treatment. It also has optional benefits covering doctor visits. nursing home care, and extended hospitalization periods. The selected yearly premium range noted above for the plans listed is for all persons 65 and over, at a universal premium charge. 1 2. EXTRA HOSPITAL ROOM AND BOARD BENEFIT - An additional 29 days for each con- 3. POST-OPERATIVE NURSING HOME BENEFIT-Half the daily nursing home charge to a 12 MONTHS WAITING PERIOD ON CONDITIONS HOSPITALIZED IN 12 MONTHS PRECEDING MEMBERSHIP OF PLAN SENIOR CITIZEN LIFETIME GUARANTEED RENEWABLE HOSPITAL-SURGICAL EXPENSE PLANS Optional Benefits-Supplementary accident: Death and dismemberment; In-office-home-hospital medical $5 120 $ 50 to 20 200 Optional Benefits-In-hospital medical; Accident expense treatment $10 02200 45 $100 to 200 75 80 $200 300 $300 to 500 $250 250 Optional $30-$40-$50 Deductible Worcester 5, Massachusetts applicant's present health condition and without medcal examination. Premiums can be modified only for the entire state group and protection cannot be terminated for an individual policyholder - only for the group as a whole. This particular group-type plan is issued as a supplement to a basic "Senior Security" health insurance plan. (See Section I) Under guaranteed renewable policies which provide benefits for lifetime, the insured person has the sole right of policy termination. The insurance company can adjust premiums only on a policyholder class basis. The selected yearly premium range noted above for the plans listed was calculated for a man 65 years of age at maximum weekly plan benefits. WEEKLY BENEFIT SENIOR CITIZEN HOSPITAL EXPENSE PLANS GROUP APPROACH AND GUARANTEED RENEWABLE FOR LIFE quirements for enrollment vary according to whether a group or individual insurance technique is used. Dependent upon the particular plan, there may or may not be a health requirement for application. Benefits under these plans for hospital and/or medical catastrophic expenses can reach a maximum of $7,500 - $10,000. A recent innovation in Connecticut by insurance companies has made available to all residents 65 and over statewide plans offering protection against catastrophic medical expenses and basic hospital charges. The selected yearly premium range noted above for the plans listed was calculated for a man 65 years of age with full plan benefits. |