When you apply for life, health, critical illness, long term care or disability insurance, you will have to sign a form authorizing the company to obtain and disclose your medical information. That authorization allows your insurance company to securely receive and share your information with other organizations, including the Medical Information Bureau.
The Medical Information Bureau is a database of medical and some non-medical information, stored for the purposes of preventing fraud. The Medical Information Bureau was created by insurance companies in an effort to protect themselves against fraudulent claims. In that interest, they begin to share information and compile it into what is now the Medical Information Bureau.
How does it work?
When you apply for certain types of insurance coverage with a company that is a member of the MIB:
- Your insurer will inform you of their policy of sharing your information with the Medical Information Bureau, as well as that other members can receive that information if you apply for coverage through that company.
- You will be asked to sign an authorization form so that your information can be shared.
- Information is sent to the MIB in codes. Those codes are exclusive to the MIB and are not known outside of the MIB for the protection of your privacy.
- When you apply for coverage under a new member company, they can request a report on you from MIB.
- That company will use your MIB report to make sure your application is accurate.
- If they find conflicting information, they may have more questions. You can’t be denied coverage based solely on inconsistencies between the report and your application.
- The MIB does not keep actual medical records.
- The MIB does not collect all information related to insurance, just information specific to individual plans related to the coverage you are requesting.
- Typically, information from over 7 years is not included in reports.
- You can request your MIB file once a year for free. You can call into their phone line and request your file online.