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Common
Health Insurance Questions
Q:
How long does it take for coverage to be approved?
A: It typically takes 4-6 weeks.
Q:
What does "medical underwriting" mean?
A: Medical underwriting is a systematic process
that insurers use to evaluate information about a health
insurance applicant. Based on the medical information
collected, an insurer can accept the applicant
for coverage, exclude certain conditions from coverage
or deny coverage completely.
Q:
Are there insurance products available without medical
underwriting?
A: Yes, products are available without medical
underwriting or pre-existing waiting periods for those
that meet certain criteria
specified by the Health Insurance Portability and Accountability
Act (HIPAA). Contact us
with questions regarding HIPAA eligibility.
Q:
What is a deductible?
A: A deductible is the amount of medical expenses
you are responsible for before the plan will begin to
pay. A higher deductible will
result in a lower premium.
Q:
What does "80/20" mean?
A: The insurance company pays eighty percent
of the covered medical expenses and you pay twenty
percent.
Q:
What does "pre-existing condition" mean?
A: Any medical condition which you have sought
medical advice or treatment for in the past. Many companies
look back as long as seven years in determining if a
condition is pre-existing or not.
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