Health Insurance for Individuals with Pre-Existing Conditions

There are many different health insurance plans and policies that are provided by insurance companies to their customers. These policies are basically used by insurance companies and individuals, in order to safeguard their health and financial interests.

What is a Health Insurance?
Experts in this field, will offer you many different definitions and meanings of health insurance. This type of insurance basically works in accordance with the following mechanism:

• An individual applies to the insurance company for a health insurance policy.
• The policy is sold to the applicant, which makes him the policy holder.
• The policy holder, is expected to make monthly or annual installments to the insurance company, which is termed as a premium or premiums.
• In case of any mishap, accident or hospitalization, the insurance company compensates the policy holder with partial or full loss that has been incurred.

A health insurance for individuals with pre-existing medical conditions, is of a different nature as the company has to take into account the nature and magnitude of the existing condition.

Health Insurance for Individuals with Pre-Existing Conditions
The term, pre-existing conditions is used very commonly in the agreements of insurance companies. A pre-existing condition can be simply defined as "...any condition or fact that pre-exists, before the insurance policy or program comes into effect...". In many insurance agreements, there is a prominent clause, that specifically states the need to disclose the pre-existing conditions. There have been cases, where insurance companies have denied compensation to policy holders as a result of undisclosed pre-existing conditions. Before one actually becomes a policy holder, a strict medical test is to be taken by the applicant. This assures the insurance providers of the health condition of the applicant. The applicant thus becomes a policy holder on the basis of this health check up. A normal health insurance policy does not cover the expenditure arising as a result of any of the pre-existing conditions.

In contrast to the normal policies, this health insurance is provided to people with some or the other disorder or disease, that is prolonged in nature. People suffering from diabetes, cancer, hypertension, etc. can easily avail such policies. The following are some of the features of such policies:

• The expenses that occur as a result of pre-existing ailments are partially or fully covered by the policy. For example, the monthly check ups and medication bills of the policy holder are taken care of, by the insurance company. If the person has to be operated for amputation of a diabetic toe, then charges of the surgery are also covered by the company.
• The cost of such a policy and the rate of premium, is bound to be high. The rate of premium, basically depends upon the terms of policy and its coverage. For example, if you want the compensation for medications and regular check ups, that you need to be prepared for a high rate of premium. If you want a coverage for only the unexpected events, then the amount of premium that is to be paid is comparatively low.
• Since the pre-existing conditions are covered, expensive surgery or treatments such as an angioplasty or chemotherapy and be conducted without the tension or hindrance of financial burden.
• There are several different variants of this insurance, such as a health insurance for self employed, who suffer from pre-existing conditions or health insurance for unemployed or retired or a health insurance for students who suffer from pre-existing conditions.

Individuals with pre-existing medical conditions can avail of such a health insurance as it safeguards the policy holder's financial interest as well as health related expenditures.