Health insurance can be confusing, especially when you are looking at plans in different countries or are switching your level of coverage. One of the more confusing aspects of health insurance plans is how insurers deal with pre-existing conditions. Below, we take a look at what how insurers define these conditions, and the coverage options available to you. Or, click below to get a free quote for plans that meet your coverage needs.
What exactly is a pre-existing condition?
Pre-existing conditions are any injuries or illnesses that affect you before you start a new health insurance plan.
Usually, when you go to purchase a new health insurance plan your insurer will ask for a medical record or for you to note down any ongoing treatments or maladys you may currently have. If the conditions are serious enough they will usually exclude any coverage related to the illness or injury.
For example, if you have diabetes or asthma before you start a new health insurance plan, insurers will usually not cover these conditions or any care related to these conditions. That said, some conditions like a broken leg, cold/flu, chickenpox, other minor injuries/illnesses/infections that you have not had before will not be counted.
The key thing to be aware of here when considering whether a condition you have might be labelled by insurers as a pre-existing condition is whether you have had it in the past and whether it affects your health now or in the future. If yes, then there is a much higher chance it will be labeled as a pre-existing condition and could be excluded.
The different coverage options for pre-existing condition coverage
In our experience, insurers in Singapore will respond to pre-existing conditions in one of six ways:
- Full coverage including your pre-existing conditions - This will also be done with no premium loading (premium charged on top of the quoted price) or exclusions.
- Coverage for your pre-existing conditions through premium loading - This involves paying a higher premium for the insurer to cover your condition.
- Pre-existing conditions medical insurance after a moratorium period - This is a length of time, usually between 1-2 years where you cannot claim any treatments for your pre-existing conditions.
- Pre-existing conditions medical insurance after a moratorium period but with a lower limit - The same as above, but the insurer will impose a lower limit on claims related to the condition once the waiting period has passed.
- Standard medical insurance excluding coverage for your pre-existing conditions - This is where the insurer will allow you to join the plan, but will not cover your pre-existing condition.
- Refusal of coverage entirely - The insurer will refuse to allow you to join the plan.
Finding pre-existing condition coverage
The good news here is that an increasing number of insurers are willing to talk to people with pre-existing conditions and will consider covering them on a case-by-case basis. If you would like to learn more about health insurance coverage, simply click the button below to get a free quote.