Why Your Preexisting Condition Affects Your Health Insurance Coverage

Why Your Preexisting Condition Affects Your Health Indemnity Coverage

Here is a sobering reality — When you have a preexisting condition, you are discriminated hostile to when it comes to qualifying for health indemnity coverage. I’m sure you would agree because you’ve been turned down for that same reason; maybe even more than once.

Your pre existing condition cost indemnity companies more than a healthy person’s coverage. Considering that a preexisting condition can include diabetes, cancer, heart disease, obesity, etc., it can be with you long-term or chronically for the rest of your life. Insurers are for profit companies. They’re not in business to lose revenue. Getting the same results is common if you try looking for coverage with various indemnity companies. Being declined is probable because underwriting is similar among all the insurers. But getting around it is possible with the following available options.

1)    If you are currently employed and your employer offers a health plot, you obviously have coverage through them which is an employer-sponsored group plot. All employees are covered in that group and they can’t exclude you. So in this scenario, you are covered.

2)    COBRA (Consolidated Omnibus Budget Resolution Act of 1985) – You and your family can continue to participate in your employer’s group health benefit plot if you lose your job; but, at your own expense for 18 to 36 months. Although your pre-existing condition will be covered, it will cost you more than what you were paying while working.

3)    There are indemnity companies out there that offer guaranteed issue health indemnity coverage if you have a preexisting condition or are considered uninsurable. But, unlike a major medical plot, it is really a limited medical plot. That means you’ll have coverage up to a certain dollar limit for specific benefits. What ever is beyond that amount is your responsibility. But, depending on which of these guaranteed plans you go with, you’ll find that they cover a pretty honest amount or percentage of the Medicare Reimbursement Schedule. It also comes with additional benefits.

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With a pre-existing condition, you want to make sure that you are covered through a guaranteed issue health plot that’s HIPAA-compliant because as long as you’ve had continuous (a maximum of a 63-day break) creditable coverage (individual, group, managed care, standard indemnity, COBRA) for at least 12 months former to applying, you’ll be covered immediately. Otherwise, your preexisting condition will have a 12-month exclusion or waiting period and then after that, it will be covered. At least you’ll know that it will eventually be covered and you will not be declined. Again, there are many other benefits that you will get too. You will be amazed.

4)    State-guaranteed subsidized health indemnity coverage is something that most people have absolutely no clue about. States do not spend money on advertising it for obvious financial reasons; which is not shocking. HIPAA-eligibility is a requirement (see above) for this unfortunately in some states,. I’ll preface by saying that it’s particularly designed for people who are uninsurable which means they can not be eligible for private health indemnity. It is not designed for those who can not afford to pay for health indemnity. It’s typically more expensive than private coverage for healthy individuals. Unlike commonly in an individual/family policy, the lifetime maximum benefit is lower; about to million. Although it varies, some states require that you must be a inhabitant of that state for a minimum amount of time before you are eligible. But, HIPAA-eligible individuals are not subject to state residency requirements.

A high-deductible health indemnity policy is what I would suggest that you obtain if you or a family member have not developed a pre existing condition yet and are still healthy. In the future, if a pre-existing condition does develop, that coverage will by now be established and your premium can’t be raised because of it. Plus, it’s guaranteed renewable which means as long as you do not miss any payments it can’t be canceled.

Finally, for your pre-existing condition, you should be able to find some kind of
health indemnity coverage, unless you are seriously broke. Even in that case, there should be some kind of low returns (or no returns these days) Medicare curriculum in your state. This might be a bit farfetched, but maybe someone that you’re close to has excellent health indemnity. Check out what you can with permission do to get eligible under that person’s health indemnity plot. Try it and see.

Nadine House is a licensed health indemnity agent centered on helping people to make mindful decisions regarding their health care needs. If you want to see and know more about what’s available to you, stay:  http://www.HealthInsuranceCoverageInfo

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