What is the Statement of Health Status in Insurance?

The declaration of health status is only a questionnaire that is usually included in the insurance application and must be signed by the insured and by the policyholder in case the latter is a different person.

This statement serves, like the insurance application, as a basis for the future contract, since it contains elements of judgment that allow the insurer to evaluate the risk.

It is important to keep in mind that each insurer establishes, according to its own rules, if this health declaration is sufficient, or if in any case it is necessary to carry out a medical examination of the insured future.

That is to say, it will be the insurance entity itself that establishes at what age and from which capital to ensure the medical recognition of the insured future is necessary, as well as the depth of said explorations and analysis.

In any case, the medical examination is carried out by a doctor appointed by the insurer, who will issue a detailed report on the health status of the insurance candidate.

The declaration of health and, where appropriate, the result of the medical examination of the candidate, will be examined by the insurance company to decide whether the risk is normal or aggravated according to its own selection criteria.

If the risk is classified as aggravated, that is, not included in the forecasts made by the insurer, it can set the necessary conditions for the risk to be accepted. What are the most frequent conditions for the acceptance of aggravated risks? We review them!

Most frequent conditions for the acceptance of aggravated risks

Most frequent conditions for the acceptance of aggravated risks

  • Application of an overpriming.
  • Reduction in the duration of the insurance requested.
  • Reduction of the insured capital during the first years.
  • Establishment of a grace period.

Notes:

Super premium is an extra amount of money that the insured has to pay to the Insurance Company because there has been an increase in the risk that it covered.

Term deficiency is a period of time from the date of effect of the insurance, during which the insured can not benefit from all or part of the insurance guarantees contracted.

To consider

It is important not to lie when filling out the health questionnaire, because who does it can be accused of attempted fraud. In the event that there are diseases or pathologies prior to the signing of the policy, these are defined as pre-existing, and normally are not covered by health insurance. In the world of insurance are known as pre-existing, the pathologies of the client existing prior to the date of contracting the product.

Information contained in the health declaration

Information contained in the health declaration

Within this document, the company requests the following information:

  • Personal information: Name and surnames, marital status, date of birth and your ID.
  • Name of the company through which you have your current health insurance.
  • Affiliation or not to Social Security.
  • The employment performed by the applicant at the time of contract of the policy.
  • If the applicant owns some kind of disability pension.
  • If the applicant was insured with the company in question at a previous time.
  • The data of the beneficiaries of the policy (children, husband / wife…)
  • If the applicant has undergone some type of surgical intervention: the type of operation and the approximate date.
  • If any of the beneficiaries has suffered an illness or suffered an accident.

If you have been interested in this Post and want to keep getting involved in insurance, you may also be interested in our entry on What is considered to leave irrefutable evidence in insurance? How to change insurance company? or frequent questions about insurance.

 

 

Medicare Low Aid Income

 

Eligible

Eligible

Medicare provides medical insurance by the federal government to qualifying persons. Individuals with end-stage renal failure or amiotrophic lateral sclerosis qualify for Medicare at any age. Those who qualify Social Security disability benefits for Medicare after 24 months. If you worked and paid 10 years or 40 credits from Federal Insurance Contributions Act for Social Security and Medicare, you qualify for Medicare at age 65.

cover

cover

Medicare has four sections that provide different cover for medical needs. Part A is hospitalization insurance, Part B covers outpatient medical care, such as doctor visits and diagnostic tests. Part C is Medicare Advantage that works like a preferred provider or health care organization to give you better value. Part C can cover both Part A and Part B. Part D is prescription drug insurance to help pay for medication.

state assistance

States provide Medicare assistance to qualified low-income residents. Proof of low income is required. Programs differ, and some countries assist with monthly premium payments while others help with co-payments or coinsurance amounts. State the parameters and requirements program changes from time to time, so it is essential to inquire at the nearest Social Security or health condition and human services office for current information.

special program

special program

Low Income Subsidy, operated by Medicare and Medicaid Services centers, lowers the cost of low-income individuals who qualify for it. This program helps with the payment of monthly premiums, annual excesses and prescription co-payments and can assist with the coverage gap. SSI recipients with Medicare automatically qualify, just like some other classes of individuals such as Medicare Savings Plan recipients. Some applicants must work through the Social Security Administration to access this program. Contact your local Social Security office and ask for low subsidy income.

The extra help and the Medicare Savings programs work at the state level to provide assistance for Medicare payments. Medicare Saving Programs help qualifying individuals pay for Medicare Part B medical care premiums. The Medicare Savings Program can pay if you pay Medicare Part A premiums and also pay Part A and B co-payments and co-payments. Pharmaceutical aid programs run by states or pharmaceutical companies also low-income Medicare recipients help with drug costs.