Health Insurance Option For People With Pre-Existing Conditions
Posted Dec 27 2009 10:59pm
If you have a pre-existing health condition and you do not have a job that offers health insurance, then you are probably having problem and are looking at a bigger problem in the future. Because you seemingly have no choice when it comes to taking out a policy for yourself, individual policies would be priced way too high. Also, it is very hard to get an individual policy if you have a pre-existing medical condition. There is an alternative for you depending on what state you are residing in.
High risk pools are the best choice for people with pre-existing medical conditions who are in between jobs, is working on a company that does not offer health insurance, or people who are self-employed. Currently 31 states offer high risk pools and chances are, you are living in one of them.
For a complete list of states offering high risk pools, you can contact the National Association of State Comprehensive Health Insurance Plans. Enrollees in high-risk pools can avail of coverage similar to those who have individual coverage. The limitations to this coverage though are also similar to individual policy coverage. Just like in individual policy coverage, you can have comprehensive major medical policies. This policy should cover a wide variety of disease-related benefits. Usually, people who opt for high risk pool coverage can choose between HMO, PPO, and indemnity plan.
High risk pools though, since they are basically the last choice for people with pre-existing conditions, are priced expensively. Usually, they are priced about 150 to 200 percent compared to individual policies. Apart from that, there is a preexisting condition exclusion period which lasts about six to twelve months. For people with no choice though, it is better than not having any kind of health insurance.
The financial ramifications of being hospitalized and not having any kind of health insurance is so great that it is better to take out a high risk pool coverage than to risk bankruptcy because of the bills you have to pay if you need to undergo operation or other medical needs.
If you do not have any health insurance because you cannot get an individual policy because of a pre-existing condition but has the means to pay for high-risk pool coverage, there is no reason that you should not go for it. We all know that no matter how stable you are financially, the cost of medical procedures could drain your resources.