Healthcare Coverage Portability/Conversion

Healthcare Coverage Portability

When moving from one large employer to another you have coverage rights under HIPAA that will allow you to continue your coverage, the law gives you the following protections:

–    Limits the ability of a new employer plan to exclude coverage for preexisting conditions.  (your new company may have a waiting period to enroll in the new benefits)
–    Provides additional opportunities to enroll in a group health plan if you lose other coverage
–    Prohibits discrimination against employees and their dependent family members based on any health factors they may have, including prior medical conditions, previous claims experience, and genetic information
–    Guarantees that certain individuals will have access to, and can renew, individual health insurance policies

Healthcare Conversion

–    Conversion is the option for when group health insurance coverage ends , an individual may have the option to buy a non group policy (individual policy) from the former group policy insurance company.
–    You must reach the maximum period of COBRA coverage  before using the conversion option.
–    Conversion policies wont impose a new pre-existing condition exclusion periods
–    Each state has their own specific rules, which may include minimum benefits offered and/or maximum rates that can be charged.
–    In general these policies tend to be expensive policies.

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