Indiana Health Insurance

Indiana (IN)

Individual Health Insurance Regulations

Medical insurance is an essential aspect of an individual's life. As a head of the family, your main priority should be safeguarding your family against unpredicted events of illness and injury. A suitable health coverage requires a detailed assessment of your family's healthcare needs and your finances. If you reside in Indiana, you can choose from various health plan alternatives. The Indiana Department of Insurance supervises the legislature under which the Indiana health insurers can sell private health insurance to individuals and families.
Individual medical insurance plans in Indiana are not guarantee issued. All individual medical insurance plans, under Indiana law, are medically underwritten. The underwriting process allows the insurance company an opportunity to review your past and current health history. Based upon information provided to the insurance carrier during the application process, the insurance company may opt to deny coverage based on medical history; or approve coverage, providing for an exclusionary period of up to 24 months; or approve the application and offer full coverage. Indiana insurance laws provide the insurance carrier with a 12 month look back period and 24-month exclusionary period limit for pre-existing conditions. Credit for prior coverage is not required for individual health plan policies. Indiana is one of few "non-rider" states, meaning that an insurance company may not place elimination riders on newly issued individual health plans. Usually, the individual health plans vary from one health insurer to another.
Search for plans and the costs associated with them using the search box above. We provide individual, family, Medicare supplemental, group and student health plan quotes for you to compare on all states and zip codes. Remember that having coverage leads to a healthier lifestyle as you are able to get regular doctor checkups and therefore a low-cost premium.

Indiana (IN)

Small Group Health Insurance Regulations

Defined as any company with 2-50 employees, small employer group health plan coverage in Indiana is guarantee-issued. This guarantee assures that small group employers may not be declined coverage based on past or current medical history of the group members. Insurance carriers may impose a 9-month exclusionary period for pre-existing conditions on all applicants who do not have prior creditable coverage. The look-back period is limited to 6 months. For prior creditable coverage to be accepted there may not be a break in coverage of more than 63 days. Once eligible to join the group health plan, an employer may impose a waiting period upon the employee. Insurance carriers in Indiana that offer small group medical insurance are permitted to medically underwrite group policies. This means that they can ask health questions to determine the rates that they want to charge the group as a whole. The rate adjustment factor is 35 percent of the indexed rate, implying that the highest premium that can be charged to a group, regardless of health status, must not be 35% more than the standard rate. Additional factors used to determine rates are age, sex, geographical location, group size and industry rating. Typically, the benefits differ according to the chosen health plan.

Indiana COBRA and Continuation Coverage

Unlike other states, Indiana does not have a state mini-COBRA regulation. Continuation of health insurance coverage or COBRA is regulated under federal COBRA laws. Under COBRA law, you may remain on your previous employers' group health plan and receive the same level of covered benefits for a period of 18 months. However, certain qualified beneficiaries may remain on COBRA for 36 months, such as a widow of a primary insured. You will be responsible for paying the entire premium amount, plus a 2% administration fee. If the insurance company raises the premium on your employer's group health plan, you will also be subject to those higher rates. Once you have exhausted your COBRA benefits, and if you are found to be ineligible for individual health insurance, you may apply for HIPAA coverage under Indiana Comprehensive Health Insurance Association (ICHAI), the state's risk pool. Conversion plans are available through some insurance carriers.