Does Your Health Insurance Start Right Away?

When health insurance starts? Does it start right away or do you need to wait for a few days or weeks?

When Health Insurance Starts? 

There’s a waiting period between the time you enroll in health insurance coverage and the time your plan will start to cover you. However, the waiting period depends on the kind of plan you purchase.

The coverage delay can range from a few days, weeks to even a year.

For that reason, many individuals would choose to obtain a short-term insurance plan to have some form of insurance protection for emergencies.

Read: What Health Insurance Covers Dexcom

What’s the Reason Health Insurance Companies Implement Waiting Periods? 

The waiting periods are a way for health insurance companies to encourage consumers to purchase health protection before they need it. You can’t be charged a higher premium because your health insurer anticipates that you need a procedure soon.

If every person who signed up for health coverage would need serious treatment, then the premiums would be too expensive for ordinary people to pay.

Since consumers need to wait for a few weeks or months or even a year before their health insurance starts to provide coverage, then they are likely to buy coverage before they actually need it.

Read: What Health Insurance Pays for Gym Membership?

How Long is the Waiting Period? 

It depends on the health insurer and the type of coverage you obtained.

If you have pre-existing health conditions, you may need to wait for 12 months before your policy starts.

If you’re pregnant, the obstetrics coverage may start to cover 12 months after you will be covered.

For psychiatric care, you may need to wait for two months.

Read: What Health Insurance Do You Need in Spain?

Is It Possible to Get Health Insurance without Waiting Period? 

Most health insurance companies have waiting periods. But there are ways to avoid them.

For instance, you can avoid the waiting period if you switch to a new health insurance plan. However, the new plan must offer the same benefits as your old one. Your new health insurer will need to honor the waiting period to get hospital coverage.

But if your new plan is an upgrade or it has more benefits, there will be a waiting period for the new benefits to start.

Be careful though. If you have accumulated benefits from your old plan, the benefits might not be transferred over to your new plan.

You can also avoid waiting periods if you keep an eye out for insurers that waive waiting periods for their new customers. However, this type of promotion may be limited.

How to Find a Health Insurance with the Shortest Waiting Period? 

To find health insurance with the shortest waiting period, you need to compare the options available for you. The good thing is that there are comparison tools out there that help you find providers that offer the best benefits and the shortest waiting period.

Do You Really Need Health Insurance? 

Yes. Having health insurance can make a difference to your financial condition. If you are healthy, your routine care will be covered at no charge.

On the other hand, if you require regular visits, the costs can be reduced or you don’t have to pay for out-of-pocket costs. Furthermore, there are more options for you when you go to the hospital in case of non-emergency reasons. Keep in mind that some hospitals may refuse to treat you if it’s not an emergency.

Indeed, out-of-pocket expenses can still get expensive even if you have a health insurance policy. But your plan can still offer financial protection. Medical debt is a common reason many are filing for bankruptcy.

In this study, researchers found that two-thirds of personal bankruptcies are the result of medical expenses.

People with health insurance coverage can prevent it from happening because their health insurance policies include preventive services.

These services are beneficial because they can identify medical conditions before they become chronic.

And even if you don’t want to obtain health coverage, your country or state might require you to have it.

How to Pick the Right Health Insurance? 

Finding out when health insurance starts may be one of the things to consider when choosing health insurance. But it’s not the only factor you need to evaluate.

Current Health. If you have chronic health, you should consider getting a comprehensive plan to lower copayments and out-of-pocket expenses.

Healthcare usage. Make sure that the plan you pick will cover the specific healthcare services that you are most likely to use.

Healthcare needs. If you have an ongoing physical condition, you need more coverage. Furthermore, if there are specific doctors that you want to visit, consider getting a plan that they accept.

Budget. Of course, it’ll be pointless to obtain comprehensive insurance if you can’t afford its monthly premiums. You need to choose a plan that suits your budget.

Conclusion 

When health insurance starts? It depends on your health insurance policy. The waiting period can be from a few weeks, months, or even a year. Talk to your health insurer about it.

Do you know what health insurance covers? Find out here.