Health Insurance For Family & Individuals
55 percent of Americans wise enough to have health insurance have received it via a plan set up by their employer.
A further 25 percent have a government plan such as Medicaid or Medicare to thank.
If you have an employer that does not provide you with health insurance, or you are self-employed, then you will need to get an individual health plan in order to satisfy your insurance needs.
If you have stumbled across an article of this type online, then you are clearly on the lookout for health insurance that you can afford.
Being approved for individual coverage is far more difficult than its group insurance counterpart, as every policy will be underwritten separately, meaning that your medical history will be put under the insurance company's microscope.
Remember, insurance companies are the antithesis of a non-profit organization.
They insure you in the hope that what you pay them over the course of your lifetime is more than what they have to give you.
With this in mind, it is pretty obvious why they will reject most applicants with previous medical problems.
Alternatively, they may insure you with the proviso that they will not be liable for any medical issues you have had before they insured you.
They achieve this by placing what is known as a 'rider'on your policy.
Clearly then, it is better to get health insurance while you're young, and relatively healthy.
As the risk is spread in group policies, insurance companies have no problem allowing people with prior medical problems on board.
If a member of a small group gets stricken with a serious illness, then all members will suffer in the form of higher premiums.
Therefore, bigger groups are satisfactory to all parties.
When you do decide to apply for medical insurance, disclose all medical problems, no matter how small or insignificant they may seem.
If you fail to do this, then you are leaving yourself open to a controversial process known as 'rescission'.
This is when an insurance company has reviewed your policy and medical records, (they do this thoroughly) and found that you have not told them about a particular ailment.
This gives them the right to cancel your policy, usually at a period in your life when you desperately need it.
While you may think that insurance companies use scaremongering tactics in order to get you to buy insurance, it is of critical importance that you insure your family and yourself against harm.
More than 60 percent of bankruptcies are caused by medical bills.
Being self-employed leaves you extremely open to financial trouble as you are only one medical problem away from losing all you have worked for.
Over a six year period, more than 145,000 Americans perished due to lack of health insurance, they either had no medical care administered, or else they received it far too late.
If you are self-employed, and therefore haven't got group health insurance, your options are limited due to companies refusing to grant you insurance, because of prior medical problems or the dreaded rescission in a bid to raise profits, yet there are still possibilities.
First of all, you need to take account of, and manage your risk.
If a serious medical problem occurs, then you should know how much debt is acceptable for you to be in as a result.
With this in mind, you should purchase a policy with a high-deductible.
This will ensure that you are covered against major illnesses by the insurance company because you are taking care of the minor problems yourself.
Another way around this tricky situation is having the partner of the self-employed individual procure employment at a company that offers medical insurance.
While it will more than likely only take care of the employee's health insurance and childcare benefits, it would still shield you somewhat from a major illness.
Are you Unable to Get Privately Insured? There are some 35 states that accept high risk health insurance cases who have been rejected by private insurance companies.
This is the case in Minnesota, where the plans are offered at a reasonable price, though still above what one would pay for private medical insurance.
These plans vary quite a lot depending on the state.
Minnesota has the ability to provide this insurance because it has had the plan funded in some way by other companies who provide health insurance in the state.
Other states are not so fortunate, with some being badly under-funded, and others having to shut down the program entirely due to bankruptcy.
A further 25 percent have a government plan such as Medicaid or Medicare to thank.
If you have an employer that does not provide you with health insurance, or you are self-employed, then you will need to get an individual health plan in order to satisfy your insurance needs.
If you have stumbled across an article of this type online, then you are clearly on the lookout for health insurance that you can afford.
Being approved for individual coverage is far more difficult than its group insurance counterpart, as every policy will be underwritten separately, meaning that your medical history will be put under the insurance company's microscope.
Remember, insurance companies are the antithesis of a non-profit organization.
They insure you in the hope that what you pay them over the course of your lifetime is more than what they have to give you.
With this in mind, it is pretty obvious why they will reject most applicants with previous medical problems.
Alternatively, they may insure you with the proviso that they will not be liable for any medical issues you have had before they insured you.
They achieve this by placing what is known as a 'rider'on your policy.
Clearly then, it is better to get health insurance while you're young, and relatively healthy.
As the risk is spread in group policies, insurance companies have no problem allowing people with prior medical problems on board.
If a member of a small group gets stricken with a serious illness, then all members will suffer in the form of higher premiums.
Therefore, bigger groups are satisfactory to all parties.
When you do decide to apply for medical insurance, disclose all medical problems, no matter how small or insignificant they may seem.
If you fail to do this, then you are leaving yourself open to a controversial process known as 'rescission'.
This is when an insurance company has reviewed your policy and medical records, (they do this thoroughly) and found that you have not told them about a particular ailment.
This gives them the right to cancel your policy, usually at a period in your life when you desperately need it.
While you may think that insurance companies use scaremongering tactics in order to get you to buy insurance, it is of critical importance that you insure your family and yourself against harm.
More than 60 percent of bankruptcies are caused by medical bills.
Being self-employed leaves you extremely open to financial trouble as you are only one medical problem away from losing all you have worked for.
Over a six year period, more than 145,000 Americans perished due to lack of health insurance, they either had no medical care administered, or else they received it far too late.
If you are self-employed, and therefore haven't got group health insurance, your options are limited due to companies refusing to grant you insurance, because of prior medical problems or the dreaded rescission in a bid to raise profits, yet there are still possibilities.
First of all, you need to take account of, and manage your risk.
If a serious medical problem occurs, then you should know how much debt is acceptable for you to be in as a result.
With this in mind, you should purchase a policy with a high-deductible.
This will ensure that you are covered against major illnesses by the insurance company because you are taking care of the minor problems yourself.
Another way around this tricky situation is having the partner of the self-employed individual procure employment at a company that offers medical insurance.
While it will more than likely only take care of the employee's health insurance and childcare benefits, it would still shield you somewhat from a major illness.
Are you Unable to Get Privately Insured? There are some 35 states that accept high risk health insurance cases who have been rejected by private insurance companies.
This is the case in Minnesota, where the plans are offered at a reasonable price, though still above what one would pay for private medical insurance.
These plans vary quite a lot depending on the state.
Minnesota has the ability to provide this insurance because it has had the plan funded in some way by other companies who provide health insurance in the state.
Other states are not so fortunate, with some being badly under-funded, and others having to shut down the program entirely due to bankruptcy.
