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Labeled as an uninsurable risk?
As an insurance broker I know and understand what it feels like to be un- insurable and be without insurance. My own body was ravaged by an auto accident that left half of it uninsurable. My limbs got so torn up they are the perfect example of a preexisting condition. But that's just bones and joints so I'm the lucky one. Many of you have medical conditions that go way
past the mechanical aspects of health. Your condition involves chemistry and can't be fixed with pins, screws and plates.
In my years as a health insurance broker I've come across pretty much every condition that is considered
to be an uninsurable risk with a private health care plan. This would be opposed to group coverage, through
an employer, where most preexisting conditions are covered. Individual health insurance plans cost less than group because they are not required by law to cover preexisting condition, so they pass the savings on to the policyholders. Even so, private health plans are jumping in cost along with group that is seemingly on a never-ending spiral upwards.
So, what to do about it?
First, if you have a COBRA option available from your previous or soon
to be previous employer, take it ! The cost is high but most preexisting conditions will not be picked up by non-group companies. Depending
on the severity of the condition you will know if it is manageable without insurance or not. Also check out your states high risk insurance pool to
see if you are eligible for that program. Again, the cost is higher than a regular health policy but your preexisting conditions are covered. You
can stay on COBRA for up to 18 months. Once this runs out or if it and
the state insurance program is unaffordable, then alternative healthcare options may be your only choice. Or go back to work for an employer
that provides group coverage.
Other Options
Plan designs for those with uninsurable medical conditions fall into a few areas. There are accident plans, accident plus indemnity benefits, PPO discount plans, straight indemnity plans and discount prescription drug cards. Most of these options are not insurance but discount benefit plans. Some are offering insurance in the form of indemnity plans. While not a
comprehensive major medical type of coverage they do provide some
protection and cost savings. Uninsured healthcare options are on the rise.
How do indemnity plans work?
They operate as reimbursement vehicles. You incurr a medical expense and they reimburse you in accordance to the provisions of the policy you have with them. Indemnity plans are where health insurance started, so
it’s an old concept, that is still with us and works. Depending on how you use these plans they can offer some good financial protection and save you a lot of money. The ones we found below are affordable too.
Recommended site for Uninsurable Health Insurance
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