Is it possible to find an individual health insurance plan for a diabetic?
It is indeed possible for a diabetic to find individual health insurance plan. However, it will not be the cheapest health insurance plan on the market, nor will it be the one with the most extensive coverage. Most people are aware that it can be hard to find health insurance for people with preexisting conditions.
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Typically diabetics who get an individual health insurance plan will have an exclusionary period where expenses relating to that preexisting condition are not covered. There is an increased risk of serious complications for people who have diabetes. Because of this, insurers will charge a higher rate to insure them.
Does my location impact my coverage?
Each state has its own set of guidelines when it comes to health insurance and especially issuing health insurance. In some states, you are at the mercy of the insurer. If you do not meet the health insurance company’s conditions and underwriting guidelines you will be left uninsured.
However, increasing numbers of states offer a high risk health insurance pool. This pool provides for health insurance for those who are unable to get coverage elsewhere. Made up of the different insurers in the state, it typically offers limited coverage at a premium price.
If you are lucky enough to live in one of the guaranteed issue states for health insurance, you cannot be turned down. Residents of Massachusetts, New Jersey, Maine, New York and Vermont cannot be refused coverage, even if they have diabetes or another chronic condition. In order to learn about the different guidelines for individual health insurance issuance in different states, check out the Kaiser Family Foundation State Health Facts website.
Can I lower the cost of premiums?
In order to lower the cost of health insurance premiums for your individual insurance, you can opt to make a few choices. Choosing a higher deductible will help keep your premiums lower. Higher out of pocket limits will make a huge difference to how much an insurer charges you to assume the risk of your health coverage.
You can also choose to invest in a HSA or Health Savings Account, which allows you to put aside tax-free earnings to cover the cost of health expenses. For diabetics who know they will spend at least a certain amount yearly on such expenses, it is a wise way to reduce the overall cost of their medical expenditures.
By focusing on improving other aspects of your health, you can also help to lower your individual health insurance in the long term. This means losing weight if you are overweight and quitting smoking if you smoke. Consider stopping any high risk activities you take part in, like extreme sports.
Am I choosing the right company?
Choosing the right company for your individual health insurance needs is multifaceted. It is important to not just accept the first company that actually offers you a policy because you may be simply throwing away your money.Health insurance companies that write high risk cases want to make money too.
Investigate any company you are thinking of getting coverage with before you commit to a policy.
You can find out about the financial stability of an insurance firm by visiting one of the independent insurance ratings agencies, like A.M. Best. Such companies regularly analyze the finances of insurers and assign letter grades. By opting for a company with a letter grade of A or better, you can feel confident that it is able to meet its financial commitments in the present and will likely remain in business for the foreseeable future.
You should also check into the customer service reputation a company has prior to buying health insurance coverage with them. If dealing with the insurer is going to be time consuming and difficult, you may want to look at other health insurance options. In order to find out such information, hearing from actual customers is very useful.
Luckily there are consumer organizations that compile information based on complaints of different companies that you can access when choosing an insurer. You can also do a search on the Internet for the company and any reviews or complaints of it. Such information is at your fingertips if you look for it.
If you are ready to see some individual health insurance rates, get started by inputting your ZIP code in the FREE quote tool now!