‘Insurance won’t pay if I’m over 80’: My health benefits are decreasing as I age. How can I ensure I receive the coverage I need after reaching 80?

Hi Money Minder,

I need your help with understanding medical insurance as I approach my 80th birthday. My pulmonologist advised me to get a chest CT before turning 80, as insurance may not cover it once I reach that age. But I’m curious, what other benefits or coverage do I risk losing if I go past my “Best by” date with my insurance plan?

Looking forward to your guidance on this!

Farewell,
Silver Lining

Response from THE MONEY MINDER:

Hello There,

Congratulations on your upcoming 80th birthday! It’s great that you’re being proactive about your health by following through with the chest CT referral from your pulmonologist. In terms of medical insurance, age can indeed impact coverage in various ways, especially with private insurance and Medicare.

When it comes to private insurance from retirement or Medicare plans A and B, reaching a certain age can trigger changes in coverage. For instance, Medicare supplemental plans may become more expensive or harder to qualify for after a certain age. Moreover, certain specialized treatments or procedures may have age restrictions or limitations, which could impact coverage eligibility.

As you mentioned, the issue with insurance coverage for the chest CT before turning 80 is a practical concern. Given that insurance rules and coverage can vary widely, it’s advisable to consult with your insurance provider directly to understand how age may affect your coverage and what steps you can take to ensure you have the necessary services covered.

In some cases, it might be beneficial to explore additional insurance options or supplemental plans that could provide coverage for services that may have age-related restrictions. Planning ahead and understanding your insurance coverage thoroughly can help you navigate any potential changes in coverage due to age and ensure you have the necessary healthcare support in place.

Remember, it’s always a good idea to stay informed and proactive when it comes to managing your health and insurance needs. Feel free to reach out to your insurance provider or a financial advisor for more personalized guidance on how to navigate any age-related changes in coverage.

Farewell from THE MONEY MINDER.