No Waiting Period Health Insurance - Pieces of the Puzzle Part 1

What are the individual pieces of a no waiting period health insurance policy? We will break down the pieces that make up a policy over this post and the next.  This particular post will delve into the intricacies of the major medical portion of the policy. The next will discuss all the extras that go into a policy and even some options you can add if you please and depending on your budget.

The first benefit you will receive from having a no waiting period health insurance policy is repriced services from doctors and medical facilities.  Depending on the arrangement your health insurance company has the doctor or the medical facility you could see up to a 75% discount for the services you receive.  This will especially come in handy when you haven't reached your deductible.  Once you have reached your deductible there may be some additional out of pocket expenses depending on the coinsurance option you decide to choose.  Make sure to discuss this with your health insurance broker. You will want to choose a policy that both fits your budget and your needs. A policy won't do any good if you can't keep it.

Finally once your deductible is reached your major medical coverages will be paid for by the health insurance company 100%.  There are both inpatient and outpatient services that will be covered.  Some of the inpatient services covered include X-Rays and labs, inpatient facility services like room and board, ICU services, emergency room services, operating room expenses, recovery room expenses, prescriptions while you are confined to a hospital, physician visits and professional fees for doctors, nurses, and surgeons.  Your policy will usually also cover other miscellaneous expenses you might incur while staying at a hospital.

The other major medical portion of a no waiting period health insurance policy is outpatient coverages.  These include things like outpatient surgery.  X-Rays and labs that may be associated with surgeries or are just routine due to an accident or illness.  Surgeon and facility fees will be covered as well as hemodialysis, radiation, chemotherapy, transplant drugs, CAT scans, and even MRI's.  Emergency room fees for both illness or injury will be covered. Some plans have copay for the emergency room while others may just pay after your deductible.  There are also lots of other outpatient services that will be paid for.

As always, make sure to discuss the intricacies of each policy with your insurance broker.  They can educate you about the nuances of the policy you choose.  If you ever have any questions please comment below, feel free to email us, or visit our website.  Thanks for reading.

Cheers!