Saturday, May 17, 2014

Health Insurance Providers and Pre Existing Conditions

Health insurance providers and pre existing conditions are a volatile combination. Pre existing conditions are health issues that were known of prior to seeking a health insurance policy, such as diabetes, cancer, pregnancy, depression, obesity and more. Having such a condition means that you may be refused coverage. Disclosure of these conditions enables providers to limit the risks they take on. However, if you have an issue in your medical history, you have no choice but to disclose it, as companies do their research too and non-disclosure could result in cancellation of a policy. However, there are ways to get coverage despite having a pre existing condition.

Insurance providers often take on individuals with known medical conditions but put a waiting period in place before they start paying for medical expenses associated with the disease or situation. This allows the person who would otherwise by refused coverage to get coverage. Individuals with health conditions should expect to pay higher rates than healthy individuals, unless they belong to a group plan.

The easiest and most guaranteed way to secure coverage if you have a previous condition is to get group coverage through an employer. Members of the group must be accepted regardless of pre existing conditions, although a short waiting period may be put in place for claims arising from it. Of course, this does penalize the healthiest member of such groups by making the cost higher for everyone.

If you are HIPAA eligible, meaning you have been on group insurance for more than 19 months, have exhausted COBRA benefits and cannot get Medicaid or Medicare, you can get an individual health insurance policy with no exclusion period. Insurers must offer you a health insurance policy that does not limit your pre existing condition if you meet the Health Insurance Portability and Accountability Act guidelines.

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