Under some preconceived notion, many assume that once they have health insurance coverage, anything is covered. Or, they assume, their doctor says it’s needed, so then the insurance company must cover it. In all reality, policies have Exclusions and Riders that you should know about and read before getting the coverage.
No two policies are alike. Many plans today are put together for many reasons, for individuals, for employers, etc. For one reason or another certain things get excluded. Yet on another policy, those same things could be included. So if you have certain things you are looking for, read the exclusions to make sure they are not listed there.
Another term that has people confused is Pre-Existing. Only certain policies may have this as a condition. Even so, if you do not have break in insurance coverage of more than 62 days, pre-existing does not apply. Let me put it to you a different way. If you are buying into a policy and you haven’t had insurance before, if the policy has this pre-existing rider, then the policy will be sending questionnaires for services prior to coverage. But if you did have coverage before the one you are switching to, then a simple certificate of coverage from the previous insurance will cover you.
When a policy ends you typically get a letter from the company telling you the start and end dates of that policy. This is a certificate of coverage. Keep this, like you should all your insurance documents. You may need to send a copy of it to your new insurance carrier if the new policy has a pre-existing rider.
Of all the insurance terms, these are the most important ones to keep in mind. Cause if you are looking for coverage because you become sick with certain conditions, check the pre-existing and exclusions to make sure this will not be a problem. Education of insurance is imperative to making sure you are buying something that will actually benefit you and your unique needs.
