Real Health Insurance for pre-existing conditions
The insurance industry is one of the most highly regulated industries in America.
The commissioner of insurance is right after the governor and the attorney general in prestige and responsibility. Many times the commissioner is elected directly by the voters. The bureaucrats in the insurance departments of all 50 states have formulated laws to make all insurance plans sold in their state insured by a state guarantee insurance pool.
If ABC insurance company goes bankrupt, runs out of town, etc. it is then the responsibility of the remaining insurance companies that are doing business in that state to cover ABC insurer's obligations to the clients. Of course, there are limitations.
In Florida, a health insurance policy is insured by the state guarantee pool fund up to $100,000.
If circumstances change, it is the insurance commissioner's job to minimize the damage by suspending the right of the insurer to sell new policies and/or to transfer the insurance company's in -force policies to a more stable insurance company.
What is HIPAA, and why is it important to real health insurance?
It is of paramount importance to be insured by a HIPAA certified coverage provider. HIPAA certification means that when you switch to another insurer the new insurer cannot implement a waiting period to cover your existing illnesses. This includes cancer, diabetes, etc. Under the HIPAA compliancy law, as long as the client does not have more than 63 days in coverage lapse and provides a certificate of credible coverage his pre-existing conditions must be covered under the new policy.
This fact is crucial to obtaining a new health insurance coverage. If however there is a 63 day lapse, there will be a 12 month waiting period for coverage of all pre-existing conditions.
HIPAA, or Health Insurance Portability and Accountability Act was instituted on August 21, 1996 by President Bill Clinton in order to improve the efficiency and effectiveness of the health care system. Most insurers were to comply with the HIPAA regulations by October 2002 and smaller health care providers by 2003.
Title I of HIPAA regulates the breadth and availability of group health insurance plans. It also controls the restrictions a group health insurance plan can place on someone with pre-existing conditions. Group health companies can refuse to provide benefits for pre existing conditions for a 12 month period, given no certificate of credible coverage is provided, and for a period of 18 month in case of late enrollment.
It is advisable to get familiar with the HIPAA certification laws especially when switching to a group health insurance plan, in order to know what You're entitled to.
So visit our guaranteed issue health insurance page to see the benefits of some of the plans being offered.
We know this business in and out, and represent virtually every insurer in the US. We are here to help you find the most relevant, affordable policy on the market.
