No Waiting period Health Insurance - Can I afford it?

Simply, the answer is yes.  Let's talk about why it is affordable though. There are three main reasons in my opinion.  First is underwriting, second is benefits, and third is competition.  We will delve into all of these a bit more.

Underwriting.  What is it and what does it have to do with no waiting period health insurance?  Underwriting is the act of determining the riskiness of an individual or family for a health insurance policy.  It will account for previous ills, accidents, surgeries, medications, and also what the outcome of any diseases or sicknesses one may have had.  did you have chicken pox as a kid? Probably.  are there any lingering effects? Doubtful.  If you have had cancer or a heart attack your outcome will be a much different story until the new healthcare laws go into effect.  As long as you and your family have a clean or fairly clean bill of health you can be eligible for a health insurance policy without a waiting period.

Benefits is the second item.  Some companies will put a waiver on certain conditions to make you eligible for the policy.  The items that may be waived are all over the board.  As an example let's say you have had kidney stones. The insurance company may waive kidney stones for a predetermined number of years.  This is good because you can still have coverage for everything else you just have to wait for coverage to go into effect for a certain condition.  Waivers normally fall off of the policy in 1-2 years.  It just depends on the condition and sometimes the severity.

The third reason you can afford no waiting period health insurance is because of capitalism.  Companies have to be competitive or the consumer will figure it out and go elsewhere.  Health insurance companies only make money when they have customers. To get customers they must try to set themselves apart from their competitors and do it in a fashion that is competitive with other companies.

If you have any questions please comment and we will answer you as soon as possible or feel free to email us or you can always visit our website and contact us there.

Cheers!