Health Insurance It s Important To Know What s Not Insured
Below is a MRR and PLR article in category Finance -> subcategory Insurance.
Understanding Health Insurance: What Isn’t Covered
Overview:
In the UK, about 7 million people have health insurance, mostly through employers. Unfortunately, many people don't fully understand what their policies cover, or more importantly, what they don’t. It's crucial to remember that health insurance won't cover all medical expenses.
Purpose of Health Insurance:
Health insurance is primarily designed to handle curable, short-term health issues, enabling policyholders to bypass NHS queues for timely consultations, diagnoses, and treatments. However, it's essential to recognize the limitations and exclusions of your coverage.
Policy Disclaimer:
This article provides a general overview and is not specific to any policy. Always review your own policy documents to understand your coverage details.
Key Exclusions:
1. Chronic Conditions:
- Insurance generally covers acute (curable) conditions, but not chronic (long-term) ones. Conditions like diabetes and asthma are considered chronic and thus not covered. Sometimes, a condition might start as acute and later be reclassified as chronic if it becomes incurable, affecting coverage.
2. Long-Term Treatment:
- Insurers don’t typically cover long-term treatments. Check your policy’s definition of "long-term"; some insurers might only cover treatment for a certain duration.
3. Preventative Treatments:
- Coverage is intended for treating existing conditions, not for preventative measures. This distinction can be blurry, as seen with drugs like Herceptin for breast cancer. Coverage for such drugs varies among insurers.
4. Unapproved Drugs:
- Insurance aims to provide access to treatments quicker than the NHS, but only if those treatments are approved by the Institute for Health and Clinical Excellence in England and Wales.
5. Pre-existing Conditions:
- Any condition existing before coverage isn’t typically covered. Insurers often require detailed health history and might involve a moratorium period, stating that if you’re symptom-free for two years, future treatments might be covered.
6. Policy Changes:
- Like car insurance, health insurance is an annual contract. During renewal, insurers can adjust premiums and coverage conditions, affecting ongoing treatments. Advances in medicine can also shift what’s considered chronic or acute, potentially increasing premiums.
Conclusion:
Health insurance policies are not straightforward. Always contact your insurer promptly to confirm that your treatment is covered. Be diligent in reviewing policy renewals for any changes in terms or exclusions.
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