Louisiana Individual Health Insurance
As the healthcare costs continue to rise, it becomes important to have health insurance that protects you and your family against unaffordable medical expenses and unwanted illnesses. If you are currently uninsured, looking into a Louisiana individual health insurance policy is a smart choice. Since you are considering individual health insurance in Louisiana, you may want to know more about the Louisiana laws regulating individual policies.
Eligibility: How Am I Evaluated?
First, there are no restrictions on medical underwriting in Louisiana when it comes to the evaluation of applicants for individual policies. Most insurers will evaluate you based on your health status, gender and age, but they can use any rating factors to approve or deny your health insurance application. With an individual health plan, an applicant can be turned down for any reason.
There are no restrictions or limitations and no one is guaranteed coverage. However, to comply with HIPPA Group-to-Individual Portability Coverage regulations, Louisiana residents are offered guaranteed coverage into the Louisiana Health Plan, the state's high-risk health insurance pool, for individuals leaving a group health plan who haven't been able to obtain other private insurance.
Louisiana Guaranteed Benefits & Pre-Existing Conditions
Although Louisiana does not require insurers to carry standardized policies, they do have to cover certain benefits, such as screening for breast, prostate, colorectal and cervical cancer, medical care for clinical cancer trials, vaccinations and hearing aids for children and post delivery hospital care for new mothers. The Louisiana state mandates health insurers to provide equal coverage and benefits for mental conditions as for physical conditions.
When it comes to pre-existing conditions, insurers are allowed a 12-month look-back period, where they can review your medical history for any indications of a pre-existing condition, if you file a claim against a specific condition with in the first 12 months of your policy. If so, then they reserve the right to deny your claim. They can also attach pre-existing conditions to your policy's elimination rider. The health insurance company can impose a 12-month exlusion period for the pre-existing health conditions.
Louisiana Individual Health Insurance Premiums
When it comes to premiums, the insurer does not have to abide by any laws when determining a policy rate. They may set your rate for any amount they choose, for any reasons. There are also no restrictions on individual health insurance rates or any limits on how much an insurer can charge for a health insurance policy. Your insurer is also allowed to raise your insurance premiums on your Louisiana individual health insurance policy. However, your insurer cannot cancel your policy because of an illness and they can't deny you the chance to renew your policy, unless they have discontinued the policy type for all customers or have withdrawn from the individual market altogether. Although, the health insurer is allowed to charge high premiums to compensate for the risk increased by that illness.
Before selecting a health insurance policy, you need to know exactly what is and isn't covered by your policy and how much you will pay in your premiums. Contacting a qualified broker or agent can help you in determining the perfect health plan coverage suitable to you and your family's medical needs.
