Indiana Health Insurance
Indiana has fewer health insurance regulations than most states. Still, it's important to familiarize yourself with them, so you're more confident and wise in your purchase.
Describes important Indiana health insurance policy regulations.
Lists rules Indiana health insurance companies must follow.
Health insurance policies are regulated by each state's own health insurance laws. Indiana health insurance companies and policyholders alike must abide by established insurance laws.
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Indiana health insurance policy provisions
Some of the most important Indiana health insurance laws are the ones that influence the health insurance policy specifically.
For one, Indiana health insurance companies can include a pre-existing condition exclusion period within your Indiana health insurance policy. The exclusion period can last up to 12 months. Conditions are considered to be a pre-existing if you obtained medical care for or were diagnosed for them within the 12 months prior to the beginning of the health insurance plan.
During the exclusion period, your Indiana health insurance company is not responsible for covering any medical costs related to the pre-existing condition.
If you are switching Indiana health insurance companies and have had continuous coverage under a small group policy, your old coverage can be used to credit the pre-existing condition period of your new Indiana health insurance plan. Any other policy will not earn credit toward the period.
Secondly, Indiana health insurance policies are required to have a guaranteed renewability provision. This provision states that no matter what the status of your health is, your Indiana health insurance is always renewable.
Finally, Indiana health insurance policies all must contain a provision regarding newborns and adopted children. Indiana health insurance laws require health insurance policies to automatically included newborns and adopted children under a parent's individual health insurance coverage for 31 days if the parents' policy already provides coverage for dependents.
Regulating Indiana health insurance companies
Another area of importance in regards to Indiana health insurance laws is the degree of influence your health insurance company has over your policy and its price.
Indiana health insurance companies can deny your health insurance application on the basis of your health.
Additionally, your health and age can influence the price of your Indiana health insurance. This means premiums can also be raised as you grow older or your health declines.
However, as stated previously, once you purchase a policy Indiana health insurance companies cannot deny your request to renew your existing health insurance policy.
Since Indiana health insurance companies can freely deny you coverage, but can't deny your request to renew your existing policy, it makes sense to purchase California health insurance while you are young and healthy. Although your price may increase if you fall ill, you will not be in the unfortunate predicament of being without health insurance.
More IN health insurance help
If you want more help getting the a good health insurance policy, read our guide to health insurance.
Also see the guide to Indiana small business health insurance.
To find out more about IN health insurance laws and regulations, visit the official website of the Indiana Department of Insurance.