5 Tips for Purchasing Health Insurance When You Have a Pre-Existing Condition
Living with a pre-existing condition is difficult enough, but not having proper insurance with these ailments is even worse. Unfortunately this is a prevalent issue for many individuals with pre-existing conditions who are being denied health insurance, or who are being quoted astronomical premiums. If you have a condition that is causing health insurance companies to turn you away, you do have other options. Here are 5 tips for purchasing health insurance when you have a pre-existing condition.
- Become a group. A group can actually be just one person in the insurance world. If you are not able to get insurance independently, become a company. When you are a business or company, you will get the same privileges any other organization would. Insurance companies will not be able to turn you down and in addition they will not be able to raise premiums for any pre-existing condition you have. Before doing this, check with your state laws to see if they allow a “group of one”. In most cases, if you can’t be a group of one, you can be a group of two, so ask a friend, family member, or your spouse if they would like you to “hire” them. While this is definitely “working” the system, in some cases it may be your only choice.
- Consider getting COBRA insurance if you’ve been laid off recently and have lost your health insurance. COBRA is typically very expensive to purchase, and the premiums may be outrageous at times, however sometimes this option is the only way to get insured. On the bright side, if you have been laid off since September 1st, you are eligible to receive deep discounts from COBRA–up to 65 percent!
- Find out your state’s laws regarding high-risk pools. Currently, 30 states offer these pools to thousands of people who are considered “high risk” and who would not be able to obtain affordable health insurance otherwise. These are specifically for people with pre-existing conditions.
- Reach out to professional groups you are involved with through your career or even from college organizations that you were involved with. Often these professional groups will offer health insurance to members such as a real estate investors group or a freelance writers’ organization.
- If you lose employer-insurance, be sure to reapply for insurance within 63 days of the termination. In all states, there is one insurance company that is designated by the state to have to accept all applicants. This must be done within that 63 days time period after you lose your previous group insurance and you must adhere to their rules and procedures in order to get the coverage you are entitled to by the state.
Looking for reasonable, affordable, and effective health insurance when you have a pre-existing condition of any kind may seem like a nightmare for individuals who don’t know where to turn. Luckily, if you are well informed you can use these tips to navigate the system, research insurance companies like iCanBenefit insurance, and find coverage that will work for you and your health needs.