Summary

Read this article before you commit yourself to buying Health Insurance. All too frequently, people make a claim to find out that they weren't covered - this article will help you avoid making the same mistake.

Health Insurance - know your facts. Page 2

Author: Anna Richardson

Pre-existing conditions

Any condition or illness that occurred before the beginning of your

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policy is called a 'pre-existing condition'. You cannot make a claim on a pre-existing condition.

This is why the medical questionnaire is so lengthy and detailed when you apply - they need to see a full picture of your current and past health so they can provide you with an accurate quote. Insurers will often write to your GP for specific details of your medical history, or request you to attend a medical examination.

The subject of pre-existing conditions is another contentious one. Say you broke your wrist playing hockey a few years ago. It seemed to ( best mortgages ) heal but now you are suffering again because it turns out that you have a torn cartilage. If you make a claim for the operation, the insurer could argue that the condition pre-existed the policy, and you would either have to pay for the treatment, or join the NHS queue.

Some insurance companies provide some respite on this issue, by writing a moratorium provision into your policy. This means that as long as you have not suffered ( cheap car insurance ) from the condition for two years, and the first incidence arose in the last 5 years, then you will be covered. Time frames vary and not all insurers provide moratorium provision, so check your policy.

The condition or illness is not covered

Like car insurance, health insurance works as an annual contract and every year, they are at liberty to change your premium and the terms of your cover.

The worst case, but entirely possible, scenario to arise in this case is to be told that the illness that you are receiving treatment for, is no longer covered by your policy. This could happen if your policy comes up for renewal during the treatment. You would have to pay for the rest of the treatment if this did occur.

As medical research advances, there are far more conditions that are now considered treatable. As a result, the line between chronic and acute conditions ( car insurance ) is always moving. There are a number of effects from this. Firstly, because more conditions are being classified as acute, more claims are being made. New treatments are also becoming increasingly expensive, Herceptin for example.

The net result is that the insurers are getting hit where they hurt the most - in the pocket. They have to pay out more, so they pass that straight onto the customer, which means higher premiums for you, especially at renewal time. They also take the opportunity to adjust their definitions and exclusions to lessen the risk of you making a claim, so take particular care to read your renewal notice in full before you sign up for another year.

So if you're thinking about getting Health Insurance, do your research first, and remember that the goalposts are always changing. If you have health insurance and you are in need of treatment, give your insurer a call first to make sure that you are covered, otherwise it's you that will be footing the bill.