Many people believe that their personal medical records are saved in those grey metal filing cabinets at their local doctor, however you may not be aware that your medical records are likely in "Cyber Space", more specifically at a company called MIB.
Similar to credit information being shared with banks, mortgage companies and auto dealerships, your personal medical history is likely being shared with insurance companies using a system called MIB, aka Medical Information Bureau.
This data is collected in a number of ways. MIB maintains a database for Members to exchange confidential information of underwriting significance when an individual applies for life, health, disability income, long-term care or critical illness insurance. As part of the underwriting process, an applicant provides information to the member company. Additionally, the insurance company may obtain your medical records along with other underwriting requirements, often through your doctor's attending physician statement (APS). Any information that has significance in the underwriting process may be reported to MIB, including why you went to the doctor, medical procedures, recommendations and any other items of interest that may affect how the insurance company will rate your future claims liability.
While there is a need for checks and balances to maintain stable insurance rates within the industry, you should be aware of your privacy rights and check your personal medical history through www.mib.com Information over 7 years old should be purged. This information is important for you to know before applying for your next insurance policy.
Vincent Kody is a insurance consultant at www.QuoteBroker.com. Vince is also an advocate for his clients insurance well being, fair underwriting practices and rate negotiation.
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