Given our fast-paced and increasingly unhealthy lifestyles, a health insurance policy has become a necessity, more so after the coronavirus pandemic that extracted a mental and an economic toll from people in terms of medical emergencies. Since most health insurance policies extended coverage to Covid-19 care and treatment, it helped people face the pandemic. But what about pre-existing health conditions? It’s now more important than ever to know and find out how your insurance policy or the one you plan to buy deals with health issues that you may already have.
A pre-existing condition means the health issues that a person may be facing prior to buying an insurance policy. These conditions include all minor and major health issues – from high blood pressure, thyroid, diabetes, and asthma to cancer.
Health insurance companies do not show much interest in providing health cover to those with pre-existing conditions because these clients carry a greater possibility of filing a claim and thus raise the financial risk of insurance companies. Individuals with pre-existing conditions should do thorough research to find a suitable policy for them.
Tips to choose an insurance provider if you have any pre-existing conditions:
1. Insurance policies vary from company to company. Some insurance providers take into consideration the entire medical history of an individual while others just consider the medical history of the past few years.
2. Do not hide a pre-existing medical condition from the insurance company when buying a health cover. The insurance company can reject your claim if they find out that any information related to that health condition had been hidden from them.
3. Health insurance companies do not consider short-term ailments like flu, cough, cold, or fever if they do not have long-term side effects. So, every visit to the doctor is not an issue.
4. Some pre-existing diseases are covered by insurance companies. Insurance companies follow a waiting period for such diseases and when the waiting period is over, your coverage will start for that particular disease. Waiting periods may vary from one insurance company to another. If for some it may be two years, while for others it may be four years.