Health Insurance Portability
Posted by admin in Health Insurance on June 14, 2011
I am sure you are familiar with the mobile number portability by now. It gives the consumer the freedom to choose his or her own mobile service provider. The Health Insurance Portability also gives consumers the same freedom regarding health cover.
Even though this service is not yet available in India, the Central Government and Insurance Regulatory and Development Authority (IRDA) has cleared the way to roll out this service in India.
Presently, the consumers have the right to take health insurance in India from any provider of their choice. Websites like policybazaar provide a number of options in this field. However, if a consumer decides to change its health care provider, he or she is not allowed to carry forward the cover of previous provider to the new one.
This creates the problem of pre-existing condition. Suppose, a person has a mediclaim policy and he develops a chronic disease. In such a scenario, if that person wants to change his insurance provider, then he will lose the cover for that disease as it will be deemed as a “pre-existing condition”. This forces many patients to stay with their present health cover provider, even though they are not entirely happy with it. Read the rest of this entry »
Affordable Health Insurance Plan
Posted by admin in Health Insurance on June 14, 2011
The individual health insurance market has changed drastically over the last year. Despite all the changes and the debate whether health care reform would be positive for our nation, you can find solace in knowing that health care has become simplified in recent months then before. You are now able to know when shopping for affordable health insurance the plan you choose is going to come with a few basic options; this is across the board, regardless of what insurance company you choose. Finally some standardized rules that we can all benefits from.
One of big changes to health care is no lifetime cap; previously insurance companies would cap you out between 2 – 5 million dollars. Now most people would never reach that lifetime cap, however the family who experiences any sort of critical illness understand that the 2-5 million dollars can be used very quickly. Removing the lifetime cap was essential in providing consumers the security needed in the individual market.
Another change in health care, is all insurance companies must cover your wellness exams. This is crucial in promoting wellness and making sure you are able to go in for an annual exam, such as a physical, blood work, pap smear, mammogram, psa exam, immunization shots, colonoscopies (after a certain age). Most Americans would not go for there annual exams because the insurance companies would not cover these visits, or would only cover a percentage. As of January 1, 2011 wellness exams are covered at 100%, not subject to your deductible or co-pay. Read the rest of this entry »