WEDNESDAY, OCTOBER 18, 2023
Your health and wellness are integral parts of your overall quality of life. But even if you commit to a healthy lifestyle and avoid dangerous hobbies or behaviors, you may eventually suffer injuries or develop illnesses that require medical attention. Given rising health care costs, paying for services can create significant financial stress. With this in mind, fully understanding your health insurance options is essential.
How Does Health Insurance Handle Preexisting Conditions?
Preexisting conditions are health issues you already live with before applying for coverage. The Affordable Care Act (ACA) establishes that ACA-approved plans cannot deny coverage based on preexisting conditions. This means that policies purchased through the health insurance marketplace or acquired through your employer cannot discriminate in such a way. The only potential exceptions to this rule apply to individual health insurance plans purchased before March 23, 2010, and short-term health insurance.
When Is Short-term Health Insurance a Viable Option?
Short-term health insurance is one of many coverage options available. As its name suggests, this type of health plan provides financial protection for policyholders for a limited time. Typically, these policies span one to 12 months, and you may be allowed to renew them for up to three years.
By having short-term health insurance, you may have access to preventive care and medical services. However, these policies are not regulated in the same way as ACA plans, so certain services may not be covered, and preexisting conditions may disqualify you.
Despite some limitations, short-term health insurance may be an appropriate solution for some parties, such as the following:
- Young people who have aged beyond eligibility for coverage under their parents’ insurance
- Older adults who will soon turn 65 and become eligible for Medicare
- Families who missed the ACA open enrollment period
- New hires who have a waiting period before employer-sponsored coverage takes effect
- Short-term health insurance is unavailable in some states, so you should consult a qualified insurance professional to discuss your circumstances before pursuing such a policy.
What Factors Influence Health Insurance Premiums?
Like many types of insurance, the cost of adequate health coverage may vary significantly depending on various factors, including the following:
- Type of plan
- Number of insureds listed
- Tobacco habits
- Policy details (e.g., deductibles, copays and coinsurance)
Get the Right Coverage
At RCU Insurance Services, we have over 20 years of experience working with dozens of carriers to secure optimal coverage for families, individuals and businesses. Our dedicated staff will work with you to assess your circumstances, explore potential policies and secure optimal insurance solutions. Visit our website or call 707-576-5115 for a personalized quote or to learn more.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.
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