If you are about to apply for health insurance, you might be worried about what rate you will be charged and if you’ll be able to get a good deal. But you need to stop worrying and be proactive about it. Here are a few things that you can do to get a better deal.
To make a strong case in your favor, begin by checking your Medical Information Bureau records. If you have applied for life or health insurance before, the bureau will already have your record. Make sure that there are no mistakes in your file, as insurers access details about your health through the MIB.
You should also review your doctor’s records for errors. A small mistake may lead to a rejection or a higher rate. So, go through the records with someone familiar with medical terminology. If you do find an error, the doctor will have to write to the insurer saying that the information was incorrect, which could lower your insurance costs.
Often, doctors make a diagnosis and then the condition does not get another mention in your records. This can confuse the underwriter at the insurance company about whether you have recovered from the illness or still suffer from it. So get the doctor to update your condition on record. In case you are no longer under medication, it must be clearly stated. Resolution of health issues is a key factor in deciding your health insurance rates.
Another thing that you can do is to tell the insurer about how you are dealing with a medical condition so that you come across as a responsible person who is actively taking care of his or her health. Instead of simply mentioning your illness, elaborate on the medications you take and supply data that shows you have it under control. Include all information that can make the underwriter at the insurance firm realize that your profile is not too risky for them.
Insurers have different rates depending on your physical attributes. If you are overweight then you are likely to be charged a higher rate because of the many medical conditions that are related to it. So you should put in some effort to lose weight before applying.
Even if you don’t get a good rate in the beginning, whenever your medical condition improves you should inform your insurer. If you have lost weight or quit smoking, you can undergo another medical exam and try to negotiate a better rate with them.