Health Insurance for a Test Ride?
Health insurance is a big purchase, and as is the case with most big purchases, understanding exactly what it is that you’ve purchased is important. To help customers avoid buyer’s remorse, health insurance policies are required to offer a free-look period. If at any time during this period you find that you’re dissatisfied with your policy, you can cancel it and get your money back.
When Is the Free-Look Period Available?
In most cases, full health insurance coverage is an annual contract, and policyholders renew their contract every year. Free-look is only applicable to the first time you purchase that policy and is not available after you renew an existing policy. It kicks in when you receive your policy documents, ensuring that you have ample time to review everything and ensure that the policy you’ve chosen will meet your needs. Most are 10 days to review your policy for satisfaction.
It’s important to note that the free-look requirement is only applicable on health insurance policies that have terms of at least 3 years. Shorter-duration plans that are given for less than a year are not subject to the free-look rule. All ACA plans do have the free look period, with or without a government subsidy.
Understanding Your Health Insurance with Nevada Insurance Enrollment
Health insurance can be complicated, as there are numerous types of plans available. Free-look is an important feature that gives you the opportunity to review your policy and make sure that you understand what it covers. A Nevada Insurance Enrollment health insurance agent can review your policy with you and help you purchase health insurance with confidence.
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What is Subrogation?
Even if it’s been determined that you definitely are not responsible for the accident, you can file a claim under your own comprehensive coverage and pay your deductible. Then, because it’s the financial responsibility of the at-fault driver and their insurer to get you back to pre-accident condition, your insurance company would use subrogation to file a claim with the other insurance company. This will allow them to get back any money paid out for repairs, including your deductible.
Nevada Health CO-OP Calls it Quits
Nevada Health Coop will NO LONGER be offering insurance after 2015. They will continue to be operational throughout 2015, so if you happen to have Nevada Health CO-OP as your insurance company, your claims will still be paid. You can still go to doctors, however, you’ll need to select a new plan for 2016
