When it comes to insurance, medical insurance has always taken
precedence to other types of insurance. As an earning member of
your family, it becomes your responsibility to protect your family
against sickness or injuries. An appropriate family plan can save
you from huge medical bills and promise well-being of your family's
health. It is advisable to assess your budget and family's health
care needs, before purchasing health coverage. If you live in
Oklahoma, you can choose from various options of health insurance.
The Oklahoma Insurance Department controls the regulations under
which the Oklahoma health insurers can sell private health care
coverage to individuals and families.
Oklahoma, like most other states, allows the insurance companies to review your health history in determining if they want to accept you for coverage. This is called medical underwriting. If you have certain pre-existing medical conditions, the insurance company may decline your application or place an elimination rider on your policy that makes them exempt from having to pay claims toward the treatment of that condition. There is no limit for look-back period and the exclusion period for pre-existing conditions, implying your insurer can review your past history up to any period and place an exclusion for an unregulated amount of time for pre-existing conditions. For those that have had prior coverage, the individual medical insurance carriers in Oklahoma are not required to recognize prior creditable coverage for pre-existing medical condition exclusionary periods. HMO plans are not permitted to place exclusionary periods on individual health plans, which could explain why there are currently no insurance companies in Oklahoma that offer an HMO plan. Once you are covered on an individual medical insurance policy, your coverage may not be cancelled if you become ill or have excessive claims with your insurance company.
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.
Groups of 2-50 employees are guaranteed issue in Oklahoma. This means that groups of this size may not be denied coverage because of the overall health status of the group or any employee under requesting coverage under the group plan. No individual employee may be denied acceptance on the group plan based on their personal health history. The employer may request a waiting period before a new employee is able to join the group medical plan, but that waiting period must be the same for all new employees. HMO carriers may request that the employer does not permit an employer to join the group HMO plan until that employee has been with the company for at least two months. This is referred to as an HMO affiliation period, which must apply equally to all new employees. This is because HMO plans are not permitted to place an exclusionary period on pre-existing medical conditions, so they require a brief waiting that may encourage the employee to choose a PPO plan, where exclusionary periods are allowable. For any type of health plan, other than an HMO plan, the insurance companies may exclude paying benefits on pre-existing medical conditions for a period of no more than 12 months. If a new member on the group plan has prior creditable coverage, the length of time under that prior health plan must be applied to that exclusionary period. When determining if a treated medical condition is pre-existing, the insurance may look back at the insured member's health history a maximum of 6 months from the date the employee's policy became effective. Insurance companies may charge higher rates to companies that pose a higher health risk, but that maximum allowable rate may not exceed 25% of the standard rate.
Federal COBRA regulations apply to any Oklahoma employer that has
20 or more employees. Under federal COBRA, an employee may continue
on the group plan for up to 18 months after termination of
employment. Qualified dependents are also eligible for COBRA, and
under certain circumstances or qualifying events, may be eligible
for up to 36 months of continuation coverage.
Oklahoma has a mini-COBRA law that applies to companies with fewer than 20 employees. Under this state COBRA regulation enacted through Oklahoma Statute Title 36, Chapter 1, Article 45, an employee may continue on the group plan for a period of 6 months. Conversions plans are available through some insurance carriers in Oklahoma. This allows a person that is leaving a group plan to convert their coverage into an individual health plan. The premiums for this option may be very high, as well as a potential reduction in benefits. For those that lose or exhaust their COBRA coverage, they may apply for coverage under the Oklahoma Risk Pool if they are not eligible for individual health insurance.