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How Does Age Affect Visitor Health Insurance Cost?
Getting health insurance means you need to be aware of the premium you are paying. Though it may appear a challenging process initially, you can find a suitable plan with the proper guidance from us. America has undoubtedly the most complex healthcare system, thus skipping an insurance policy can put your health at risk. Whether you are traveling to the US for a short trip or an extended stay with your family, investing in insurance is a smart choice.
What plays a crucial role in determining the premium?
Age plays a significant role in determining the cost of visitor health insurance. Often, travel insurance plans can vary in price because of policyholders’ age. The older the visitor is, the more expensive the premium is. When you start entering information to get quotes, you need to fill in your age, length of stay, and choice of policy maximum and deductible.
Generally, as your age goes up, so will the plan rates. However, the medical benefits do change as you age but travel benefits may not change. Why? Because older people are at more health risks and need more medical care.
For instance, a 70-year-old pays approximately $351 per month for the Safe Travel USA Comprehensive plan with a policy maximum of $100,000 and a deductible of $250. In contrast, a 24-year-old pays around $45 per month for the same policy maximum and deductible. The largest increase in health insurance costs occurs for adults over age 50.
How do premiums change for older and younger adults, respectively?
If you compare the premiums between older and younger adults, the latter always pays a lesser premium. Why? Younger adults are less likely to fall sick and are not vulnerable to diseases and accidents. As a result, the insurance providers are willing to take bigger risks and provide coverage with a higher policy maximum limit and lower premiums. Of course, choice of policy maximum, deductibles, co-insurance, and others vary from one plan to another, which overall determines the cost of the purchased policy.
In case of older adults, the risk is higher. It is not unusual to find seniors suffering from many physical ailments than younger people. Immunity, bone density, and muscle strength drop as we age. They are more prone to diseases, accidents, and injuries. With much higher risk, the insurance providers offer plans with lower policy maximum and higher premiums. Again, the amount varies for each plan. You can check the quotes for a 5-year-old and a 65-year-old parent on our website.
Do pre-existing conditions change premiums for older and younger adults?
No. Insurance plans do not offer coverage for pre-existing conditions; instead, the plans either come with acute onset of pre-existing conditions or nothing at all. Moreover, a pre-existing condition cannot be added to a plan as optional coverage. Hence, the premium remains the same for the purchased plan for all , irrespective of their age.
Do older adults need visitor insurance?
Yes. Even if you are an experienced traveler and in great shape, you need a visitor insurance plan when traveling to an unfamiliar land. Visitor insurance plans are designed to protect your health, finances, and give you peace of mind in circumstances that can be devastating.
Suppose a 60-year-old traveler plans to hike through a trail in a remote part of Brazil. He feels shortness of breath, and the next thing he knows, he is in a hospital. Since the medical facility of the hospital is not well-equipped, he needs to be transported to the nearest equipped medical unit. Unfortunately, medical evacuation costs more than $20,000! This is where your insurance comes into the picture.
Seniors’ coverage options can be limited since age is considered a risk factor. Most plans have limited policy maximum options and higher premiums. Therefore, no matter what your age is, it is essential to buy visitor health insurance before travelling to the US.
Visitor Guard® has some of the popular plans for all the age groups like Safe Travel USA Comprehensive, Atlas America, Patriot America, and more. If you have specific questions regarding age and other factors on determining rates, call us.