Medical Information Bureau and Health Insurance

[mykidslovedogs]

In case any of you want to find out what the insurance companies see when they look you up in the MIB (medical information bureau) for underwriting purposes, you can get a copy of your own MIB by calling (617)426-3660.

This is especially good for those of you who can't remember the services that you've had over the past several years, but want to apply and be as thorough as possible on your applications.

 

[REWahoo]

In case any of you want to find out what the insurance companies see when they look you up in the MIB (medical information bureau) for underwriting purposes, you can get a copy of your own MIB by calling (617)426-3660.

You can also request it online at http://www.mib.com/

 

[FIRE'd@51]

This is especially good for those of you who can't remember the services that you've had over the past several years, but want to apply and be as thorough as possible on your applications.

I'm not sure this is thorough enough. I got the impression from my agent, and also from Pilzer's book, that insurance companies tend to pretty much underwrite based on your answers to the health questions, without actually contacting your doctors. This is done to reduce the costs of underwriting. After you have submitted claims, especially expensive ones, the insurance companies will go back and more thoroughly look at your health history, contact doctors, etc. If at this point, they discover things that weren't answered correctly in the questionaire, they might refuse to pay the claim. If they believe you intentionally omitted information, they might even cancel your policy.

 

[mykidslovedogs]

I'm not sure this is thorough enough. I got the impression from my agent, and also from Pilzer's book, that insurance companies tend to pretty much underwrite based on your answers to the health questions, without actually contacting your doctors. This is done to reduce the costs of underwriting. After you have submitted claims, especially expensive ones, the insurance companies will go back and more thoroughly look at your health history, contact doctors, etc. If at this point, they discover things that weren't answered correctly in the questionaire, they might refuse to pay the claim. If they believe you intentionally omitted information, they might even cancel your policy.

There's no doubt you can hurt yourself by not answering questions the right way. That's why it is good to consult an agent....especially if you have a phone interview with an underwriter. Be careful....You don't want to tell an underwriter that you've had "lumps in your breasts", when the actual diagnosis is fibrocystic disease, because the insurance carrier will incorrectly assume that you are a risk for cancer.

Also, insurance carriers will do a quick comparison of your questionnaire to the MIB, and if they see anything obvious that stands out, they will question you. Another example. If you had a bout with acute bronchitis and took some albuterol, but you didn't think it was important to disclose the bronchitis on your app because it was a one time deal, the insurance carrier will probably notice in the MIB that you had filled an albuterol prescription and ask you what it was for before issuing the policy.

 

[FIRE'd@51]

Also, insurance carriers will do a quick comparison of your questionnaire to the MIB, and if they see anything obvious that stands out, they will question you. Another example. If you had a bout with acute bronchitis and took some albuterol, but you didn't think it was important to disclose the bronchitis on your app because it was a one time deal, the insurance carrier will probably notice in the MIB that you had filled an albuterol prescription and ask you what it was for before issuing the policy.

I guess my concern is how complete the MIB is. The health questionaire often has questions like "Have you ever had ....?" What about before there was a MIB? Also, what if your doctor has things in his records that he didn't report? In other words, just because it's not in the MIB doesn't mean it won't come back to "bite you". At least that is my understanding of the process.

 

[mykidslovedogs]

I guess my concern is how complete the MIB is. The health questionaire often has questions like "Have you ever had ....?" What about before there was a MIB? Also, what if your doctor has things in his records that he didn't report? In other words, just because it's not in the MIB doesn't mean it won't come back to "bite you". At least that is my understanding of the process.

I can understand your concerns, and most people can't remember back the last couple of years let alone a lifetime. But really, what the insurance carriers are concerned most about are those Big items like cancer, diabetes, etc, that people don't usually tend to forget. In Colorado, the contesability rules for "mistatements" on your policy is two years, so if a carrier accepted you and five years down the road you have a major medical event like cancer, they're not going to go back into your lifetime's history and rescind coverage because your doctor wrote somewhere in your medical records that you have a family history of cancer.

However, if you obviously fail to disclose something like the suspicious mole that you talked to your doctor about last year, and 6 months down the road (after you are accepted for coverage), you end up with a malignant melanoma, there is a strong likelihood that your coverage could be rescinded.