What to Do If You Lose Insurance Coverage
Although the economy is slowly recovering, there are still people throughout the U.
S.
who have lost health insurance due to unemployment.
Although losing your job and your health insurance can be terrifying, there are still options available.
Portability plans take advantage of HIPAA (Health Insurance Portability and Accountability Act) and provide coverage just when you need it most.
If your COBRA coverage is about to run out, you may be eligible for one of these plans.
Be aware that, although a portability plan can fill the gap in your insurance coverage, you cannot expect to pay the same premiums or receive the same benefits as you would prior to losing coverage.
Portability plans owe their existence to the passage of HIPAA in 1996.
This act not only protects individuals who have lost health insurance coverage, but also limits pre-existing condition exclusion periods.
If you have a pre-existing medical condition, HIPAA guarantees renewal of your insurance plan and allows you to buy a new plan without going through an exclusion period at all.
To take advantage of this, however, you must have continuous coverage with no breaks longer than 63 days.
In order to be eligible for any portability plans, you must take advantage of your COBRA coverage first, assuming you qualify.
You will also need to show continuous coverage for the previous eighteen months, with no gaps longer than 63 days.
Your last insurance plan must have been through your employer and you must prove that your loss of insurance was not due to insurance fraud or failure to pay premiums.
You are not eligible if you qualify for Medicare.
Make sure to get a Certificate of Creditable Coverage from your insurance carrier; you will need this to prove that you meet the above criteria.
Purchasing a portability plan might be easier in some states than in others.
Many states require health insurance carriers to offer some of their popular plans to people who qualify for a HIPAA plan.
This allows you to purchase from your old insurance company if you so choose.
In other states, you might only be able to purchase portability plans from one carrier.
Although portability plans are convenient, there may be other plans that suit you better.
If your old employer offers the chance to enroll in a conversion plan, compare the two options in order to decide which the best choice is for you.
If you need more answers to your questions regarding this subject, please visit our website at http://www.
health-insurance-buyer.
com and leave your contact info so one of our licensed insurance agents can give you a free consultation.
S.
who have lost health insurance due to unemployment.
Although losing your job and your health insurance can be terrifying, there are still options available.
Portability plans take advantage of HIPAA (Health Insurance Portability and Accountability Act) and provide coverage just when you need it most.
If your COBRA coverage is about to run out, you may be eligible for one of these plans.
Be aware that, although a portability plan can fill the gap in your insurance coverage, you cannot expect to pay the same premiums or receive the same benefits as you would prior to losing coverage.
Portability plans owe their existence to the passage of HIPAA in 1996.
This act not only protects individuals who have lost health insurance coverage, but also limits pre-existing condition exclusion periods.
If you have a pre-existing medical condition, HIPAA guarantees renewal of your insurance plan and allows you to buy a new plan without going through an exclusion period at all.
To take advantage of this, however, you must have continuous coverage with no breaks longer than 63 days.
In order to be eligible for any portability plans, you must take advantage of your COBRA coverage first, assuming you qualify.
You will also need to show continuous coverage for the previous eighteen months, with no gaps longer than 63 days.
Your last insurance plan must have been through your employer and you must prove that your loss of insurance was not due to insurance fraud or failure to pay premiums.
You are not eligible if you qualify for Medicare.
Make sure to get a Certificate of Creditable Coverage from your insurance carrier; you will need this to prove that you meet the above criteria.
Purchasing a portability plan might be easier in some states than in others.
Many states require health insurance carriers to offer some of their popular plans to people who qualify for a HIPAA plan.
This allows you to purchase from your old insurance company if you so choose.
In other states, you might only be able to purchase portability plans from one carrier.
Although portability plans are convenient, there may be other plans that suit you better.
If your old employer offers the chance to enroll in a conversion plan, compare the two options in order to decide which the best choice is for you.
If you need more answers to your questions regarding this subject, please visit our website at http://www.
health-insurance-buyer.
com and leave your contact info so one of our licensed insurance agents can give you a free consultation.
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