Medical insurance is a great medium to secure your finances and
your family's health. In the event of unforeseen circumstances,
suitable health coverage can save you from unexpected medical
bills. Getting a health plan policy can be quite tedious. You
should evaluate your family's medical needs and your monetary
status, before selecting a policy. If you are a Louisiana citizen,
you can choose from wide range of product alternatives. The
Louisiana Department of Insurance controls the regulations under
which the Louisiana health insurers can sell private health
insurance to individuals and families.
Individual health plans under Louisiana law is not guaranteed issue, but rather medically underwritten. Medically underwritten policies allow the insurance carrier to assess your past and current health status. When making a decision on your application for insurance, the insurance company may approve the application and offer full coverage under the terms of the health plan; or approve the application with specific exclusions or limitations to medical coverage of pre-existing conditions; or deny coverage altogether. Carriers are permitted to attach elimination eiders to the requested policy which would exclude coverage for specific health conditions. Louisiana insurance laws also provide the insurance carrier with a 12-month look back period and a 12-month exclusionary period limit for pre-existing conditions. Under this circumstance, credit for prior creditable coverage must be given. Monthly premiums may vary and are based on plan selection, gender, age and health status.
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.
Louisiana insurance laws define a small group as between 2-50 employees. Group or employer sponsored medical insurance is guarantee issue, which provides that no group can be declined health insurance coverage based on its health status. The employer may request a that each employee satisfy a waiting period prior to becoming eligible for coverage under the group plan. Insurance carriers may place exclusions on pre-existing medical conditions for a specified period of time, but in any event no longer than 12 months. The look-back period for the determination of pre-existing medical conditions is 6 months. The insurance carrier is required to give credit for prior creditable coverage provided the prior coverage was continuous and without a lapse of more than 63 days. Group plan rates may medically underwritten and higher rates may be charged to "unhealthy" groups, but the maximum allowable rate may not be greater than 35 percent of the indexed rate.
Employer groups of 20 or more employees are bound by federal
COBRA regulations. Federal COBRA regulations state that a departing
employee is entitled to remain on the group health plan for a
period of 18 months, provided that group health plan remains in
existence. An employee who has left work on his own or was
terminated from the job is eligible to be covered by COBRA unless
he was fired gross misconduct. COBRA provides health coverage to
individuals and their beneficiaries, spouses, and dependents. The
COBRA recipient will be responsible for the payment of the entire
the insurance premium that the employer was paying for his coverage
as well as 2% administrative costs.
Louisiana has a mini-COBRA law which for continuation of coverage under the group plan for up to 12 months. State Regulation 68 states that employers with 2-19 employees are required to offer COBRA for 12 months. There are some restrictions that apply to Louisiana mini-COBRA laws, such as the eligible participant may not have access to other group healthcare insurance coverage. Election of this right must be made in writing by the employee or member who is losing coverage and must be accompanied with the initial monthly premium. For those that have exhausted their COBRA benefits, HIPAA eligible guaranteed issue coverage is available under the state's high-risk pool.