Business Tip Of The Month

TIP OF THE MONTH

You should obtain your MIB every year. You are entitled to one free copy annually. You can obtain your copy by simply calling MIB 866-692-6901 and verifying your identity. MIB Group Inc. PO Box 105 Essex Station, Ma 02112 www.mib.com

WHAT IS THE “MEDICAL INFORMATION BUREAU” OR MIB?

Health Insurance Underwriter’s often check the information you place on your health or life insurance application against the Medical Information Bureau report (MIB).

Your MIB report is your medical history much like your credit report has your financial history. The MIB is a central database containing health histories of tens of millions of Americans. It is shared by approximately 650 life and health insurance companies.

When you apply for individually underwritten life or health insurance (even group plans) it is almost certain that the insurance company will pull YOUR MIB report. The MIB retains the most recent 7 years of medical information. The MIB is NOT subject to HIPPA Privacy regulations.

As with credit reporting, if you are denied insurance based on you MIB report you have the right to obtain a free copy of what is in your MIB report. You also have the right to have erroneous information corrected.