OWn COURSE - USAA

WhatInsurance companies may do their own investigation of your healthhistory before offering an individual health plan — a process knownas medical underwriting. That means that if you have an ongoingillness or medical condition, such as asthma or diabetes, you couldface a challenge finding coverage. In insurance lingo, this is knownas having a pre-existing condition.costsAccording to eHealthInsurance, it is impossible to estimate typicalinsurance costs related to pre-existing conditions.ProsThere are insurers who will provide coverage, although theremay be certain restrictions. For example, they may impose a“pre-existing condition exclusion period” in which they will notcover treatment related to your particular health issue for acertain length of time, usually 12 months.ConsSome insurers may reject your application or chargehigher premiums.how to get itWhatSpeak with a reputable insurance agent or broker to exploreyour options. If you are currently covered by a parent’s policythrough an employer, you also can investigate COBRA. This federallaw requires most employers to allow their children to remaincovered for up to 18 months after they are no longer consideredfinancially dependent on their parents. The cost of your premium,though, is likely to be high. Also, check with your state’s insurancecommission. Most states have high-risk insurance pools thatprovide coverage to individuals with pre-existing conditions.Catastrophic coverage is another name for lower-premium,higher-deductible individual plans. As the name suggests,these plans provide coverage if something happens to you thatrequires major medical care.Whatever your age and health, going withoutcoverage is a bad move, no matter how invincibleyou feel. Period. A trip to the ER for knee surgerycan quickly add up to $10,000 or even higher. Aruptured appendix or other emergency surgerycan cost more than $30,000. There’s a reasonwhy bank-breaking medical bills are the leadingcause of bankruptcy in the United States. It’s veryexpensive to get sick when you are not insured.Trust us, you don’t want to experience it firsthandand become one more bankruptcy statistic.costsprosconsMonthly premiums range from $30 to $175 with deductibles from$500 to $20,000.Lower-cost coverage provides some protection if you have aserious injury or illness.Most catastrophic plans offer bare-bones coverage andextremely high deductibles. That means higher out-of-pocketexpenses for doctors’ visits and prescription drugs.Upping the ageWhen you turn 18 or 19 or graduate from college,you’re generally dropped from your parents’health insurance. Now, 16 states require insurersto allow you to stay on your parents’ policiesuntil you’re in your mid-twenties. To qualify, youneed to live in the same state as your parents,but you don’t have to live with your parents.For a list of the requirements for coverageon your parents’ health insurance, go to theNational Conference of State Legislatures’ Website at ncsl.org.how to get itSort through individual policies with higher deductibles andlower premiums.Sources: Agency for Healthcare Research, eHealthInsurance.com,Golden Rule Insurance Co., Insurance Information Institute, KaiserFamily Foundation, National Conference of State Legislatures.20U.25winter2008U.25winter2008 .21