Insurance for Seniors Living Abroad
I'm 52 and planning to retire at 65. When I retire, I would like to live most of the year (maybe 8-10 mos.) overseas where my $ goes a longer way. What are my options on major medical health insurance for treatment in the US and what's your advice? Do my options become wider and better if I maintain my home (and therefore address) in the US (CA now)?
Answer: Your options are much better if you maintain a US address. This allows you to get insurance with a US company, which should allow for both an easier application process and an easier claims process. If you apply in a foreign country and you have a problem with your insurance, you are also at the mercy of the foreign legal system if anything goes wrong. As for your options for coverage, there are many. While I don't recommend particular insurers in general, I do recommend doing your research! The Internet makes that much easier. Remember that when researching a company, you aren't just looking for the best price – you are also looking for a reputable company that is focused on customer service. Keep in mind that if you want to make use of alternative medicine or leading edge treatments, you'll have to find an insurer that provides you access to such approaches, or pay out of your own pocket.