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Marketplace Schemes Bringing Diabetic Health Insurance Plans Under Single Umbrella
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The US government has now made things easy for the citizens to invigilate and buy required health insurance for diabetic patients from a singular marketplace source. Other than unification of policy purchase sources, this scheme has got one more interesting facility. Often the policy issuing companies refuse to offer requisite coverage, bear treatment cost, or charge incremental premium size, simply because the policy holder or his/her family members are diagnosed with Diabetes as preexisting illness. This scheme will prevent the insurance companies from doing so, and it will be enforced from January 2014 onwards.
Marketplace health insurance for diabetes in a nutshell
This facility enables any individual or small scale enterprises to come and compare existing diabetes health insurance schemes offered by different companies. They aren’t required to visit different places to collect information; a singular marketplace source will do it for them. Healthcare policy issuing companies participating into this venture will have to safeguard consumer’s interest, charge justified fee and offer specific benefits. Costing hierarchy will segment the schemes into four different categories, namely Platinum, Gold, Silver and Bronze.
Eligibility of the purchaser
Although this facility enables almost everyone to purchase policy, still it has certain eligibility criteria for the potential diabetes health insurance policy purchaser. If you are below a certain income level, or ineligible for healthcare policies issued by your employer, or not covered by any related schemes-you would be provided with certain financial bail outs to help you purchase your desired policy from the marketplace source.
It is to be noted that both buyers and sellers of health insurance for diabetes enjoy the right to conduct the transaction outside marketplace source. You are still allowed to buy policies from companies not participating this venture and go ahead, but with a small twist. In case the policy issuing company doesn’t meet eligibility criteria set by marketplace authorities, you stand ineligible for getting any financial help from the Federal authority.
It’s a necessity to escape tax obligations
From 2014, it would be mandatory for an individual to purchase healthcare policies to escape tax liabilities. Policies purchased from marketplace sources will invite tax exemptions, and it includes healthcare packages like Medicaid, eldercare programs, state children’s healthcare programs, TRICOR and other job related insurance schemes.
Diabetic health insurance plans purchased from marketplace carries few crucial elements of healthcare benefits to treat emergencies. This is inclusive of
• Physician’s fees and cost of hospitalization including emergency medication and treatment
• Maternity and neonatal care
• Substance abuse and psychological disorder treatment
• Expenses associated with rehabilitation programs and prescribed medicines
• Management of chronic complicacies
• Eye and oral care services for children
Nevertheless, you are always encouraged to clarify things from the policy seller regarding the coverage offered by the concerned scheme
Most importantly, the policy seller can’t charge more premiums or refuse you from providing the requisite coverage, just because you are carrying Diabetes. In additions, the plans sold from marketplace sources limit your exposure before probable expense level to be shouldered for treatment purpose. Unless the conditions like age, consumption of nicotinic substances, geographical territory or family size are taken into account, you aren’t liable to bear any extra cost to afford your diabetes treatment.
Lester Hobbs is an eminent lifestyle correspondent, and is currently highlighting issues like diabetic health insurance plans available for common people.
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