Why do health insurance companies need to know about my pre-existing conditions?
Disclosing your pre-existing conditions is most relevant for Medically Underwritten health care plans.
With Medically Underwritten plans, by getting the opportunity to review your health history, the insurance company can potentially offer you a more comprehensive plan at a lower relative cost (i.e., better value).
The caveat to Medically Underwritten plans is that while they will offer better value to those who qualify medically, they will exclude (i.e., not cover) health conditions that you are already being treated for or taking medication for. These health conditions are referred to as 'pre-existing conditions'.
Pre-existing conditions are disclosed on a simple questionnaire. Medical tests such as blood or urine samples are not required when applying for health care plans.
For those who do not qualify medically for a Medically Underwritten plan, there are Guaranteed Acceptance plans available that will cover pre-existing conditions without need for a medical questionnaire.
With Medically Underwritten plans, by getting the opportunity to review your health history, the insurance company can potentially offer you a more comprehensive plan at a lower relative cost (i.e., better value).
The caveat to Medically Underwritten plans is that while they will offer better value to those who qualify medically, they will exclude (i.e., not cover) health conditions that you are already being treated for or taking medication for. These health conditions are referred to as 'pre-existing conditions'.
Pre-existing conditions are disclosed on a simple questionnaire. Medical tests such as blood or urine samples are not required when applying for health care plans.
For those who do not qualify medically for a Medically Underwritten plan, there are Guaranteed Acceptance plans available that will cover pre-existing conditions without need for a medical questionnaire.