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Q. How long does it take to get individual health coverage?
A. Individual health insurance is medically underwritten and is not guaranteed issue. The process typically takes four to six weeks. However, it may take as few as one to two weeks if you are extremely healthy, or significantly longer if you experience health problems for which the insurance carrier must review medical records.
Q. What is a pre-existing condition?
A. A pre-existing condition is a condition for which you:
Q. Do I have to pay my deductible before “office visits” are covered by co-pays?
A. There are a variety of plans available and there are some that you do need to meet your deductible before your office visits are covered. These plans are generally for those who rarely see the doctor and just want to make sure they have coverage for the big items. These plans are usually less expensive. To find plans that will cover office visits without meeting your deductible first you need to choose “first dollar” coverage plans.
Q. Are co-payments credited against my annual deductible requirements?
A. Generally, no. However, insurance policies with “office visit co-pays” handle office visits and hospital stays differently, wherein hospital stays are covered under the “major medical” portion of the policy and tend to be subject to deductibles and co-pays.
Q. Can I change my deductible after my policy is issued?
A. Most companies will allow you to change to a higher deductible with ease. Lowering a deductible usually requires you to complete a new application where you must indicate your current health condition.
Q. Can I be singled out for cancellation of a policy because of a health problem?
A. No. However, you can use up your benefits after having covered expenses in excess of your lifetime maximum.
Q. Does it cost me more to deal with an agent than it would if I dealt directly with an insurance company?
A. No. In working with an agent, you are working with the insurance company. Agents are appointed (approved) by insurance companies and are required to represent them fairly and accurately. Clients do not pay extra fees to an agent for their services. However, with King Insurance Specialists, the client benefits from an agent’s expertise and attention. Moreover, agents who represent several companies can offer an even analysis of each insurance company’s products. In this way, King Insurance Specialists provides unbiased options without the sales pressure you may experience when dealing with just one carrier.
Q. What is A M Best?
A. A M Best is an independent insurance rating agency that determines the financial stability of a company based on several factors. However, A M Best does not consider how a company pays it claims. While it is important to work with an insurance company that has a high A M Best rating, it is not a guarantee of congruence. For example, a company may have a high A M Best rating but at the same time design their policies to pull large sums of money out-of-pocket for hospitalization.