Indiana Individual Health Insurance
Medical insurance not just an option, it is an inevitable precaution for every family. A suitable health coverage can prepare you and your family from potential health risks and the costs associated with the treatment of the same. If you are currently uninsured, looking into a Indiana individual health insurance policy is a smart choice. As an Indiana resident, you should educate yourself in the state laws and regulations that affect these individual health plans.
Eligibility: How Am I Evaluated?
In Indiana, a health insurer has the flexibility to decide how applications are handled and who gets accepted for a policy. Many insurers use factors such as health status, age, and lifestyle habits to decide who they will cover. There are no regulations on why an applicant can be turned down and an insurer can deny you for almost any reason.
In fulfillment with HIPPA Group-to-Individual Portability Coverage regulations, Indiana guarantees issuance of health insurance via the Indiana Comprehensive Health Insurance Association (ICHIA), which manages the state's high-risk health insurance pool, to HIPPA eligible consumers who have been unable to obtain a policy from a private health insurance provider.
Indiana Guaranteed Benefits & Pre-Existing Conditions
The state of Indiana does not require insurers to carry any standardized policies. The law does require all insurers to cover certain benefits on all plans, for every individual. These benefits include diabetic supplies and services, cancer screenings for breast, prostrate, colorectal cancer and continuity care for pregnant women.
Pre-existing conditions are more heavily regulated in Indiana than in many other states. Under Indiana law, an insurer can exclude pre-existing conditions from your policy for up to 12 months and can look back in your medical history for up to 12 months prior to your application, to determine what will count as a pre-existing condition. Insurers may not impose eliminations riders in Indiana on your individual health insurance policy, but they can impose a waiver on the policy. With a waiver, an insurer can exclude a pre-existing condition from your policy for up to 10 years, but they can only impose 2 waivers per person.
Indiana Individual Health Insurance Premiums
What you are charged for an individual health insurance policy in Indiana is up to the insurer, as there are no limits under Indiana law on how much you can be charged for a policy. Factors that many insurers take into consideration include age, health status, plan type, and family size. Insurers can use any of these factors to quote you a higher premium rate. However, at the time of renewal, your insurer cannot deny your renewal due to sickness or declining age. But the insurer may raise your premiums to compensate for the changed risk.
Health insurance is valuable and it is your duty to be fully aware of the coverage provided by your health plan and the costs associated with it. Get in touch with an Indiana licensed agent/broker to choose from the variety of health plans.