What is the Best Medical Insurance for Retirees?

Best Medical Insurance for Retirees – Overview

Many expect Medicare to cover the cost of health treatments after retirement. Medicare generally aims at seniors 65 years and over and for those who meet its specific criteria.

So, if you’ve taken retirement before reaching 65, you may need to consider alternative health insurance.

Having medical insurance when you retire is essential for your overall financial security because our medical needs grow as we age.

Without a valid insurance policy, you could pay thousands of medical bills.

So, if you want to check the best medical insurance for retirees, you’ve come to the right place.

Top Medical Insurance for Retirees

Here’s our selection of the best medical insurance for retirees:


Aetna offers comprehensive coverage and is considered one of the best choices for retirees’ medical insurance, thanks to its expansive network, huge range of treatments covered, and other impressive benefits.

It is one of the largest health insurance providers for Medicare Advantage Plans.

These are excellent alternatives to conventional Medicare insurance plans as they offer dental, hearing, and eye care.

The company also ranks highly in The Centers for Medicare & Medicaid Services (CMS) annual rankings.

Aetna is renowned for offering low-cost but comprehensive insurance coverage, making it incredibly popular with retirees and senior citizens.

The company serves over 39 million people with prescription, health, and dental insurance plans.

If you qualify for Medicare plans, you can apply for the Aetna Medicare Advantage Plan, too.

Top features of Aetna Health Insurance

  • Request quotes and purchase policy online
  • Insurance plan starting with US$ 0 premium
  • Home delivery for prescription drugs
  • The meal delivery program included
  • SilverSneakers fitness program included


Humana is ranked in this list as the top insurance plan for prescription needs as it offers incredibly low monthly premiums and maintains an extensive provider network across the US.

Humana is a renowned insurance provider and ranks high in annual ratings. Conventional Medicare (Part A and Part B) does not cover most prescription drugs; however, Medicare Part D covers prescription drugs.

If you, as a retiree, expect to use prescription drugs regularly, this insurance plan is considered the best.

Humana offers extensive insurance plans, including employer-sponsored insurance, Medicaid, Medigap, Medicare Advantage, and dental and eye care. These can be easily purchased online.

The Humana Walmart Value Rx Plan is the most budget-friendly insurance plan.

It comes at an affordable monthly premium and offers a co-pay option in three progressive tiers. You can visit their official website for detailed information and clauses.

You can use the official Humana website to purchase insurance policies that suit you easily.

The company has a vast nationwide network of pharmacies where you can find even rare prescription drugs at affordable prices.

Top features of Humana Health Insurance

  • Extremely affordable monthly premium rates
  • Cost-effective online price list
  • Discover if your medications are covered online easily
  • Extensive provider network of pharmacies


Medicaid is yet another excellent medical insurance for retirees.

This is an ideal insurance policy choice for low-income retirees thanks to its federal funding that allows for incredible benefits for policyholders.

Medicaid results from federal and state governments collaborating to provide affordable medical care for policyholders.

Those eligible for Medicaid benefits enjoy deductibles and co-pay options for medical treatments.

Medicaid covers a broader range of health services than Medicare, including prescription drugs, case management, hearing aids, and physical therapy, which Medicare may cover under limited conditions. The insurance plan also covers pre-existing conditions.

Seniors can apply for Medicaid assistance if they fulfill the federal eligibility guidelines. Policyholders enjoy huge benefits and are offered incredible coverage flexibility.

To know the details of Medicaid insurance plans and determine whether you qualify for the advantages, please visit your state Medicaid agency and request an application.

If you are not qualified for it, here are the 3 alternatives to Medicaid

Top Features of Medicaid Health Insurance

  • Free and low-cost premium plans
  • Offers coverage for a wide range of health treatments
  • Restricts out-of-pocket expenses
  • Available in all states


United Healthcare is the best choice for short-term insurance plans. The Golden Rule Insurance Company underwrites these insurance plans.

These insurance policies cover transitional periods between two different insurance policies, such as when you leave work and qualify for Medicare.

Usually, the insurance plan provides coverage for 3 to 12 months. You can buy the term insurance plan for extended coverage, which extends services to 36 months.

You can quickly visit the official United Healthcare website and get an online quote. Additionally, you can find extra add-on options, such as dental and eye care plans.

Short-term insurance policies are often aimed at individuals below the age of 65.

Top features of United Healthcare Health Insurance

  • Online quotations available
  • Covers the cost of prescription drugs
  • Short-term insurance plans from 3 to 36 months
  • Available in every state


This is our list of the top medical insurance for retirees. These insurance providers have been selected according to their reputation, ranking, provider network, and affordability.

Let us know which insurance plan suits you by commenting below.

See Also

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How to get dental implants covered by insurance

No medical exam life insurance for seniors

Grants for senior dental implants

Does Medicaid Cover Dental Implants

Current Version
August 5, 2021
Written By
Shubham Grover
April 15, 2024
Updated By
Andrea Morales G.

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