Montana Health Insurance
Montana has moderate insurance regulations that protect both you and the insurance company. It's important to familiarize yourself with them, so you can exercise your rights if the need ever arises.
Describes Montana health insurance policy regulations.
Lists rules Montana health insurance companies must follow.
Health insurance policies are regulated by each state's own health insurance laws. Montana health insurance companies and policyholders alike must abide by established insurance laws.
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Montana health insurance policy provisions
Some of the most important Montana health insurance laws are the ones that influence the health insurance policy specifically. There are certain policy provisions that must be included in all Montana health insurance policies and there are other policy provision that are heavily controlled by Montana health insurance laws.
First, every Montana health insurance policy must have a gauranteed renewability provision, which secures your right to renew your health insurance policy every year. This hinges, of course, on you paying your premiums on time and providing accurate information on your application.
Also, any Montana health insurance policy that covers the policyholder's dependents, must cover newborns and newly adopted children for a minimum of 31 days.
A provision that Montana health insurance laws only limits is the pre-existing condition exclusion period provision.
Montana health insurance companies can impose a pre-existing condition exclusion period lasting up to 12 months.
Medical conditions are determined to be pre-existing by the health insurance company and typically include illnesses you have obtained medical care for or were diagnosed for 3 years prior to the beginning of the plan.
During the exclusion period, the health insurance company is not responsible for covering any medical costs related to the pre-existing condition for the duration of no more than 12 months.
However, Montana health insurance policies can also include elimination riders, which permanently exclude coverage of a pre-existing condition and thus, avoiding the 12 months limit.
Regulating Montana health insurance companies
Montana health insurance companies must follow certain rules set by the Montana health insurance laws. Any policyholder should know the following basic laws governing Montana health insurance companies.
For one, if a Montana health insurance company agrees to sell you a policy, they must offer you a state standardized plan in addition to any other plan they may offer. The coverage and cost of these plans are unnegotiable, but since they are controlled by the state are usually affordable.
Also, Montana health insurance companies can not cancel your health coverage or refuse you renewal on the grounds of illness. However, it is permissible to initially deny you health coverage on the basis of your health.
Temporary Montana health insurance
There are times when you may find yourself temporarily without health insurance. During these months of no health coverage, you should buy temporary Montana health insurance or a conversion policy.
If you have recently left a fully insured group policy and have exhausted your COBRA continuation coverage, you are eligible for a conversion policy. The policy premiums for these plans will likely be much more than you were originally paying and the coverage may not be the same.
Two advantages of conversion policies, as opposed to other temporary Montana health insurance, are: you will not be subjected to a new pre-existing exclusion period and your policy cannot be canceled because you fall ill.
If you are ineligible for a conversion policy, there are Montana health insurance companies that offer temporary policies.
More MT 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 Montana small business health insurance.
To find out more about MT health insurance laws and regulations, visit the official website of the Montana State Auditor's Office.