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Posts Tagged ‘Know Your Rights When Buying Group Health Insurance’

COBRA, which gets its name from the Consolidated Omnibus Budget Reconciliation Act of 1986, is a federal program that gives many individuals the right to continue coverage under a group plan. This law applies to insured plans and selffunded, employer-sponsored plans. Know Your Rights When Buying Group Health Insurance 9 Renewal Provisions and Changing of Premium Rates HIPAA, the Health Insurance Portability and Accountability Act of 1996, limits insurers’ power to deny or delay claims; reduces your chances of losing existing coverage; makes it easier and less risky to switch health plans; and prohibits insurance discrimination based on health problems.

· If you are leaving your job and you had group coverage, you may be able to stay in your plan an extended time (usually 18 months) through COBRA continuation coverage.

· If you are leaving a fully insured group or individual health plan, you may be able to buy a health policy from the company that provided your prior coverage. This is called a conversion policy. The benefits may not be as generous as those under your former plan.

· Under Arizona law, if an individual or group health policy provides family coverage, newborns, adopted children and
children placed for adoption are automatically covered under the parents’ fully insured health policy for the first 31 days. The insurer may require notification of birth within 31 days to continue coverage beyond the 31-day period.

· If you change jobs or your employer changes health insurance companies you will usually receive credit toward any waiting periods under the new plan