Hawaii Health Insurance
Hawaii has very few health insurance regulations. Still, it's important to familiarize yourself with them, so you're more confident and wise in your health insurance purchase.
Describes important Hawaii health insurance policy regulations
Lists rules Hawaii health insurance companies must follow
Health insurance policies are regulated by each state's own health insurance laws. Hawaii health insurance companies and policyholders alike must abide by established insurance laws.
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Hawaii health insurance policy provisions
Some of the most important Hawaii health insurance laws are the ones that influence the health insurance policy itself. Hawaii does not impose strict policy requirements, but there are a few you should be aware of.
For one, Hawaii health insurance policies must include a guaranteed renewability provision. This provision states that as long as premiums have been met, Hawaii health insurance companies cannot deny your request to renew your Hawaii health insurance policy.
Secondly, Hawaii health insurance laws state that newborns and adopted children are covered by their parent's insurance policies if the policies already provide coverage for dependents for a minimum of 31 days. After this period of time parents must make policy adjustments.
Finally, Hawaii health insurance policies can include a pre-existing condition exclusion period. An exclusion period is a length of time for which your health insurance company does not compensate you for medical costs relating to a specific medical condition you had prior to the beginning of your Hawaii health insurance policy.
Although exclusion periods are employed by some Hawaii health insurance companies, there are some that do not.
Regulating Hawaii health insurance companies
Health insurance laws in some states strictly regulate the cost and availability of health insurance policies. Hawaii health insurance laws are rather relaxed in this area, which means you have to be more aware of what liberties your health insurance company are allowed.
It is illegal for an insurance company to deny you continued coverage on the basis on health. This does not mean, however, that insurance companies must offer you a policy if you apply for one, only that once you buy a health insurance policy, your request to renew that same policy cannot be denied. Any insurance company is free to initially refuse you coverage.
Different factors effect the cost of Hawaii health insurance. Hawaii health insurance companies can consider your health status when deciding whether they want to offer you a health insurance policy and what it will cost.
Since Hawaii health insurance companies have the freedom to deny risky applicants and can decide their own prices, it is especially important to buy health insurance while you are younger and more healthy, thereby securing a low-costing but comprehensive health insurance policy. You will never be younger than you are now, so now is the time to buy.
More HI health insurance help
If you want more help getting a good health insurance policy, read our guide to health insurance.
Also see our guide to Hawaii small business health insurance.
To find out more about HI health insurance laws and regulations, visit the official website of the Hawaii Department of Commerce and Consumer Affairs, Insurance Division.