Business and Personal Finance Dictionary

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 

• PRE-EXISTING CONDITION
  
  A pre-existing condition is a health problem that you already have when you apply for insurance. If you have a pre-existing condition, an insurer can refuse to cover treatment connected to that problem for a period of time, often the first six months, or sometimes for the entire term of your policy. Insurers can also deny you coverage entirely because of a pre-existing condition. And they can end a policy if they discover a pre-existing condition that you did not report, provided you knew it existed when you applied for your policy. However, if youre insured through your employers plan and switch to a job that also provides health insurance, the new plan must cover you whether or not you have a pre-existing condition.
  
  Back