View this article online: https://www.insurancejournal.com/news/national/2010/08/11/112361.htm
Petersen International Underwriters main product line up, the Bridge Plan, is now renewable annually without any additional health qualifications on each anniversary date.
“This plan is now guaranteed to renew without health questions, after the first fully underwritten year of coverage for at least 5 years, or until eligible for Medicare, whichever is sooner.” Says Jimmy Petersen, who heads up the Medical coverages at Petersen International Underwriters.
Originally designed for new senior age United States residents, the Bridge Plan is a temporary major medical plan designed to cover someone who is waiting for Medicare eligibility. Social Security allows anyone who is a permanent resident of the United States for five years or longer, to participate in Medicare. If they have not “paid into” Medicare they will have to pay a premium for both Part A and part B of Medicare. The problem is over 65 people are not eligible for coverage through the traditional markets for medical insurance because of age, and they have not been in the USA long enough to be on Medicare.
Additional uses of The Bridge Plan includes US citizens who missed enrollment into Medicare or who have Part A or Part B, but not both at the moment.
Petersen International Underwriters is a Lloyd’s Coverholder specializing in excess and specialty disability insurance programs for individuals and businesses. In addition, Petersen International Underwriter offers international medical plans, special life coverages, accidental death programs and kidnap/ransom coverages.