When am I eligible for conversion coverage?

• In Minnesota, if you have coverage through an employer’s fully insured group health plan and you leave that job, you are eligible to buy conversion coverage. This is an individual health insurance policy you get from the company that insured your employer’s group plan. If you had family coverage under your prior group plan, your dependents can elect conversion coverage, as well.
• To qualify for a conversion policy, you first must have used up any COBRA or state continuation coverage.
• You do not need to be HIPAA eligible to buy conversion coverage.

What does A conversion Policy cover?

• You must be offered a conversion policy that covers standard health benefits required by Minnesota law. These include hospital and physician care, diagnostic tests, maternity care, preventive care and prescription drugs. The standard conversion policy is very similar to that offered by the Minnesota Comprehensive Health Association (see below). The insurance company also can offer you a policy covering fewer benefits for a reduced premium.

What about coverage for my pre-existing condition?

• You will not face a new pre-existing condition exclusion period under a conversion policy. You may, however, be required to fulfill any remaining time required under your prior coverage.

How much can I be charged for a conversion policy?

• Premiums for a standard conversion policy must be 10% less than the premiums charged by the Minnesota Comprehensive Health Association for similar coverage. Contact the Minnesota Department of Commerce if you have questions about conversion policy premiums. (not finding this in the statutes)

Can my Conversion policy be canceled?

• Conversion policies, like other individual health insurance policies, are guaranteed renewable. Your coverage cannot be canceled because you get sick.