August 16, 2010

Insurance Companies close the door to new Children Only plans

Every mother and father want to provide valuable health care for their children, especially if they have a serious pre-existing medical condition.

Health Care Reform was designed to insure that this option would be available, offering no pre-existing exclusion period for people under age 19 — Anyone under 19 with a pre-existing condition cannot be denied coverage for that condition at any time starting with the first plan year beginning on or after Sept. 23, 2010, four years before all carriers must accept everyone, regardless of health status. In addition, insurers are not allowed to impose waiting periods for coverage of pre-existing conditions for people under 19 years old.

Sounds great, however several insurance companies, including Aetna and Cigna have announced that they will not be offering "child(ren)" only policies after September of this year. This must certainly be a shock to the politicians who wrote this bills and raced it through the house and senate. Watch more companies to follow these giants lead and exit the child marketplace, meanwhile every families health insurance premiums will likely increase to spread the risk of this specific market.

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