While health insurance is important to everyone, it is especially important to someone with diabetes. Diabetes is a disease that must be carefully controlled. Plus, even with tight controls, there may be complications as time goes on.
Unfortunately, with the exception of only 5 states, health insurance is medically underwritten. This means that you must answer certain medical history questions and qualify for the health insurance plan. Diabetes, in most instances, will make you ineligible for a private health insurance plan.
There are still alternative plans and methods for a diabetic to secure health insurance. This article will give you an overview of how to obtain a health insurance plan with diabetes.
Group Health Insurance
If you work for an employer who offers group health insurance your problem is over. Group health insurance is guaranteed issue and you cannot be declined for any pre-existing condition. Furthermore, even if you never had health insurance before or let it lapse, pre-existing conditions will be covered in full after 12 months. If you have had continuous coverage, there is no waiting period.
But, what if you want a full major medical plan and do not have group health insurance available to you?
If you work in certain industries, you can purchase a guaranteed issue major medical plan with no medical questions.
Major Medical
Currently, those industries eligible for major medical include:
- Real Estate – agents, brokers, mortgage brokers, appraisers, clerical and administrative staff. Anyone in the real estate or mortgage industry can qualify.
- Construction – This is a fairly broad category. It encompasses anyone in any aspect of the construction industry.
- Information Technology (05/08) – another broad category that includes programmers, network engineers and technicians, web developers and designers, repair technicians. Again, anyone in the information technology industry or administrative personnel working for an information technology company.
Limited Benefit Health Insurance
A limited benefit plan is also guaranteed issue and available to any diabetic under the age of 65.
Limited benefit plans, sometimes referred to as “mini medical”, vary widely in terms of the benefits they offer.
We suggest that whenever possible the plan include the following:
Pay at least $1,000 a day for hospitalization (more would be better).
Have a surgical schedule that is not limited by any caps.
Pay for a limited number of office visits and diagnostic tests.
Be HIPAA-qualified (this means that it is credible coverage or real health insurance and not a discount plan with some extra benefits thrown on top). Use a national PPO network.
Critical Illness Coverage
Anyone between the ages of 18 and 64 can obtain a guaranteed issue critical illness plan.
This plan will pay you a lump sum of $25,000 upon diagnosis of certain life threatening illness. They include cancer, heart attack, stroke, kidney failure, etc.
In addition, this plan will pay $500 for each 24 hour stay in a hospital. It is an ideal plan to add to a limited benefit plan to increase the coverage or just use as a standalone plan. For an individual, the cost is $88 a month.
Where Can I Get More Information?
We recommend that you talk with an insurance agent who specializes in guaranteed issue plans. The best site we know of is www.guaranteed-health-insurance.com. You can reach them at 800-986-4786 9 AM to 9 PM EST.
A Word of Caution
Quite often, individuals who are having difficulty obtaining health insurance are taken advantage of. They are sold worthless discount plans or overpriced coverage that offers very little protection. Please use common sense when shopping for a plan and read everything carefully.
By: Martin Unger
Posts Tagged ‘Health Insurance Plan’
Health Insurance For Diabetics
January 25th, 2010How to Get Cheap Health Insurance?
January 22nd, 2010
Cheap health insurance may look like a bargain, but what happens if you have a major medical problem? You don’t want to be caught off-guard if an unexpected major medical problem arises. Cheap health insurance means one thing to one person and something else to another. While the idea of getting cheap health insurance is very appealing, no one wants to deal with the repercussions of bad or inadequate health insurance. Cheap health insurance has become the issue of the moment in South Carolina and across the country. More small businesses are increasingly unable to provide cheap health insurance plans to their employees because of the rising cost and the lack of federal and state legislation that would allow small businesses to purchase cheap medical insurance in pools.
Cheap health insurance is your access to the best options in the market. This is because you no longer have to spend so much time searching for the product that will suit your health care needs. Cheap health insurance rates work so much better when you know what you are supposed to be looking for. Get some tips on what you should look for when dealing with a health insurance plan. Cheap health insurance quotes can help you to find the best and the most inexpensive coverage that is available. You will be covered, and relieved to know that if anything happened to you, you will not have that major financial stress of paying full price for your injuries or illnesses.
Medicare supplemental insurance offers senior coverage for health care costs that are not covered by a traditional Medicare plan. By having Medicare supplemental insurance, seniors can rely on consistent, constant and comprehensive coverage when they need it. Medicare supplemental insurance is designed for people on Medicare, who wish to have more comprehensive coverage. These supplemental plans may include Managed Care HMO plans or Medigap PPO plans that provide you with greater access to participating physicians. Medicare and Medicaid are both excellent programs for those individuals who qualify, but they are no substitute for a system which allows us all to access basic private medical insurance cover at a cost which we can afford.
Medical Insurance also known as health insurance is a protection to individuals and their families against unforeseen expenses. In the process, there are two parties namely the insurer and the insured. Medicaid is for people who come under the low income’s bracket. Every person is eligible for it and having a job does not affect one’s eligibility. Medical terms can be confusing, and before speaking with an insurance agent, you should make sure you understated his or her language. Make sure you read our overview of health insurance companies to get a better idea of each provider’s identity.
Individual companies are free to evaluate the risks to insure you in whatever manner they see fit. Each health insurance company employs people (actuaries) that try to calculate the statistical risks involved in insuring you, and not surprisingly, has a slightly different view of the statistics. Individual health insurance works differently. It generally can’t be terminated just because you use it, but you can be turned down in the first place if you do not pass health underwriting; you can be rated up if you have a history of illness or obesity; and your premiums can be and often are increased if you suddenly have a major illness. Individual health insurance covers different types of injuries as well. An active lifestyle increases the risk of accidental injuries and repairing broken bones can become very expensive.
Individual health insurance is State specific. Each state has slightly different laws and regulations governing the implementation of private individual health insurance.
Hospitalization, medicines, doctor fees can be very high and if the patient cannot get a suitable insurance cover, it is very difficult. Health insurance can be a tough battle for cancer patients. Hospitals have an extraordinary ability to save life and without health insurance you could be medically saved but financially ruined. Hospital cash plans are a form of medical insurance that takes care of everyday medical costs. Many will pay for dental or optical treatment up to a set limit every year; physiotherapy; specialist consultations etc.
Comparison of your options: To be able to find an affordable health insurance you must have an idea of all. What is available in the market? After you have shopped enough get hold of a broker who can help you in comparing the policies. Comparing health insurance is a case of finding the right health insurance provider to cover your particular circumstances as well as comparing the types of policy provided by each health insurer.
Comparing Medical Insurance isn’t just a case of finding a handful of brand names and trusting they have everything covered in their policies. The cover varies wildly, as will your medical insurance quotes. Compare several plans from top rated medical insurance companies and apply online.
COBRA, short of Consolidated Omnibus Budget Reconciliation Act, came into being in 1985, and it is also a low cost health insurance option for short-term coverage up to 18 months. It’s great for transition periods such as school age children, widowed spouses, divorced couples, and other situations where you may have been covered by employee programs previously. COBRA has an 18 month limit, or 36 months if you’re permanently disabled. Most people are under the impression that COBRA is expensive, or that it’s better to stay with a plan they know.
Again, depending on where you live, requirements may be stringent. However, it wouldn’t hurt to see if you or your family qualifies. Ask around to find out about the different agents and their policies. Many agents will work very hard to get you an affordable health insurance plan for your family at a cost you can live with. Ask if the agent will be available for phone calls and if he or she will make phone calls on your behalf if you have questions in the future. Ask your agent to be sure.
Ask for a quote from several sources, and see what kind of a deal, they can get for you. Make sure they are also licensed in your state, because it does no good getting insurance if they can’t operate in your state. Ask about policy rates, terms, services, co-pays, and claim procedures. If the representative has a difficult time answering your questions, or you just don’t think the company is legit, consider visiting your state’s Department of Insurance website to read through reviews and financial information of the company.
Thank you for taking your time to read this article. Your comments on this article will be highly appreciated. To access Hundred of Gurmit’s articles, please visit websites.
Information shared here does not constitute financial, legal, or other professional advice, and no advisor-client or confidential relationship is or should be formed by use of the site. This article is intended to provide general information only and does not give advice, which relates to your specific individual circumstances. Information in this document is subject to change without notice. Any link-listing or ad-listing on this site does not constitute any type of endorsement.
Gurmit loves traveling; he has been over 70 countries. He speaks fluent Cantonese, Polish, Hindi, Punjabi and English. Gurmit is an author, writer, insurance and mortgage expert. He frequently writes on various topics of interest to his readers. Gurmit Singh is a licensed mortgage expert with Dominion Lending Centres Mortgage Villa.
By: Gurmit Singh Toor
Health Insurance – Understanding The Benefits Of COBRA
January 19th, 2010
The Consolidated Omnibus Budget Reconciliation Act of 1985, more commonly referred to as COBRA, is a federal law which is designed to ensure that an individual can continue to receive health insurance coverage for a period of up to 18 months following the termination of his employment. Most, but not all, companies that offer group health insurance schemes to their employees are subject to COBRA. In some circumstances coverage under COBRA can be extended from 18 months up to a maximum of 36 months.
COBRA protects individuals from losing their health insurance benefits when they lose their employment and is a temporary measure that is designed to help people through this potentially difficult time This said, not every employee who loses his employment will qualify for COBRA but employers should be conversant with the law and be able to advise their employees accordingly.
The law permits a terminated employee to purchase health insurance for himself and his family (provided the family were covered during employment) at the group coverage rate even though the employee is technically no longer a part of the group. The cost however can be high as the employee will now need to pay 100% of the cost each month, together with a surcharge of 2%.
Although most often thought of in terms of termination, COBRA can also come into effect in the event of a change of employment status such as reduced hours, or divorce from an employee of eligible status. Cover will normally continue for the time specified in the act or a shorter period if the employee takes out individual health insurance or is covered by another group health insurance plan.
Because COBRA extends a terminated employees health insurance for a period of 18 months, terminated employees do not need to worry about a change in their health insurance benefits. Coverage under COBRA insurance remains exactly the same as that provided during employment and the only change is in the responsibility for the payment of monthly premiums. It should be noted however that it is possible for the benefits under COBRA to change if an employer changes the health insurance plan being offered to current employees during the period of cover.
The important thing to remember about COBRA is that it is designed to be a temporary measure and, while that guarantees health insurance coverage for a period of up to 18 months, once this period expires you will find yourself without health insurance unless you make alternative arrangements or are covered by a group scheme from a new employer.
One of the dangers of COBRA insurance lies in the very fact that it is temporary. If, for example, you should fall ill while covered by COBRA you may find it difficult, or indeed impossible, to get future health insurance if this illness is subsequently classed as pre-existing and is ‘uninsurable’, as might be the case if you were to develop cancer.
By: Donald Saunders