The latest word is that thousands of individuals are going to lose their pre-existing condition health insurance coverage by the end of 2013. They now have to apply under Obamacare, but most of them are unsure about the terms and conditions and the procedures that are going to be covered and left out.
The provisions of the Affordable Care Act are also acting as a barrier for insurance companies from taking pre-existing conditions into account to determine the eligibility of an applicant. Also, they may deliberately decline health insurance to a high risk individual because of issues of profitability.
Does all of this mean you’re out of affordable options when it comes to high risk health insurance coverage? Do you just go on and choose any plans regardless of whether it covers all procedures or not?
Not yet, because many publicized conditions that make you eligible for a high risk category may not really put coverage out of the questions. And according to BestLifeQuote.com, you can get coverage even if you have been declined a policy in the past. The point being… If the policy was rejected in the past, it could have been because of the insurance company rather than your condition.
In fact, each life insurance company will analyze your risk in a different way. Some of them will look at the pre-existing conditions in a favorable way while others would turn you down directly. But just because you’ve received a no from company A, company B or even company C, doesn’t mean there’s no company D out there that is going to approve the coverage.
Additionally, you can do the following things on your part:
1. Keep the compliance and control ongoing
When dealing with a pre-existing, chronic healthcare condition, try to show compliance; follow the recommendations provided by the healthcare provider. You can revisit the doctor in case a particular prescription has expired or you’re having difficulty with medication management.
Likewise, you can practice control to keep blood pressure, cholesterol, blood sugar and other such variable factors within the natural range. It might be that you were previously declined because of lab results being above the borderline, so bringing them down may lead to successful re-application acceptance.
2. Look into a business
There’s another option for getting insurance that some people opt for. It will involve you starting a business, acting as the sole employee of the business and getting protection through a group insurance in the end.
The benefit of this approach is that you can’t be declined even if you’re in the high risk category, and the controls will also prevent the insurance company from charging high rates. This option, however, varies state by state, so you will have to check if the local body in your state residence allows for coverage.
The rate will depend on the program in which you apply for risk-based insurance under the Affordable Care Act, and though you may be given a fixed price on paper, there’s no harm in negotiating with the insurance company. Tell the representative that you’re going to make an effort to make lifestyle changes that will put you at less risk.
This strategy is worth a try, because you may be able to convince the insurer that the risk was higher than they initially thought. The referring body may also give you tips on how to negotiate.
The bottom line: you don’t have to live with an unpredictable future, because high risk insurance coverage is possible despite the changes to healthcare policy in the U.S