Legal Insurance Plan
legal insurance plan
How can a group health plan be changed and back dated?
Our employer managed to get Anthem Blue Cross to change our insurance plan effective Jan 1…..but we didn’t know until 2 weeks into the year. In fact, the bookkeeper told me AFTER the 1st of the year the company was working to get the plan switched – and BACKDATED — to something way cheaper for them and way higher for us. Is this legal???
Well there is legal and then there is ethical…..
Although I’ve seen it often, I consider it highly unethical of a company, knowing they are changing the insurance coverage, to do so without notifying their employees in advance (unless of course, all of the changes improve the coverage). Like it or not, we must remember that the insurance contract is solely between the insurance company and the employer. As a result, the employer can and often does try to negotiate lower premiums even at the expense of eliminating some of the coverage. Group policies are generally “experience rated” which means the premiums charged for future years is based on the claims experience of the insurance company. If claim costs go higher, the premiums usually follow. I sympathize completely but don’t think there is anything you can do. Good luck.
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What You Should Look Into Individual Health Insurance Plans
Can you predict the future? Well, this is the question which is certainly unanswerable for everyone. No one knows what is going to happen even the next day. The same condition applies on the health related issues. You can’t determine when you will fall ill or so on. That’s why it would be a prudent decision to cover all these uncertainty factors with individual health insurance plans. But, how to find the best health insurance policy when innumerable companies are coming up with their policies into the market everyday? Well, in this concern, given below are some criteria on which you can examine the worthiness of any insurance company.
Non Cancellable Coverage
This is the factor which assures you that the company can’t cancel your policy until you are not willing to do the same or you try to cheat the company by means of presenting fake medical claims. In addition, your insurance policy will be renewed every year until you stop paying the premiums. Usually, most of the companies cancel the policies of people who become sick similar to automobile insurance where the insurers cancel the policies of those who met with accidents regularly. Now, the question emerges, is it legal to cancel out the insurance policy like this? Well, unfortunately in some states, it is! Therefore, you must check it out whether the company provides you a non cancellable policy or not.
Trial Period
Although it sounds something strange to have trial period on insurance policies, but thanks to cut throat competition among the insurers, it’s true. These days, most of the insurance companies provide a considerable period to their customers so that they can examine the policy carefully. In case the customer is not satisfied, these companies refund the premium to him/her.
Terms and Conditions
Before signing any legal document, it is beneficial to consider its terms and conditions twice. The same goes for your insurance policy. Therefore, make sure that which aspects are covered and which are left untouched in it.
Bearing all of these factors into the mind, one can easily make the most out of individual health insurance plans.
About the Author
Looking around into the market, you will discover innumerable Individual Health Insurance Plans. But, it would be a prudent decision to examine all of them according to certain criteria. Do you know what these criteria are? If no, then visit the following website at http://www.find-affordable-health-insurance-for-individuals-plans.com and get known to them.
