Why Should You Inform About Your Pre-Existing Medical Condition To Your Insurer?
Updated On Aug 23, 2022
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Health insurance coverage can no longer be purchased. And if you are wise, you would think about purchasing an all-inclusive health insurance plan to protect your wellbeing. But, many of us purposefully commit a basic error while choosing healthcare insurance coverage. The error is falsifying or omitting to disclose any already existing health condition on the application form.
You must believe that telling others about your current medical issues might cause issues and lead to a policy being rejected. Additionally, even if your insurance application is granted, the premium cost will skyrocket. In order to avoid problems while filing a claim, it is advised that you let your healthcare provider know about any existing medical conditions.
What Are Pre-Existing Medical Conditions?
In order to avoid problems while filing a claim, it is advised that you let your healthcare provider know about any existing medical conditions. Already existing conditions are illnesses, which you already have at the moment you purchase a new plan of healthcare coverage.
How Are Already Existing Conditions Handled By Medical Insurance Plans?
Already existing conditions are often covered by healthcare coverage plans after a certain period, sometimes referred to as the "waiting period." The length of the waiting time for already existing conditions might range from 12 months to 48 months, depending on the policy you possess. Any health disorders brought on by already existing illnesses will not be reimbursed by the insurance throughout this waiting time.
Already existing conditions will, however, be covered after the waiting time provided when you extend the coverage each year. This implies that you might make claims based on already existing diseases.
Does Healthcare Coverage Cover Already Existing Conditions?
Already existing conditions are usually covered by insurance, but often after a waiting time. The waiting time might be anything between one and four years long, based on the policy you choose and your age. Your healthcare expenditures won't be paid if you get sick because of an already existing illness and need hospitalization throughout this time. When your coverage is first issued, the waiting time is only applicable one time.
As soon as the waiting time is finished and you extend your coverage each year, already existing conditions will be included. To avoid the waiting time, several healthcare providers provide a 'Waiver' of already existing condition coverage, which indicates that your current medical conditions will be insured by the plan. A perk called the waiver waives restrictions and pays for any medical costs brought on by an already existing ailment.
Why Is Stating An Already Existing Condition Advisable?
Most of us might think that reporting already existing conditions while obtaining the coverage will result in claim denial. Additionally, the premium would go up if the coverage is authorized without mentioning your already existing illnesses. Your claim would probably likely be turned down if you don't tell your already existing problems and the healthcare company finds out about them afterward.
The insurance company will deem the policy worthless and cancel. For a speedy claim resolution, it is important to be open and truthful regarding your already existing diseases and other information in the registration form. Yes, you won't be protected till the waiting time is through, but waiting is preferable to having your claim denied.
Therefore, if you possess any health complications, you should immediately disclose them as the underwriting of the insurance is dependent on your healthcare disclosure.
Conclusion
You have to be honest while obtaining healthcare policy coverage regarding your previous and present medical conditions. Withholding any details from your insurance may lead to both claim denial and policy termination. To ensure that your already existing conditions are included as quickly as possible, do extensive study and get healthcare coverage with a minimal waiting time.
Also read: Health Insurance Plans For Senior Citizens
