Rhode Island Individual Health Insurance

Health insurance is an essential security blanket that will be there for you in the case of an accident or severe illness accompanied by costly medical expenses. If you are without group health insurance coverage, purchasing a Rhode Island individual health insurance plan is a great option. Finding out more about the rules and regulations regarding individual health insurance plans in Rhode Island is your first step to deciding if this option is right for you.

Eligibility: How Am I Evaluated?

First, Rhode Island individual health insurance applications are reviewed based on the criteria set forth by the health insurance provider. Most insurers use factors such as health status, age, and lifestyle habits to establish whether to approve a health insurance applicant. Rhode Island law has no rules on the denial of applicants who were previously uninsured and an insurer can turn you down for any reason. If you have had at least 12 months of prior continuous coverage or are HIPPA eligible, private providers must offer you a minimum of 2 guaranteed issue plans to choose from, which must be similar to plans offered to other customers. This allows the state to stay in compliance with HIPPA Group-to-Individual Portability Coverage regulations.

Rhode Island Guaranteed Benefits & Pre-Existing Conditions

For the most part, insurers are not required to include specific policies in their selection of plans. There are no laws in Rhode Island that mandate standardized policies for individual health insurance. That being said, there are a few benefits that all insurers are required to cover under all plans, such as post delivery hospital stays and treatment for diabetes.

With pre-existing conditions, health insurance laws in Idaho prohibit exclusion periods and elimination riders on guaranteed issue policies. For all other policies, the insurer is allowed a 36 month look back period to determine what conditions should be included as pre-existing. Those conditions can then be excluded from your policy for up to 12 months. Any pre-existing condition can also be added to an elimination rider on your policy, which will exclude the condition indefinitely.

Rhode Island Individual Health Insurance Premiums

When it comes to your initial individual health insurance premium, an insurer can basically charge you whatever they want. Factors that they usually take into consideration include your health status, age, plan type, certain lifestyle habits, and number of people to be covered under the policy. There is no limit to what you can be charged by the insurer for the policy.

Finally, your insurance policy cannot be cancelled by your insurer when it is time for you to renew. Rhode Island individual health insurance policies are guaranteed renewal, so that you have the choice of whether or not to continue with your policy regardless of your health or age status. However, you must also be willing to pay the new premium imposed by your insurer.