(Newswire.net — September 19, 2013) Chicago , Illnois — Obamacare, US healthcare reform, means that health insurance pre-existing condition exclusions for US citizens and residents will end January 1, 2014. This change can benefit employers with employees that work, travel or live outside the US
Returning employees being covered for pre-existing conditions has been a concern.
A concern that employers with employer group international health insurance plans have had was that employees insured on their group international needed to have certificates of creditable coverage. A certificate of creditable coverage states the date an insured health insurance began and the date the coverage terminated. If an insured did not have a break in coverage of more than 60 days than their coverage was considered continuous and so not subject to pre-existing limitations.
Pre-existing conditions exclusions have been eliminated.
The Affordable Care Act 2014 provisions means that the pre-existing condition issue ends. In 2014, no one would be required to show creditable coverage to be sure that conditions were covered or to be concerned about medical underwriting to get health insurance. Until Obamacare, if a person had a break in coverage of 60 days or more than they were not considered to have continuous coverage and so could be subject to medical underwriting and pre-existing condition exclusions.
If an employee returned after a trip greater than 60 days in need of medical care they would have faced problems with their health insurance plan in the US.
The problem of an employee being out of the US more than 60 days, getting injured or ill then returning to find themselves subject to pre-existing conditions limitations is over. Now, employers can entertain employer group international health and life insurance plans insured by Lloyds of London. Lloyds is a 325 year old market where members join together as syndicates to ensure risk. Lloyds does business in over 200 countries and territories worldwide. Lloyds insures employer group international health insurance all over the world.
Lloyd’s employer international group health insurance rates outside the US can be 30% or more less than US insuror rates.
The rate can be much less than the same benefits offered through international plans through domestic US insurers. With US healthcare reform employers can now take advantage of the significant savings offered on their group international health insurance plans through US companies specializing in international health insurance.
The employer can have the benefits they select which may exceed their current benefits and have significant savings. The savings the employer will enjoy comes from not having to pay all the taxes and regulatory costs incurred by the regulatory environment of US health insurance. The employer also enjoys the flexibility of benefits by working with companies that specialize in group international medical insurance such as Azimuthrisk, SevenCorners and HCCMIS.
The new regulations can protect employees when they return to the US.
This is a time and a way that new US regulations, in this case US healthcare reform, can actually save the US business money. Any business that is currently covering employees that travel or work long-term outside the US and has or has considered having a group international health insurance plan would benefit by requesting plans and quotes at this time.
There are US companies that specialize in international health insurance insured by Lloyds of London.
Azimuthrisk, SevenCorners and HCCMIS employer group international travel health insurance, worldwide permanent international health insurance and travel health insurance plans are available through authorized agent John K Arnold insurance.
John K Arnold has over 30 years insurance experience and specializes in international health and travel insurance as well as complicated or difficult insurance issues including international life and disability income for professional athletes, high risk occupations and supplemental insurance for employees in high risk areas.
You can check plans, get quotes online and enroll at any time.
Please call and/or call for personal professional insurance assistance that meets your needs.