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New Guarantee issue health insurance law in Illinois

Effective June 1, 2009,  Illinois has a new law taking effect regarding children being able to stay on their parents coverage until Age 26, as long as the child is not married.    

This law change is well known and documented in Illinois, but there is a component of the law that is not very well known.  Carriers are being very tight lipped about it.   To my knowledge, I have not seen any carrier sending out it's sales force of agents, any documentation on the subject.    

Under the new law, and subject to some yet undefined interpretation, NO DEPENDENT CHILD CAN ...

By |2009-05-11T17:09:00-05:00May 11th, 2009|Categories: Uncategorized|

Q. – There has been a lot talk about insurance companies going under. How do I know if my insurance is at risk?

Insurance companies whose primary business is health carry securities on their balance sheet that are shorter term in nature than a company whose primary business is life insurance or property and casualty.   Health insurance carriers take the $1 in and immediately pay out $0.80 of that dollar.   Life insurance companies take in a dollar with the intention of paying out the claim at a much later date.   Health Insurance companies are far more liquid and flexible with their portfolio thus they, for the most part are not affected by the long term debt obligations, tied to ...
By |2008-11-03T20:50:00-06:00November 3rd, 2008|Categories: Uncategorized|

What is a pre existing condition and why do health carriers worry about this? When Applying for coverage, do I need to tell the insurer or the agent about a medical issue, and what can happen if I don’t?

What is a pre existing condition and why do health carriers worry about this? When Applying for coverage, do I need to tell the insurer or the agent about a medical issue, and what can happen if I don’t?

The dreaded ‘preexisting condition clause’ is huge implied threat to most people getting ...

By |2008-10-23T18:07:00-05:00October 23rd, 2008|Categories: Uncategorized|
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