UNDERSTANDING INSURANCE

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This page contains dozens of short articles that will help you quickly understand international insurance. For example, terminology, purchasing details and managing your insurance coverage are topics that are all covered within these articles. Choose an Article From the Topics Below

INSURANCE WAIVERS/RIDERS, RATE-UPS, & CAPPED COVERAGE

Not one of us likes a "waiver” or “rider" on our health insurance coverage. A waiver/rider is an insurance company's method of excluding certain pre-existing conditions from coverage. For example, you have had surgery on a knee due to a soccer injury. The company places a rider on the knee, which means a recurring problem to that knee will not be covered.

What about a "rate-up"? Some companies will "rate-up" the amount of premium charged for the policy instead of using a rider, but this is not a general practice with international insurance companies.

The other method of covering pre-existing conditions is "capped coverage." In this situation the company does not cover the pre-existing condition for the first 24 months, and then limits coverage for the condition to $5,000 a year for the next ten years. This is better than no coverage on a pre-existing condition.

The best option is to accept a "temporary" rider. Often a company will remove a rider after 24 months if you have had no recurring problems with the pre-existing condition. Overall, a rider is preferable to capped coverage if there is a possibility the rider can be lifted at a later date.

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Health Insurance in the USA

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