More trouble at the Border…

Boomers, are you aware that Medicare stops at the Border? The exposure to financial harm is high for anyone traveling outside the United States, especially for seniors who are on Medicare, since Medicare stops at the border except for limited circumstances. If you have a Medicare Supplement, there is some relief for emergency medical care, but that too has limits – you can very easily exceed the limit causing you to dip into your retirement savings.

The lifetime maximum for foreign travel coverage outside the United States on Medicare Supplement policies is $50,000. This amount can be easily exceed when traveling. Without Travel Medical Insurance, you are required to pay for services at the time you receive them. However, if you have travel medical insurance, those issues are handled by the travel insurance company, not you. A call to the customer service line of your insurance company you selected is all that is necessary to begin the payment process.

When people think of travel insurance, they’re typically thinking of travel delays and baggage problems. Admittedly, cancelled flights and lost baggage are a few travel inconveniences that travelers have no control over, but one thing you can control is having the security of knowing that if you need medical care outside the country, you can be properly covered.

Here are some questions that need to be answered. Who should I buy it from; the tour operator, the travel agent or a travel insurance specialist? What type of travel insurance coverage should I buy; Medical Evacuation, Travel Medical or Trip Cancellation? When is the best time to buy travel insurance?

Buying Travel Insurance

Most, but not all, tour operators and travel agents do not hold the proper insurance licenses to offer all types of travel insurance, so they are limited in their offerings. Keep that point in mind when you are being asked to purchase travel insurance.

When booking any travel, ask if travel insurance is already included in the rate. Ask for an outline of coverage and certainly ask about the medical insurance portion of the policy, if any. If it’s not what you want, then you must opt out of the program.

What type of travel insurance is right for Medicare Recipients?

We have done analysis’ on many travel insurance programs and with our twenty years of insurance experience our recommendation for traveling seniors is to purchase an International Medical Travel Insurance policy with a trip cancellation/interruption rider. This type of policy will give you the protection on both sides of the potential problem areas which are international medical care, travel delays, interruptions, lost luggage, etc.

When to purchase travel insurance?

The best time to buy travel insurance is between 1 to 14 days of putting down the initial deposit on your trip. This will normally qualify for coverage for any pre-existing medical conditions, especially for Medicare Recipients.