Medical Insurance FAQs

• What is Medical Insurance?
• Why should you get medical insurance?
• Can you get medical insurance for your family that is separate from your own policy?
• What happens to your medical insurance if you lose your job?
• What is considered a preexisting condition?
• How do you determine if you have a 'preexisting condition'?
• What is International Medical Insurance?

Answers:

• Q: What is Medical Insurance?
  A: Medical insurance provides essential coverage of medical expenses and associated costs like hospitalization, surgeries, ambulance, and others in return for a decided premium. It helps you meet unexpected medical expenses. You can avail medical insurance from various providers for you and your family members. Premiums are not the same everywhere. Differences arise due to federal and state regulations besides certain defining criteria of different companies.

• Q: Why should you get medical insurance?
  A: Medical insurance helps you meet all medical costs comfortably. Medical expenses like surgeries, hospitalizations, and even normal diagnostic treatments cost a huge amount. Sudden injuries or accidents can leave you a financial broke if you are without any medical insurance. Instead, paying regular premiums on your medical insurance can help you lead a peaceful life, free of any worries of accidents and illnesses.

• Q: Can you get medical insurance for your family that is separate from your own policy?
  A: Yes, you can purchase separate insurance for your family members, independent of your own. Rather, it is best to have separate medical insurance for all members of a family. Different family members could need different levels of medical coverage. Purchasing a single generalized coverage may not offer necessary cost and coverage in times of need.

• Q: What happens to your medical insurance if you lose your job?
  A: Normally, employers offer subsidized group health care plans for their employees. If you leave or lose your job with such coverage, employers normally offer medical coverage under COBRA. This allows you to be on same group health plan for a maximum period of eighteen months. However, you have to bear all costs of subscribing to this plan.

• Q: What is considered a preexisting condition?
  A: A preexisting condition is any medical condition already there before you start with your medical insurance. You may be already undergoing treatment for this condition right now. It could be any form of cancer, heart ailments, and asthmatic complaints in people over 65, viral meningitis, AIDS, Type A Diabetes, liver cirrhosis. However, specific rules applying to preexisting conditions differ from state to state.

• Q: How do you determine if you have a 'preexisting condition'?
  A: Normally, medical insurance providers consider a medical condition as preexisting if you are under medical care for it presently. Some providers extend the term to include being under medical treatment for specific medical conditions in the past one year. However, the language is not very clear. If you have had a medical ailment but have not had treatment for the same, it does not come under a preexisting condition.

• Q: What is International Medical Insurance?
  A: Your regular medical insurance does not cover any risks to your health if you are traveling abroad. International medical insurance helps you purchase medical coverage for your foreign trips and vacations abroad. Some also offer coverage for long stays abroad. You can purchase medical coverage for your continuing medical treatments, sudden outbreaks of diseases, mishaps, and accidents that could happen on your trip.