Fat Baby No Insurance! Is your baby too fat to qualify
for health insurance coverage? what is this world getting
to? How fair is that , well this is the cold reality of the
health insurance world. That's correct, you heard it right,
the insurance business is a cunning one, the industry is denying
health insurance for babies they categorize 'too fat.' This
is of course all because such babies, they say, are just 'too
risky' to insure. Insurance companies are on a regular basis
rejecting people with pre-existing conditions who aren't covered
in a group health care plan. This is one of the kinds of insurance
denials that health insurance reform efforts are trying to
do away with. When it rains it pours not only it was fat baby,
no insurance last week but now it looks like skinny baby,
no insurance too! A Colorado couple sought health coverage
for their two-year-old daughter recently and got similar treatment,
they had no idea that they were about to become the latest
front in the war to reform health car and health insurance
in America.
The changing healthcare and health insurance landscape
in the United States has resulted in more individuals and families
purchasing health insurance coverage on their own. Rather than
touch on the number of reasons why this is the case, I would like
to provide individuals and families finding themselves in this
position with ten basic ideas to assist them with getting the
best health insurance policy for their specific situation. Below
is a combination of ten questions and suggestions that will provide
the tools necessary to get a medical insurance policy that will
best work for you and your family.
1)What are your typical health and medical care expenses in a
calendar year? Most people are surprised when they go through
this exercise to learn that they would be financially better off
in most years to purchase a high deductible health insurance plan
and use the premium savings to directly offset heath care expenses
throughout the year.
2)How long do you anticipate needing the health insurance coverage?
For example, many companies sell temporary policies that can be
put in force for 1-6 months and they are relatively inexpensive.
If you are in between jobs or in a waiting period for employer
coverage, this may be your best option.
3)What is your budget? If your budget is tight, having a $1000,
$2500 or even $5000 deductible is better than having no coverage
at all. The ability of doctors and hospitals to save and prolong
life in the United States is in many cases extraordinary. However,
their treatment is not free and going without health insurance
coverage can in some cases result in you and/or your family losing
an entire life's worth of savings and assets.
4)Be careful to choose a plan that covers the "big stuff".
It is nice to have a policy that covers items such as: physician
office visits, routine physicals, outpatient testing, and blood
work. However, it is essential to have coverage for major services
such as cancer treatment, transplants, critical illness, traumatic
accidents, and infectious diseases. Find out the lifetime maximum
amount as well as if the policy contains "internal"
dollar limits.
5)Always carefully read and understand the pre-existing condition
clause and policy exclusions so that you will not be surprised
down the road if a claim is denied. This is important whether
you are purchasing a standard medical, temporary, or student health
insurance policy.
6)Does the insurance company you are considering have a substantial
network of preferred doctors and hospitals in your area? In addition
to family doctors, what type of access will you have to specialists
and the best hospitals in the event you or a family member is
diagnosed with an illness that requires specialized care? Also,
what are your options for preferred health care providers when
traveling?
7)If you need to go "out of network", will you still
have coverage? Most insurance policies will have coverage in the
event you need to go outside of their network for care. However,
review how these out of network claims will be paid. Will there
be an additional deductible? How are reimbursement levels determined
for out of network claims? What is your maximum out of pocket
for out of network claims?
8)Are you looking for an opportunity to reduce your taxable income?
If so, make sure your plan qualifies as a high deductible health
plan and look into all of the aspects of a Health Savings Account.
In the right situation, HSAs can be an excellent way to pay for
eligible health care expenses, reduce your taxable income and
save for retirement.
9)What are the financial ratings of the insurance company you
are considering? A.M. Best, Standard & Poor's, and Moody's are
organizations that rate the financial stability of insurance companies.
10)What type of customer service will you get from your insurance
agent? Do they specialize in health insurance? Do they have a
staff that is willing and able to assist you in the event you
have a claim, billing, or other customer service problem?
If you do not have the time or patience to look into all of the
items mentioned above, develop a relationship with an independent
insurance agent that specializes in evaluating and servicing health
insurance policies. A good independent insurance agent will be
able to save you time, money, and be an excellent resource for
evaluating all of the items mentioned above.
Michael Ertel is the founder of MedicalInsuranceNow
. This is a website that assists individuals and small business
owners by providing side by side comparisons of health insurance
alternatives.
