| SolveYourProblem
eLearning Series:
Your Most Popular Insurance Questions
Answers For Health and Home
Insurance
( 50 articles
in this series )
Got Diabetes:
Health Insurance Coverage
Diabetes, also known as hyperglycemia, can
be the precursor of devastating health problems. The inability
to produce sufficient insulin leaves the body vulnerable to
a dangerous glucose buildup that will eventually lead to heart
disease, stroke, high blood pressure, kidney disease, blindness,
amputations, and a host of other complications. In the past,
patients who suffered from diabetes and sought to
purchase health insurance coverage were very often denied
a policy and
labeled as “uninsurable.” While Medicaid and Medicare are the
legislated safety nets for American society, many an uninsured
diabetic found that he or she did not qualify for benefits
under these plans, and hence was in the awkward position of
desperately needing healthcare coverage yet being unable to
receive it.
Fortunately, things have changed somewhat, but diabetics
still need to be savvy consumers! For example, if a consumer has
not had insurance coverage for more than 63 days prior to seeking
new coverage, then some insurance companies, although will
now insurance patients who suffer from diabetes, will
require a waiting period. This waiting period may be as long as six
months; and since diabetes is a chronic illness that requires
constant care, this will be a very costly six months for a
patient. Additionally, other insurance companies simply exclude
pre-existing conditions altogether, and will only cover non-diabetes
related illnesses. For a diabetic this is a most dreaded circumstance.
It is not surprising that those who have the misfortune to
fall through the cracks of the healthcare system very often
incur staggering medical debts, and sometimes even find themselves
forced into bankruptcy because of the mounting medical bills.
In order to avoid this spiral of misery, here are some suggestions
every diabetic needs to know about:
1. If you have health coverage, don’t let go of it!
Life’s circumstances change in a blink, and job security is
a thought of the past. If you find yourself unemployed, do
not let go of your insurance coverage! Most employers are now
required to offer COBRA coverage to terminating employees,
and even though the cost for this insurance appears to be forbiddingly
high, it will allow you to navigate around the 63 day exclusion
that some insurance companies will require.
2. Learn about High Risk Pools
The majority of states have created insurance
pools that target patients who have lost insurance coverage
yet who are in desperate
need of medical care. These pools are unique plans created
by individual state legislatures in order to make available
a sturdy safety net for those folks to whom the dreaded term "medically
uninsurable" has been applied. Coverage is frequently
comparable to the coveted 80/20 major medical and outpatient
coverage, and while prospective members may still be denied
plan benefits because of perceived issues of being uninsurable,
this limitation is often restricted to a 12-month period. Thereafter,
acceptance is all but guaranteed. It is important to remember
that this coverage is not free. As a matter of fact, premium
costs are usually quite a bit higher than comparable plans
offered on the open market by competing insurance companies,
yet because of state law regulation, there is a firm cap on
the amount of money a patient may be charged for insurance.
In general, this cap runs between 125 to150 percent of the
base individual market rate. While the cap is firm, there is
still some elasticity in the rates, and they sometimes may
vary based on plan participants’ ages, or even domicile addresses.
Sadly, it is often these high rates that prevent eligible individuals
from seeking out this kind of insurance. Additionally, many
a person in need of such a plan is not aware of its existence!
3. Get educated
If you are unsure what kind of diabetes coverage your state
mandates, make a phone call to your local state insurance commissioner
to find out exactly what the individual coverage requirements
are in your state, and also where to start looking for insurance
companies.
4. Purchase Medigap Insurance
Medicare recipients know that many expenses are not covered
by the program. However, if a patient applies for a Medigap
policy within six months of first becoming eligible to Medicare,
the program will not be able to deny the additional coverage
because of chronic diabetes.
Click here to to view health insurance quotes, compare plans side-by-side and apply for the most affordable health insurance within your budget. I did this myself (June 17, 2011) to change my health insurance policy. Saved me $84 per month (or $1,008 per year). It's my SolveYourProblem recommendation.
# # # # #
by SolveYourProblem.com : 2005
> Home > Insurance
Articles : Main Page
|
