May 21, 2008

Learn how to apply for Health Insurance

It's time. You have weeded through various Health Insurance proposals and you have finally selected a plan. Now you must complete an insurance company application.

The first step to apply for coverage is to decide whether or not you want to submit a paper or electronic application. There are pro's and con's to each. If you are healthy, I would recommend the e-version. These applications are usually computer scored and if you have no health history, these applications can be approved within hours to a day or two. If you have a more lengthy health history, I would recommend the old fashion paper application. This type of application allows you to better explain your health condition to an underwriter and attach a letter of explanation (if needed).

When it's time to apply for coverage, paper or electronically, plan about 20 minutes to answer all the questions. Have your doctors name and address available, along with the names and dosages of any prescriptions that you are taking. This is very important to avoid being "timed out" and losing your on-line responses.

Take your time and read each question before answering. Some questions will ask you to go back in time, ie: "In the last 5 years have you ..."? If you glance at the question, you may not answer it correctly.

A brokers "tip". If you respond to a question "yes", simply check the box. Do not go back into the sentence and start circling all of the conditions that the question applies to. You will be asked to explain your "yes" application on the following pages.

When it comes time to respond to those "yes" answers, don't guess. List the date of treatment, the doctors name and address, along with your prognosis or current health condition. If you have fully recovered - state that. Without a response such as "routine check up, normal findings, good health" or "broken leg in 2003. Treated and released from doctors care 3 months later. Fully recovered, no complications". A good health insurance underwriter will either accept your response at face value, or he/she will request your medical records. If this happens, your application will be delayed until your medical records are copied, submitted and reviewed.

Be sure to review your application before submitting it. Decide whether or not a cover letter is needed and be sure to submit your first months premium. Most insurance companies will not review your application until a payment is made. This is their way to discourage people from applying at multiple companies.

In summary, prepare your health insurance paperwork as if you were applying for a home mortgage. Dot your i's and cross your t's. Be detailed, support your answers and never lie. You may sneak your application through, however the insurance company can re-evaluate your application (which is usually the case when you have an immediate major surgery or hospitalization). If you omitted any information, your insurance policy can be cancelled. There is one more item you should know. Medical records are shared with the MIB (Medical Information Bureau). Insurance companies retrieve your major health history when you apply for coverage and compare their findings against your application responses. This service also lists the dates and companies for which you have previously applied for coverage.

To begin the process, you must first find an affordable health insurance plan. For instant insurance quotes, comparisons and applications, visit Quotebroker. Within minutes you will be able to locate the lowest priced health insurance plans in your state. If you need help completing your application, ask to speak to an insurance specialist.