Preexisting condition

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Preexisting Condition

In insurance, a medical condition that existed before one applied for and/or received a health insurance policy. Most private health insurance companies refuse to cover preexisting conditions, at least for a certain period of time. Depending on the severity of the preexisting condition, a provider may refuse to provide health insurance at all. However, employer-provided health insurance must cover preexisting conditions if an employee switches insurance plans as the result of a job change.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

Preexisting condition.

A preexisting condition is a health problem that you already have when you apply for insurance.

If you have a preexisting condition, an insurer can refuse to cover treatment connected to that problem for a period of time. That period is often the first six months, but may be for the entire term of your policy.

Insurers can also deny you coverage entirely because of a preexisting condition. And they can end a policy if they discover a preexisting condition that you did not report, provided you knew it existed when you applied for your policy.

However, if you're insured through your employer's plan and switch to a job that also provides health insurance, the new plan must cover you regardless of a preexisting condition.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
References in periodicals archive ?
"The American people already know exactly what the President's health care plans mean in their lives: higher costs, worse coverage and the end of lifesaving protections for people with pre-existing conditions," Pelosi said in a statement, The Hill reported.
Acting White House chief of staff Mick Mulvaney argued Sunday that the Trump administration does, in fact, support protections for those with pre-existing conditions.
The bottom line is that the ACA, including its protections for folks with pre-existing conditions, may very well be in jeopardy if Chief Justice Roberts views the ACA as fundamentally different now that the financial penalties for not having health insurance are gone.
"These plans are not required to cover pre-existing conditions. The only coverage that guarantees that protection is the Affordable Care Act.
Harrington and other Democrats point to things like Sessions earlier this month introducing a non-binding resolution to protect people with pre-existing conditions -- a provision at the heart of Democrats' health care messaging this cycle.
have pre-existing conditions. Of those, many apply for private individual or group short-term disability benefits - or - wait and apply for long-term disability benefits based on claims for physical or psychological injuries or illnesses.
Additionally, the Trump administration is siding with Texas Attorney General Ken Paxton in a case that seeks to declare protections for those with pre-existing conditions to be unconstitutional.
"Everybody I know in the Senate, everybody is in favor of maintaining coverage for pre-existing conditions," Senate Majority Leader Mitch McConnell, a Republican from Kentucky, said Tuesday.
The pre-existing conditions part should be the first section to get thrown out.
Among the modifications that passed the House a few weeks later was a provision allowing states to waive the federal protection for people with pre-existing conditions. Insurance companies in those states would be able to place those people - who make up an (http://kff.org/health-reform/issue-brief/pre-existing-conditions-and-medical-underwriting-in-the-individual-insurance-market-prior-to-the-aca/) estimated 27 percent of American adults under age 65 - into high-risk pools with yearly premiums of what an (http://blog.aarp.org/2017/04/27/state-high-risk-pools-failed-consumers-in-the-past-and-theyd-fail-them-again/) AARP report projected could reach $25,700 by 2019.
Before enactment of the Affordable Care Act (ACA), also known as ObamaCare, insurance companies could deny healthcare coverage to people who had pre-existing conditions. These denials potentially affected a total of 50 million people, including 17 million children.