Don’t Wait For Health Care Reform To Solve Your Health Insurance Needs Today

Health Insurance Review

In the past few months, I’ve heard more and more people say they’ll wait for the Affordable Health Care for America Act (a.k.a. Health Care Reform) to resolve their current health care issues. While there are a few elements of Health Care Reform that went into effect in 2010, most people seeking coverage won’t see effects of the new legislation until January 2014. A wait-and-see approach could cost you money and compromise the quality of your health care coverage.

I don’t mean to be an alarmist here, as most people have health insurance coverage that makes sense for them. But if you are a New Hampshire resident who makes your own decisions about health insurance, you should get a health insurance check up periodically to see if you’re where you need to be. Do what’s best for you now and if changes in 2014 provide a better solution for you, make them then. It would be a shame to wait for over three years to deal with something as important as health insurance.

Whether you are buying insurance for the first time or making a change to your current plan, you should be aware that you are not committed to that policy other than month to month. You can make a change any time you wish, providing you meet eligibility requirements. Your insurance company however, is committed to maintaining your monthly premium for one full year.

Also, even though your premiums are likely to increase each year, they are based on your age and market-wide rates.  Your current health, or past claims history has no effect on future premiums of a policy in force and you cannot be cancelled for anything other than non-payment. Another fact to note regards your protection against elimination of coverage for pre-existing conditions. As long as you have prior coverage for at least nine months (with no lapse of more than 63 days), any new policy you qualify for can not eliminate coverage for any pre-existing condition. This protection is commonly misunderstood. The lesson learned here is get covered and stay covered!

Now for a little bit about medical underwriting. Here in New Hampshire, individual health insurance is not guaranteed equally to all who apply. Your (and your family’s) risk factors are assessed, then your eligibility and monthly premium are determined. The basic factors include height/weight ratio, tobacco use, current and past medications, treatments and procedures. With a relatively clean health history, you can qualify for a preferred rate.

With moderate risk factors present, your rate could  increase by as much as 50%. With significant risk factors present, you could be declined by a private insurance company.  If declined, you are automatically eligible for the New Hampshire Health Plan so there is guaranteed access to health insurance for all New Hampshire residents.

The options you have for health insurance coverage can change if your health risk factors improve or if new plans are offered, so it is a good idea to take stock of your plan on a regular basis. We at Affordable Health Solutions are here to help in any way we can. Feel free contact us for a health insurance review (800 890-9591).