Can Health Insurance Be Restored After Termination?
The answer to this question is not really simple, though some who are eligible for a health plan if they had been in default of their policy for a while and who had filed for bankruptcy or were facing any other legal issues may find themselves eligible. What you have to do is follow the usual procedure and file for the restoration of your health plan. Some policies that have expired may be restored, too.
The thing to remember about health insurance is that you will be required to pay extra for the renewal of the policy, so the initial cost of the policy may be the limit for what you can get in return. If you are planning to renew your plan on or after the expiry date, you may find that the insurance company has already raised the rate to the higher level, just to get more money from you.
It is usually easy for companies to give wrong information to consumers in order to get more money from them, and therefore it is important to check what is being offered to you. You should not just take whatever they say on face value.
While most of the financial policies that are issued by private insurers like state owned agencies will be valid for the specified term for health insurance, there are cases where a company has promised something and then changed their mind. Such companies are known as “change agents”. In such cases, you will not be able to get health insurance that is valid, because the company will be sure to cancel your policy before the end of the term.
So while it is not possible to restore health insurance on the same plan that you have now…
You want to know if you can regain your coverage, you should try to understand the process of renewal, so that you will know whether you are going to have to pay extra or not. Most health insurance plans have a grace period of a few months, when they will decide whether to renew your health insurance or not. You should not sign up for a new health insurance policy on the first day of the grace period, unless you have a good reason for doing so.
In addition, you should also ask what if you have filed for bankruptcy or suffered any other legal issues in the last year, and this is going to prevent you from getting health insurance. If this is the case, then you have to realize that the companies have no choice but to reduce the benefits that they offer. You should therefore make sure that you will not have to face the consequences if your plan is canceled, because you will still be forced to pay the premiums that you owe for it.
If you have declared bankruptcy and are required to use your health insurance, then you will be put under strict rules that are meant to protect your right to get health insurance. Also, when the health insurance company is going to reinstate your health insurance, you will not have to be asked for proof of the reasons for not having the insurance for the last six months