Oct 27
Check the accuracy of your medical history…it could save you money
In addition to your medical exam, insurance companies will track down your medical history through the Medical Information Bureau (MIB), a clearinghouse of medical information that insurers share. Privacy laws generally protect your medical records, but when you’re applying for life, health or disability insurance, you’re asked to sign a release allowing the carrier to review those records. You can refuse, but then you won’t get coverage.
Just as you would check your credit history for mistakes, you should also check your medical history for mistakes. A minor mistake could drive your insurance costs up. One mistyped diagnosis code could drive up your premiums.
Here’s a good article from Money Magazine that explains what you should look for in your health records and how you should set the record straight.
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