Why You Must Disclose Ailments Before Buying Medical & Health Insurance

Why You Must Disclose Ailments Before Buying Medical & Health Insurance

Why You Must Disclose Ailments Before Buying Medical & Health InsuranceA common mistake people make when purchasing Medical & health insurance is not disclosing their pre-existing illnesses to the insurance company. This is usually because they are concerned their pre-existing conditions will lead to being denied coverage or increased premium fees. However, you must tell your insurance provider all your medical history to ensure proper coverage now and in the future. When you are open about your pre-existing illnesses and surgeries, medical & health insurance carriers can provide the correct type of coverage to meet your current and future needs.


What Is a Pre-existing Condition?

Pre-existing conditions are illnesses and medical conditions the patient/policyholder already had before their new insurance policy began. Most insurance companies offer coverage for pre-existing conditions. However, there may be a waiting period before your policy covers your pre-existing ailments. Depending on your policy, the waiting period could range from six months to several years. During this time, if any medical complications or emergencies arise due to pre-existing conditions, they will not be covered by the policy. Once this waiting period is over, your policy may allow complete compensation for healthcare costs incurred for such medical conditions.


What Is Complete Disclosure?

Insurance companies require complete disclosure of medical conditions when pricing potential policies. Complete history includes medical conditions, medications, hospital stays, surgeries and outpatient procedures, lab results, and other relevant medical records. Full disclosure safeguards individuals from denial or rejection of claims. 

Why You Must Disclose Ailments Before Buying Medical & Health Insurance

Will Pre-existing Conditions Raise My Policy Premiums?

Potentially. When a policy buyer has pre-existing conditions or chronic diseases, they may be required to pay higher premiums for their insurance policy. However, if you don’t tell your insurance provider of these conditions, your claims could be rejected in the future. This would leave you holding the bag for potentially costly medical bills. The costs associated with higher premium prices are only a fraction of the cost of potential mounting medical bills resulting from denied medical claims. Since coverage is available after the waiting period, it is more cost-effective in the long run to be upfront about your complete medical history.


Petra Medical & Health Insurance

Though you may be worried about your previous medical ailments, remaining upfront with your insurance provider from the beginning will prevent any claims resulting from pre-existing complications from being rejected or denied. 

At Petra Insurance, we take pride in helping our clients find the best coverage to protect their loved ones and legacy. Regardless of your medical history, age, or pre-existing medical conditions, our team of advisors is ready to help. We are here to help you review your existing coverage or provide a quote for new coverage to ensure you have the proper medical insurance to suit your specific needs. 

Why You Must Disclose Ailments Before Buying Medical & Health Insurance



Medical Insurance Advisor

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