Frequently Asked Questions
We understand there are questions
when applying for insurance. We've listed some
of the frequently asked questions below for you to
browse. If your question is not answered
below, feel free to contact a Ludwig Insurance
representative at 847-991-5840 or send us an e-mail
via our online contact form.
What if I have a question and want to speak with a
representative?
Please give us a call at 847-991-5840
and we will be happy to answer any question you may
have. Alternatively email us via our online
contact form and we will
respond within 24 hours.
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Can children over 18 be insured on a family health
insurance policy?
Family health insurance companies
will typically insure children of the policyholder
through age 23 if they are enrolled as full time
students. Otherwise they are required to obtain their
own insurance when reaching age 18.
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What is an exclusion or pre-existing condition?
An insurance underwriter may accept
an application but exclude coverage for “preexisting
conditions.” For example, you may have had recent knee
surgery and the insurance carrier will accept your
application excluding all claims related to your injured
knee. Such exclusions may last for a specific period of
time or the life of the policy.
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What is
COBRA?
COBRA is 1985 federal legislation
that requires employers with more than 20 employees to
allow employees that leave the company to continue their
insurance in the company plan for 18 to 36 months. The
employee is required to reimburse the employer for the
cost of the insurance plus up to a 2 percent
administrative fee.
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How does, age, gender and tobacco use affect the price
of health insurance?
The older you are the higher the cost
of the policy. Gender has less impact except if there is
maternity coverage. And finally tobacco use may increase
the cost of the policy up to 35% for certain insurers.
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How do I know if I am getting the best price?
Health insurers are required to file
their health plan prices in each state that they do
business. Insurers then must sell each benefit plan at
the filed price. You will not find a health policy on
our website anywhere else at a better price.
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When will I get an
increase?
Each carrier has different rules.
Some increase prices on January 1 of each year,
regardless of when you sign up. Others increase prices
on the policy anniversary. And some will also increase
prices on the policyholder’s birthday. To determine a
particular insurance carrier’s policy, please call us.
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How long does it take to apply? When will my
effective date be?
For most carriers we sell at Ludwig
Insurance you can apply online or print out the
application, complete it and mail it in. Once a
completed application is received by the insurance
carrier, it typically takes two weeks to be accepted.
Some carriers only have effective dates on the first of
the month. Others will start coverage during the month.
If your requested start date cannot be accommodated by
the insurer, you will be alerted online to the available
start dates for that insurer.
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How do I know which carrier is right for me?
There are many elements to consider
when choosing an insurance carrier, including price,
physician network and benefit design. Some carriers have
lower prices initially but raise them quickly. Depending
on the length of time you expect to hold the policy will
help determine if it is right for you.
Some carriers have smaller networks and than others.
Some and certain carriers require referrals to see
physician specialists. We can help you sort through
these items to choose the best insurance carrier for
you.
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What is an
HSA?
A Health Savings Account, or HSA
combines high deductible health insurance with a
tax-favored savings account. Money in the savings
account helps pay the deductible. Once the deductible is
met, the insurance starts paying. Money left in the
savings account earns interest and is yours to keep.
There is no “use it or lose it” restriction with an HSA.
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