When applying for health insurance, people with a previously diagnosed illness or health issue, commonly known as a pre-existing condition, face different choices. A list of pre-existing conditions includes but is not limited to chronic illnesses like diabetes, asthma, fibromyalgia and arthritis. Pregnancy, cancer and depression are not chronic, but they can be considered to be pre-existing by insurance companies and therefore affect insurance rates, depending on insurance company policies.
Insurance Companies and Pre-Existing Conditions
There are three ways insurance companies can structure policies in regard to pre-existing conditions that can affect your health insurance choices. First, an insurance company can exclude a person with a pre-existing condition from obtaining health insurance. Second, it could require a person to complete a defined waiting period before coverage for the condition would start. Insurance companies can also charge higher monthly premiums, deductibles or out-of-pocket expenses for a pre-existing condition. Depending on the type of insurance you choose, you may have to budget accordingly.
A pre-existing condition can cause you to choose an insurance carrier based upon different criteria than people who do not have a pre-existing condition. The best insurance for pre-existing conditions may depend on the state in which they live. This is because every health insurer processes pre-existing conditions differently.
The best pre-existing condition policy will include allowances for pre-existing conditions. The best pre-existing condition insurances will not deny you outright and will have either a short waiting period or no waiting period for the medical condition or illness. A waiting period is the time between when insurance coverage starts and when the pre-existing condition is covered, based on the insurance company policies.
Pre-Existing Conditions Insurance Plan
In the recent past, the government offered a Pre-Existing Conditions Insurance Plan (PCIP) for people who had been denied health care coverage due to a pre-existing condition. The government and insurance companies recognize that pre-existing condition insurance needs to be addressed in order for consumers to have affordable health insurance coverage, regardless of their present condition.
While any health issue you developed prior to purchasing a health insurance policy can be considered, most health insurance companies maintain their own set of rules as to which conditions will be considered pre-existing for coverage purposes. While pre-existing conditions can affect your health insurance choices, it is possible to find affordable health insurance that will insure you and your pre-existing condition.
