I think I finally am understanding why people say to get your insurance before COBRA expires but I want to make sure I understand. Here are my questions. Can anyone confirm/answer them?
1. If we start now while we are relatively healthy and get sick while on the new insurance, it will not effect our rates in the future if we keep the same insurance. Rates are determined when you are underwritten and are based on age and sex (in MO). So the several hundred dollars we might save staying on COBRA could be eaten up very quickly in the 10 years we have before medicare kicks in.
2. If I apply for insurance 90 days before we need it, the insurance co will honor the rate quoted even if we get sick or are in an accident before the insurance kicks in. If not, how many days ahead will they honor it? 45? 30?
Other questions:
1. I went online and "applied" so I could see how far back they went and the type of questions they asked. United Health Care asked for 10 years and details like prescriptions including doses. I have no idea what medication I received when I had an operation 2 years ago or needed an antibiotic for a mild ailment. Will they try to rescind me in the future for not answering completely or incorrectly? Do I need to get my medical records? I know we legally can get them but they charge copy fees. It could get rather expensive to go back 10 years plus I have a couple of doctors who no longer practice. I have no idea how to contact them.
2. The couple of places I looked wanted SS# and credit cards so they can bill me if I'm accepted. Can I apply without doing that? That would be mean I should only apply for one policy at a time. How can you really comparison shop then if you don't know the cost? Plus, what if the cost is higher than what we were quoted and want to continue to look around??
I probably have more but this is all I can think of now. Thanks!