How Do Health Insurance Policies Cover Pre-Existing Diseases?
Health insurance policy has become a necessity. It might be somewhat confusing to buy comprehensive medical insurance for people with pre-existing diseases. Therefore, it is important to know what a pre-existing health condition means.
A pre-existing illness means any health issue a policyholder has been facing prior to buying a health insurance policy. Health issues such as high blood pressure, thyroid, the usual suspects like diabetes, asthma, are included in the pre-existing conditions.
Following are some useful tips to find the best health insurance policy cover for pre-existing diseases:
Different Insurance Companies Have Different Policies
It is easy for people to buy a health insurance policy even if they are facing a pre-existing health condition, provided they maintain transparency with their company in terms of their medical history assome insurers take into consideration the entire medical history of the policyholder when determining pre-existing health issues.
Hiding a Pre-existing Illness
Always provide the correct information to the insurance provider. If you hide any health issue and it comes up during the time of treatment, then the insurer can reject your health insurance plan.
Not Every Visit to the Doctor Counts
Health ailments, which will have an impact in the long run, are taken into consideration by health insurance providers. The insurance company does not consider short-term health issues like the flu, cough, colds and fevers, as they do not have long-term side effects.
Pre-Existing Diseases come with a Waiting Period
It is a myth that health insurance companies do not cover pre-existing illnesses. Pre-existing diseases have a waiting period. You have to wait until the specified illnesses receive coverage after the end of the waiting period. In addition, your claim is rejected during the waiting period for such specified diseases. In some policies, the insurance company does not offer coverage to pre-existing illnesses. The insurerdoes not cover any doctor fees, cost of medicines and any hospitalization required for pre-existing diseases during the waiting period. It will either be covered after the completion of the waiting period or will not be covered at all.
Working around the Waiting Period
There is a specific waiting period in both individual and family health insurance plan, which restricts you from filing a claim for a certain specific period. The time of the waiting period may differ as per different insurance companies and your medical condition. It also depends on the duration and severity of your pre-existing disease. It is recommended to switch to a different insurance company only after completing your waiting period so that when you switch the insurer it is accrued and you do not start fresh. In addition, some insurance providers offer a reduction in the waiting period by paying an extra premium amount.
Some health insurance providers have a co-payment feature for pre-existing conditions. In co-payment clause, you have to pay some percentage of the amount, and the insurer pays the outstanding amount.
Thus, people with pre-existing diseases can also get health insurance coverage. In addition, compare personal accident insurance, family or individual plans and policies covering critical illnesses and then select the right health insurance policy for you.