Health insurance has become a requirement in today’s fast-paced, sometimes unhealthy lives and lifestyles. As a result, health insurance might be your greatest friend when it comes to covering costs incurred as a result of various medical situations. Individuals with pre-existing medical disorders, on the other hand, may not necessarily be looking for help.
What does it mean to have a pre-existing condition?
It is critical to comprehend what it means to have pre-existing medical illnesses or disorders. A pre-existing medical illness or condition occurs when a person has a medical ailment or disease prior to purchasing health insurance coverage. This might be anything from diabetes or cancer to somewhat less dangerous illnesses like high blood pressure, skin conditions, or asthma.
Health insurance businesses are generally unwilling to cover those who have a pre-existing condition. This is because such persons are more likely to need medical help and hence constitute a bigger monetary risk to the provider. As a result, health insurance companies will be cautious about providing policies to those who have a pre-existing medical condition. It is difficult for such people to get proper insurance coverage. Their insurance coverage may be terminated, the insurer is allowed to refuse to reimburse medical expenditures, or, in the worst-case scenario, insurers may refuse to offer health insurance at all.
What to know about pre-existing medical condition in health insurance? Keep reading to find out.
Choosing your insurance policy
In light of the above, get familiar with some considerations while shopping for health insurance policy:
Insurance policies vary by insurer. Pre-existing medical condition coverage is subject to different terms and limitations depending on the insurance. Though it might be hard to find insurance that covers pre-existing conditions, there are certain exceptions. Some insurance companies may evaluate an applicant’s whole medical history when deciding whether or not they have a pre-existing medical condition. Other providers may only look at the applicant’s medical record for the last four years.
Don’t worry if you’ve gone to the doctor a lot throughout the winter for minor maladies like colds, coughs, and fevers. When enrolling for health insurance, every visit to the doctor will not be considered a red signal. Only medical problems and disorders that have had a long-term impact on a person’s health are considered by insurers. Minor diseases and their side effects, such as the ones listed above, have no impact on a person’s health.
Do not try to hide or minimize your current health issues. It is not advisable to conceal information such as a pre-existing medical condition while purchasing health insurance. If the insurer is unaware of such information, they may deny your insurance claim in case it is related to such a disease. Thus, it is always best to be truthful while applying for health insurance. Lying about any information, whether related to your health or not, can result in your entire policy being void.
Sometimes, you can get pre-existing medical conditions covered. The majority of people are under the mistaken assumption that insurance companies do not cover pre-existing medical issues. That, however, is no longer the case. Insurance companies now incorporate a waiting period or an exclusion for some pre-existing medical issues in their health insurance plans. During this time, the insurance company will not pay for any treatments, drugs, or expenses for doctor’s visits related to the individual’s pre-existing medical condition. All of the aforementioned expenses will be reimbursed only when the waiting time has passed. The insurance will, however, continue to offer coverage for costs incurred as a result of other diseases covered by the policy.
Health insurance plans have different waiting periods from one provider to the next. Even though there are insurance companies that have a two-year waiting time, others may have a four-year waiting period. If you want to switch insurance providers, you should do so only once your current provider’s waiting period has expired. The reason for this is that even if you have finished two out of four years of contracted waiting time, the years you have completed will not be considered when you change, and you will have to start again. However, several providers now provide plans that enable policyholders to shorten their waiting time in exchange for an additional monthly payment.
Insurance is investing in the future
It is evident that having a pre-existing health condition can be difficult when it comes to obtaining insurance coverage. Certain jurisdictions have rules aiming to help those with pre-existing conditions by prohibiting health insurance companies from denying them coverage or charging them more for their premiums. However, other jurisdictions have rules that allow insurance companies to charge those with pre-existing conditions more for their premiums, with or without capping the amount. This can make it difficult for those with pre-existing conditions to find affordable health coverage. However, the market is unpredictable, so it is best to be open with your provider and do not be afraid to ask questions before committing to a specific policy.