Insurance experts

[luvwinnie]

If my company bought a group plan for long-term disability, could anyone be disqualified for health conditions?

 

[ducklite]

It depends on the wording of the policy. It's really an underwriting decision.

Anne

 

[Chicago526]

I think it will depend on the policy your company bought. Check with your HR department. No need to go into details of the condition, just ask if a pre-exisiting medical is excluded from the policy. Your HR dept. should know or be able to find out for you.

 

[mickeyboat]

Another thing to consider is that some policies allow for coverage up to a certain (probably small) amount without asking any underwriting / health questions, but if you want coverage above that threshold, you are subject to the underwriting considerations.

Denae

 

[mrsv98]

In DH's company it depends. If it is the standard coverage, then he is automatically eligible. If we want to go above and beyond (for any insurance) then he would have to go thru some approval process. The best thing to do is contact your HR dept. they will be able to explain everything.

 

[luvwinnie]

Thanks all. We don't have this kind of insurace yet. I was thinking about bringing it up to boss. We don't have an HR dept either....just 14 of us here.

 

[Golf4food]

Thanks all. We don't have this kind of insurace yet. I was thinking about bringing it up to boss. We don't have an HR dept either....just 14 of us here.

Now THAT could make a difference. In general, group policies are priced for the whole group with the assumption of some bad apples (which is why you pay a higher premium than you might think you deserve to pay as an otherwise "healthy" person.) In a small company, however, underwriting will be much easier and more detailed, and the chances of being denied covereage due to a serious pre-existing condition would be quite a bit higher than if you were just one of many thousand employees to blend into a larger group policy.

 

[mickeyboat]

Now THAT could make a difference. In general, group policies are priced for the whole group with the assumption of some bad apples (which is why you pay a higher premium than you might think you deserve to pay as an otherwise "healthy" person.) In a small company, however, underwriting will be much easier and more detailed, and the chances of being denied covereage due to a serious pre-existing condition would be quite a bit higher than if you were just one of many thousand employees to blend into a larger group policy.

This is true, but I know that our medical insurers group small groups together with other small groups in the community and rate based on the community's experience. Otherwise small groups would undoubtedly never get insurance coverage.

Denae

 

[golfgal]

Usually with group policies it is all or nothing, all the employees are eligible or none are. With smaller companies that might not be the case but a lot of large insurance companies have 'package' deals for small businesses that may include a group LTD plan where everyone would qualify for the plan.

 

[snowwite]

It depends on the wording of the policy. It's really an underwriting decision.

Anne

You took the words right outta my mouth