I assume you mean recission. Yes, an insurance company can rescind a policy if the insured lied on the application and that lie was material to the issuance of the contract. Basically, don't lie when you make a contract with another individual or company.It also doesn't prevent contact termination,
Almost every policy sold is renewable. In fact, IIRC there was a law in 1997, that required that all policies sold would have to be guaranteed renewable. However, if the client has an older "term" health policy, the insurance company can choose to non-renew it in only a few states. Many states do not allow them to non-renew and some states require the insurance company to continue to pay for the ongoing treatment of a condition after the company chooses to non-renew. There is a reason that an insured might want a term health policy, such as a lower cost.refusal to renew,
I was able to find the law about guaranteed renewable. I didn't realize it was part of HIPAA.
Other than the privacy portions of HIPAA (which are a big headache but probably necessary) I really do like HIPAA. They did some good with that law. I don't say that too often about things that come out of government.
The Health Insurance Portability and Accountability Act (HIPAA) mandates that individual health insurance plans be made guaranteed renewable and claimants cannot be dropped from coverage based on pre-existing conditions.
Last edited by buck; 03-31-12 at 12:11 PM.
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2010 Urban and Rural Classification Main Page
I don't think the census bureau breaks it down any farther, though one might be able to find other sites that have totaled what could be called major metropolitan areas. Those might come in under 50%.
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