Things you must Know About Health Insurance Disease Coverage
10 May 2018
Pre-existing Disease Coverage: Things You Should Know
When it comes to buying health insurance for a pre-existing medical condition, you must first understand what pre-existing medical condition is. If an individual suffers from any kind of medical condition before buying health insurance policy, such a condition is termed as a pre-existing medical condition. This may include any and every kind of health issue, ranging from cancer to diabetes or even a less serious condition like high blood pressure. The catch here is that health insurance companies seldom provide coverage to individuals with a pre-existing condition as they are in greater need of medical assistance, therefore posing a higher financial risk to the insurance company. With that being said, there are certain things you should know when it comes to pre-existing health insurance.
Policies are Subjective to the Insurance
Each policy may differ from other policies when it comes to the terms and conditions of pre-existing medical conditions. While some policies do not provide coverage for pre-existing medical conditions, there are exceptions. Some insurance providers consider the medical history and provide coverage accordingly, while some provide coverage only for a set period of the medical history, like four years.
Every Doctor’s Visit Does Not Count
Insurance providers only consider medical contingencies which have a long-term effect on the patient. If you have frequently visited the doctor for minor ailments like a cough and cold, this doesn’t stand in the way of getting a health insurance policy.
Be Truthful About Your Pre-existing Medical Condition
If you try hiding any detail regarding your pre-existing medical condition, it can backfire when you want to claim health insurance for the same condition. If such information is hidden, the insurer may reject your insurance claim.
Cover for Pre-Existing Medical Conditions
It’s a common misconception that health insurance providers do not provide insurance for pre-existing medical conditions. This, however, is no longer true. Insurance providers include a waiting period. During this period, the insurer cannot claim coverage for any medical cost incurred pertaining to their medical condition. That said, these costs are covered once the waiting period is over. Coverage is provided only for illnesses covered under the policy.
Waiting Periods can be Altered
Waiting periods differ from one health insurance policy to another. While some provide a waiting period of four years, some may narrow it down to two years. Also, if you wish to shift from one insurer to another, you are required to complete your waiting period first and then start all over again. That said, some policies offer an alteration in the waiting period in lieu of some extra premium paid.
As you can see, people with a pre-existing medical condition are eligible for insurance too. It is just a matter of reading the policies thoroughly and choosing a health insurance plan that suits you the best.
Why choose Bharati AXA Health Insurance
With health insurance plane, financially secure yourself and your family at affordable premiums