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What is a waiting period within health insurance?

What is a waiting period within health insurance?

 

Question: I’m confused about the waiting period. What does it mean?

Answer:

Many people purchase health insurance without knowing its many exclusions, one of which is a waiting period. Just because you buy a policy doesn’t mean the insurance provider will cover you from the time of purchase. Instead, you have to wait for a certain amount of time before insurance coverage kicks in. 

A waiting period is the time span between the time of policy purchase and when you can claim benefit from the insurer. Waiting periods can vary depending on your chosen plan type, the level of coverage, and the insurer. The only rule that applies to all waiting periods is that you will not receive any benefit during that time. 

Waiting periods are usually put in place to prevent policyholders from immediately claiming treatment for pre-existing conditions, which includes any condition or illness that you may have experienced symptoms of or received treatment for in the past. Additionally, many policies come with long waiting periods for the following types of coverage: 

  • Maternity care - Usually between 10 to 12 months
  • Dental care - 6 to 12 months 
  • Cardiovascular care and cancer - Up to 2 years

If you still have any questions about waiting periods, please don’t hesitate to get in touch with one of our expert brokers at Pacific Prime. We’re always happy to help! Contact Pacific Prime to have any of your insurance-related questions answered today. 

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