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 ‘Pre Existing Conditions’
Health Insurance For Diabetics
January 25th, 2010Health Insurance For People Over 50
January 13th, 2010
For anyone between 50 and 65 years who will be looking for some health cover or is already looking, you could be in need of a lot of help. This age is crucial in that many of the body’s systems are just about ready to start failing plunging you into serious health challenges. Using statistics (a tool used extensively to create the product structures) insurance companies know that the expenditure on health for the 20 to 45 year-old group will be a lot less than for the 50 to 65 year-old group. Therefore, the premiums for older persons are higher.
Do not despair, as we are smart we will be sure to find a way. Let us look at some options available.
For those who are still working and may be looking at starting a business or going to retire, there are a few areas worthy of your investigating. Does the company you work for allow you to buy insurance through their plan? For early retirement, if the company allows, they may be able to subsidize a portion of the premiums. If there is no subsidy, you may still be entitled to group rates which are less than for individuals. If you spouse will remain in employment seriously look at joining their plan if this is possible.
Another option is COBRA or Consolidate Omnibus Budget Reconciliation ACT, for those still in employment that gives health insurance cover. Former employees and their families can continue the cover for up to a year and a half. COBRA is also guaranteed. You can not be turned down even for chronic illnesses. The downside is the cost. During your employment the employer normally meets 70% of the premium. Own your own you will cover the full premium and administration costs on top. A 1997 survey showed that on average a retired employee would pay $1,008 for family cover and $373 for the individual health cover.
Even if you are not in employment, there are some options open for you. For those with pre-existing conditions like high blood pressure or diabetes who fail to get insurance, coverage is still available through the states’ high-risk program especially set up to help this group of people. Like COBRA, the premiums are quite high.
You should also check professional organizations that you could join or already a member of or are affiliated to see if the membership offers health insurance cover. As this is a group cover, your premiums will be low.
Lastly, the health insurance scheme for individuals. There are now very good offerings in this area as providers believe the 50-65 age group has potential for growth. These individuals also have a fair income and are in good health. Companies believe that even when the oldies become eligible for Medicare, they will still opt for supplemental cover. Some of these options have monthly premiums as low as $200 for individuals in fair health, but carry high deductibles. Some advisors recommend combining opening health savings accounts (HSA) when taking out a cover with high deductibles. HSA contributions are not taxed, nor are any withdrawals made towards qualified medical expenses and the balance at year end can be rolled over to the next year.
By: Jack Adams
Uninsurable? Four Ways to Get Health Insurance
January 2nd, 2010
It’s a sad fact that many Americans are without health insurance. For some it’s a matter of choice, others simply can’t afford it. There is a third group however, who can afford it and desperately want it, but are unable to qualify for it because of their current or past health conditions. These are what insurance companies refer to as the “uninsurables”.
The presidential candidates this year all put forward ideas for fixing the broken health care system in this country. Hopefully, there will be sweeping changes made that will allow everyone access to affordable healthcare. In the meantime, if you are sick and uninsured, you can’t wait for the politicians to fix the system. You need help today.
Here are a few ways you can get yourself insured now:
1. Get a job. If you’re healthy enough to work, getting a job with a company that offers health insurance benefits may be your ticket to healthcare. As a new employee, you are guaranteed to get coverage. You will have to wait 6 after enrolling in the company’s insurance plan before any pre-existing conditions are covered, but after that you will have full coverage. If it has been less than 63 days since your last insurance policy lapsed, you may have what is referred to as “creditable coverage” which means that the pre-existing clause will be waived and you can get full coverage right away.
2. Start your own business. In the state of California, you can get guaranteed-issue group coverage with as few as two employees. One of these employees can even be your spouse. Things to keep in mind:
a. It must be a legitimate business, but it doesn’t have to show income for the first two years;
b. The business must be the major source of income for all employees You can’t include an “employee” who earns the majority of his/her income from another source.
c. There will still be a waiting period for pre-existing conditions (unless you’ve had creditable coverage within the last 63 days) but once the waiting period is satisfied, you’re good to go. Talk to your local health insurance agent to see if you can qualify for a group health plan.
3. Get married. No, I’m not suggesting you grab some stranger off the street and arrange a marriage of convenience. However, if you already have a life partner, or are in a serious relationship that is heading toward marriage, you might want to consider taking it to the next level. There are many legal benefits to marriage. One of them is access to your spouse’s health insurance. If your spouse-to-be is already insured through their place of work, you can be added to their policy without any underwriting requirements (usually). Again, there may be a waiting period where pre-existing conditions are excluded, but once you’ve satisfied the waiting period, you’re 100% covered.
Have your spouse-to-be check with his/her human resources department to get the full scoop.
4. Consider a mini-med product Some states have what is referred to as “mini-med” products. They are NOT major medical plans and don’t pretend to be. However, they are guaranteed issue (you can’t be declined because of poor health) and they do pay a limited benefit. Something is better than nothing. Although California does not currently offer such a product, it will very soon. We’re told it is coming “any day now.”
Check with your local health insurance agent to find out more.
By: Tamarin Martin