Posted by: MedHealth on Jun 28, 2011
Facing the hunt for a new insurance provider with a pre-existing condition listed on your medical history can be frustrating, embarrassing, and time consuming. For some reason, the insurance industry has turned pre-existing conditions into shameful notes on your medical charts, occurrences that make you “ineligible” for coverage right when you most need to be covered. Even worse, insurance companies also retain the right to deny coverage even if you were not diagnosed with an illness or disease, if there was simply an unresolved doctor’s visit or a rogue symptom during your last checkup. Well, not anymore.
President Obama’s healthcare reform will put an end to the ability of insurance providers to deny you coverage based upon your medical history. Pre-existing conditions will no longer be a reason for a company to send you a rejection letter; however, the companies are getting millions of additional customers to pay for the coverage of individuals with established health issues.
Obama’s healthcare plan is expected to bring in a significant amount of new customers to insurance providers because it mandates that individuals are covered by some sort of medical insurance, either through individual healthcare plans or employer-provided premiums. By allowing small businesses and individuals access to more affordable policies, such as larger corporations are now capable of offering their staff, President Obama will decrease the cost of coverage while increasing the amount of individuals covered. With this increase in revenue, insurance companies will be able to cover the needs of customers with pre-existing conditions.
Though this is a great step, it will not be put into action until 2014. The process of setting up the various insurance pools from which individuals and small businesses can choose more affordable coverage is one that will take quite some time, so the full healthcare reform bill will not go into effect until this is accomplished. Until then, President Obama has set up a high-risk insurance policy pool that will be available to individuals with pre-existing conditions that cannot get traditional coverage. This pool will be available until the pre-existing clause of the reform bill is in effect, at which point it will be discontinued.
President Obama’s healthcare plan has shed a bit of light on the dark process of finding an insurance plan with a pre-existing condition. Though it is not impossible to get coverage on today’s market, many insurers are almost guaranteed to pass up less than perfect candidates in an effort to decrease the amount of money they have to pay out. Once Obama’s reform bill is in full effect, however, individuals with pre-existing conditions will find it much easier to get the coverage they need.