More and more people are becoming aware of the importance of purchasing a health insurance plan. However, with so many general insurance providers in the market offering some of the best health insurance plans, people are often stuck in a situation where they seem confused about which plan to purchase, especially if you have a pre-existing medical condition.
Most health insurance companies define pre-existing conditions as an ailment, illness or injury, which existed or the individual has taken some kind of treatment within 48 months, prior to buying the health insurance policy.
To help you understand better, here’s all that you need to know about health insurance with pre-existing coverage:
Importance of Health Insurance
Though some insurance policies do not offer cover for pre-existing conditions there are other illnesses and diseases that are covered. Purchasing a health insurance plan is very important if you want to avoid huge medical expenses in case of emergencies. If you have a condition that is not chronic, then purchasing a health insurance plan should be your priority.
Pre-existing Condition Coverage
When an individual purchases a health insurance plan, the pre-existing disease or illness that one has taken treatment prior to purchasing the policy needs to be declared while buying the policy. Once you have declared your pre-existing condition to the insurance provider, the company will decide whether or not to provide cover, and also consider the premium amount before approval. This decision totally depends on the insurance company.
Example for Rejecting Coverage
An example for rejecting a certain health insurance claim could be a person who suffers from a kidney condition. In such a situation, insurance companies are unlikely to offer health cover. For individuals who suffer from hypertension or diabetes, the insurance company may decide whether to offer cover or not, depending on the situation.
Retired Individuals and Pre-existing Coverage
An individual who is covered under a group health insurance plan with an organization or company is often tempted to ignore purchasing an individual health insurance plan. This is not a good idea because once you retire, you will not be able to depend upon the group health insurance. Hence, getting an individual insurance plan along with your group plan is always advisable.
Waiting Period
Individual insurance plans cover you for pre-existing conditions only after a certain waiting period. So, it’s important to compare different policies, including the waiting period, before you purchase your health insurance plan.
Why Should an Insured Avoid Switching Insurers?
If you are someone who suffers from any pre-existing conditions, you should always think twice before you switch over to another insurance company when you renew health insurance. Since the waiting period could be anything between 2 to 4 years, switching to another insurer will start the waiting period all over again, which is definitely not a good idea. And not getting coverage for a long time defeats the very purpose of purchasing health insurance.
Every health insurance provider comes with their own set of terms and conditions, which is why it’s always important to compare policies and look for other health insurance providers who offer different – benefits, premium amounts, waiting periods, renewal process and also cover ailments and diseases under the plan. Comparing all of this will give you a better understanding about the best health insurance plans to purchase.
Another thing to look at before going in for a plan is to always check the health insurer’s background and experience before you sign on the dotted lines.