Medical underwriters obtain background information on applicants, including past medical history, in order to determine if the person is eligible for medical insurance coverage. Most employers prefer applicants for medical underwriting positions to have a bachelor's degree with coursework in business and finance. Further coursework can be obtained from a variety of organizations, such as the American College of Financial Services and the Insurance Institute of America. Certification, which is necessary for some entry-level jobs and for advancement, is offered through these two organizations as well.
In medical underwriting classes and courses, students learn to:
- Identify different health care insurance plans and understand their coverage.
- Understand the basics of health care marketing and sales.
- Weigh the pros and cons of benefit plans.
- Match applicants' needs with health insurance coverage options, including additional coverage options.
- Comfortably use the vernacular of the medical industry.
List of Common Courses
Health Insurance Basics Course
A course in health insurance basics provides an overview of the terminology and tools of the medical insurance industry, as well as the role of the industry in the United States and how it works. Topics include legal concerns for the medical industry,the health insurance business environment, types of health insurance plans, policy provisions and loans, retirement plans. The class also covers underwriting techniques for group and individual health insurance policies.
Supplemental Insurance Course
In a supplemental insurance class, students learn about the most common added coverage options available, such as coverage for particular types of illness, dental plans, and prescription coverage. Potential deficiencies in basic health care plans are explored, coupled with the knowledge and skills to administer available supplemental insurance plans. This class emphasizes the need to protect clients' health and financial interests.
Medical Expense Insurance Course
Enrollees taking this course learn about insurance reimbursement coverage and management. The class focuses on hospital and surgical insurance for individuals and major health insurance for groups, which are two of the most popular types of insurance policies in the U.S. Students also analyze underwriting procedures, as well as insurance policy pricing, marketing and selling. Other topics include claims and policy administration.