Mental Health Coverage – Antidepressants

If you suffer from any kind of mental disorder, you probably know all too well the lengths insurance companies will go to in order to deny legitimate claims. Many insurance companies do not offer mental health coverage because they do not want to lose money. Health insurance companies particularly hate antidepressants, however. For example, a simple Prozac prescription affects not only your mental health coverage, but also every other aspect of your health insurance. Insurers often assume that people who take antidepressants are suicidal or have serious illnesses that put both themselves and others at risk. Antidepressants affect your premiums and deductible and can also affect your life insurance policy. Why are insurers so afraid of mental disorders?For insurance companies, whether or not they decide to insure a particular condition or medicine is a business decision. Insurers make money by creating a large pool of healthy people. These people are unlikely to need any medical help, but their premiums still create revenue for insurance companies. People who are on antidepressants, on the other hand, are generally considered high-risk because depression can be a sign of other, more serious disorders. Mental disorders also require lifetime treatment, which makes providing mental health coverage too costly for many companies to consider.Although many insurance companies shy away from providing mental health coverage, you can still find a good insurance plan if you spend some time looking. The best option is to enroll in some sort of group plan, such as an employer-sponsored health insurance package. These plans take anyone who qualifies and do not include pre-existing condition exclusion periods. If you cannot find a group plan, try to find an individual insurance plan that does not treat depression as a pre-existing condition and that provides adequate coverage. This type of company does exist, but you might have to do some research.Fortunately, you will not have to struggle to find mental health coverage for too much longer. The Mental Health Parity and Addiction Equity Act, passed in 2008, requires group plans with existing mental disorder coverage to expand their benefits. Coverage for mental disorders will now be the same as that provided for other types of procedures and conditions. Another new reform law will require insurers to provide basic coverage for mental disorders for all insurance packages sold through state exchanges. These two laws will significantly expand coverage and make the task of finding adequate coverage much easier.If you need assistance in locating particular coverages at a pre-determined price, we can help you save up to 50% on your health insurance.