Insured at What Price

HIPPA requires that you are given at least two coverage options and prevents discrimination against you for pre-existing conditions that were covered under your group plan. It does not, however, limit premiums (though state laws may). Coverage under HIPPA may be expensive, but it may also be the only coverage you can get.

For more information on COBRA and HIPPA, contact the Department of Labor’s Employee Benefits Security Administration or request the booklet “Protecting Your Health Insurance Coverage” from the Centers for Medicaid and Medicare Services (800-633-4227).

Compare rates. Just because you were refused insurance or quoted an expensive premium by one insurance company doesn’t mean you’ll have the same results elsewhere. Shop around before you panic.

Don’t lie on your application. They’ll probably find out, thanks to the Medical Insurance Board (MIB), which databases our medical information. Everything you say on an insurance application can be investigated. If you’re found out after you’ve already been insured, you can be forced to repay all medical costs from the day you were insured.

In fact, be meticulous. If you ever face a serious injury or illness, the insurance company may investigate you. If they find so much as an unreported doctor’s visit or dates that don’t match, they may be able to revoke your insurance and leave you holding the bill. Even something without a paper trail—like headaches that turn into a larger problem after you’re insured—can be retroactively labeled a “pre-existing condition.”

Consider an HSA. A health savings account allows you to set aside pre-tax dollars for medical expenses that aren’t covered by your insurance. It’s similar to a flexible-spending plan except that funds are carried over from year to year.

Pick up the phone. This process can be overwhelming. It helps to actually speak to a human being at an insurance company you’re considering, or at a broker like Ehealthinsurance.com. More times than not, the representative is a decent person who knows he works for a blood-sucking organization and is willing to help you find the best deal, even if it’s not with his company. Your state insurance board (see above) is also a good resource.