Free Look
MR. WATSON: Health insurance has
- a ten-day free look. But people who buy
- Long-term care policies and Medicare supplement policies get a 30-day free look. A 30-day free look for long-term care, Medicare supplements.
Common Exclusions
MR. WATSON: Common exclusions in a health insurance policy: War, act of war, self-inflicted injury. Guys, over the last four days I have thought about jabbing a pen in my eye on several occasions. Y'all are just killing me!
(Laughter.)
MR. WATSON: Would I have been covered?
ALL: No.
MR. WATSON: But I also felt like jabbing a pen in some of y'all's eyes. Would you have been covered?
ALL: Yes.
MR. WATSON: Depends on who is doing the jabbing. Losses from suicide or hernia are often excluded. If the hernia was accidental-
WOMAN: Why hernia?
MR. WATSON: Because folks could get a hernia and may have had it for a long time. Then they buy an individual health policy and expect the insurance company to pay for the operation. They paid a small premium and expect the insurance company to pay a large benefit. But, male babies are sometimes born with hernias, they are covered. Y'all understand?
ALL: Yes.
Maternity - (Individual Policies)
MR. WATSON: Maternity. I will tell you how we handle maternity. We might pay maternity as a
- flat amount, say up to $10,000. Who knows, or as a
- multiple of the daily room and board. Got it?
MR. WATSON: How is this decided? It depends on the policy that you buy. Okay?