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Is there really such a thing as high risk health insurance companies?

high risk health insurance companiesIndividuals with less than perfect health will be relieved to know that there are indeed high risk health insurance companies. In fact, there are a variety of health insurance companies that offer different forms of high risk health insurance. Even people who are in poor health or suffer from a chronic illness can get at least a limited amount of coverage, although it usually comes at a high price.

Enter your zip code in the free search tool now to locate health insurance rates, regardless of your current health.

Having a pre-existing condition is the major factor which will make it necessary to seek out high risk health insurance  companies. Included in these pre-existing conditions are cardiovascular conditions, immunodeficiency diseases, neurological issues and many types of cancer.

Lifestyle choices, sports activities and select professions may also dictate that a person needs high risk health insurance. If you have been unsuccessfully searching for individual health insurance, you just may fall into the high risk category.

What can I expect from high risk health insurance companies?

You should expect high risk health insurance companies to charge more for their coverage than other insurers. This is because these companies are taking on a higher risk of paying out large amounts for medical care than insurers who focus on insuring healthy people.

You should also expect to encounter stricter rules for the paying of claims. It is very important to read the fine print and understand a high risk policy thoroughly before committing to it.

As with all health insurance, there are a variety of different forms of high risk health insurance policies to choose from. You will need to select the type that best fits your needs and your budget.

You will also be expected to make choices concerning health insurance deductibles, limits and more. The lower your deductibles, the higher your premiums will be. The higher your limits, the higher your premiums will be.

Some of the options you will have to choose from include catastrophic health insurance coverage, major medical insurance, and guaranteed issue health insurance plans. Catastrophic health insurance will provide coverage for you in case of a serious illness or accident only, but will not cover chronic nor everyday issues.

Major medical insurance is traditional coverage that takes care of serious illness, chronic illnesses and preventative medical care. Guaranteed issue health insurance is a plan that automatically accepts all applicants regardless of their health.

What other options do I have for high risk health insurance?

As of the end of 2010, 34 states offered a high risk health insurance pool with more than 220,000 people enrolled. If you live in one of the states that offers such a program, you can obtain coverage this way. This is a combined pool that all insurers take part in to guarantee that all residents of that state have access to reasonably priced health insurance regardless of their health condition.

The only other health insurance choice for those with pre-existing conditions is to find an employer who provides group insurance. Group health insurance through an employer must accept all eligible employees. However, changing jobs just for the sake of insurance often creates other complications.

How do I choose between high risk health insurance companies?

When you are seeking high risk health insurance or other types of insurance, it makes sense to shop around carefully and compare the different companies that are out there. One of the ways to check out insurers is to find out what other consumers are saying about those insurance companies. You can do a simple online search for reviews or complaints about a company by name.

You should also check with consumer reporting organizations like the Better Business Bureau. Learning about the numbers and types of complaints filed about a high risk health insurance company will provide you with valuable information about whether or not they will be a good choice for you.

Before settling on any one high risk health insurance company, be sure to check them out using one of the independent insurance ratings companies like A.M. Best. Such companies give ratings based on the financial strength of insurers. The grade a company received will tell you whether or not the company is financially sound enough to meet its present and future commitments, and if it has a good outlook for the future.

To find the health insurance quotes you need for your next policy, simply plug your zip code into the free quote tool on this page to get started now.

 

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