Archive for July 2009
Bipolar Disorder – Health Insurance
July 31, 2009 | 
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Obtaining health insurance to cover any mental health condition, such as bipolar disorder, is problematic at best, impossible at worst. For more than a decade, the mental health parity has been a topic of debate. This states that health insurance companies are required to cover mental health conditions at the same level as physical ailments. Many states have local laws in effect, and in October 2008, President Bush enacted the Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Equity Act of 2008. It was not in full force until January 2010, and even now some stipulations remain. As it stands, you probably have limited coverage for your bipolar disorder needs, which is a very frustrating situation.
The particular part of a health insurance policy you will need to pay attention to is the “continuous health insurance” clause. If you have had a period of time, usually 30 days, without medical insurance coverage, then any diagnosis including bipolar disorder will be considered pre-existing and will not be covered. There are a few viable options available to people who fall within this category and are searching for health insurance companies to cover them and their mental condition.
First, you may have options available to you in the form of individual health insurance. This is your only option if you are self-employed and may be the only option if your conditions cannot be covered by job-based insurance. Individual coverage may be more expensive, but you may have the choice to customize your coverage if you can convince the insurance company to cover you despite your diagnosis of bipolar disorder. You may be able to get coverage for some elements, but it may be impossible to have your medications covered if your disorder is classified as a pre-existing condition.
The other option is to look into high-risk pools. 35 states operate these, which are designed to provide a safety net for people whose current health conditions prevent them from obtaining health insurance coverage. To get coverage in this way, you will undoubtedly be expected to pay more than with traditional health insurance because high-risk pools are expensive to maintain. Insurance companies will also take things like your age, gender, smoking status and state in which you reside into consideration when they establish the premiums you will be charged. High-risk pools cannot deny you, even if you have pre-existing bipolar disorder, but they can certainly choose to charge you more.
If you need assistance in locating particular coverages at a pre-determined price, we can help you find a reduce health insurance premium today.
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Posted in Insurance | 
Tags: Diagnosis Of Bipolar Disorder, High Risk, Physical Ailments, Risk Pools, Safety Net, Viable Options | 
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Health Insurance Contracts – Contract Basics
Insurance contracts are binding and legal contracts in which there is a legal agreement made between two or more eligible parties where specific coverage will happen in exchange for the cost of the health insurance premium. The two parties involved in health insurance contracts are the applicant seeking the insurance coverage and the health insurance company that will provide the coverage. Applicants must be of the legal age of consent and be considered mentally competent. The carrier in question must be state authorized to put together insurance contracts and the insurance representative must be licensed as per the state regulations.
While it is not law that the policies be in writing, contracts are always put in writing because of their complexity. So many details need to be discussed and written out in order to ensure the insurance contract meets the satisfaction of both the applicant and the insurance company involved. Each state has regulations and laws that dictate basic insurance contracts and their provisions. This is why such contracts are often of a rather form letter format and any additions must be in the form of riders or exclusions.
Health insurance contracts are always divided into four basic parts:
(1) Title page- the title page or the policy face is the page on which all the pertinent details such as the policyholder’s name, the policy’s terms and limits, the dates the monthly premium is due as well as the dollar amount of the premium are listed. This facilitates ease in finding the important dates and amounts as well as the highlights of the health insurance policy.
(2) Conditions- this page gives specific details to the expectations and rights of both the insured person and the health insurance company in question.
(3) Insuring clause- this the page that highlights the insurance company’s promise to covered losses incurred that are detailed in the policy’s coverage in exchange for the policyholder’s faithfulness in complying with the policy terms and payment of the monthly premium agreement.
(4) Exclusions- a list of risks and details that the insurance company will not cover, meaning things that are not included in the insurance medical coverage policy.
Valid insurance contracts are legally binding on the part of both parties, the applicant or policyholder and the carrier providing the coverage. Applicants agree to the monthly premium and the terms of the insurance contracts while the insurance companies agree to pay for the costs that are specified under the coverage plan.
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