Medical Information Bureau

Most individuals are aware of credit bureaus and the FBI but few people realize there’s an agency that collects medical information on individuals. The Medical Information Bureau, MIB, was created in 1902 for the purpose of protecting insurance companies. The name has been changed to MIB Group, Inc. It’s a membership corporation or trade association owned by approximately 470 members.

The Federal Fair Credit Reporting Act and Accurate Credit Transition Act give consumers the right to know the contents of their MIB file. The legal term for this is disclosure. Just like credit reports, a consumer is entitled to one free copy of their MIB report annually. Each time an individual applies for insurance, if the insurance company is a member of the MIB, information about the individual is submitted to the MIB.

If you have never applied for any type of individual insurance there’s no record for you. Just like a credit report, you have the right to dispute information you believe is inaccurate. But unlike credit reports there are fewer incidents of false information. Per the MIB, when they investigate a disputed file only about one percent proves to be false. Health information is more sensitive than credit information therefore more protected.Before the MIB was established insurance companies discovered that individuals were not always truthful when applying for insurance.

Insurance applications always ask individuals to state they provided all their health information and all their answers are true. Individuals sometimes withheld information fearing their insurance would be denied or they’d have a higher premium. This resulted in insurance companies paying claims under fraudulent conditions and incurring unnecessary losses. Thus the MIB was established.The toll free number to call for your free medical report is 866-692-6901.

If it has been longer than seven years since you applied for insurance there will not be a report. Be prepared to give your personal information. This information is validated before they will release any information to you. You are asked to certify under penalty of perjury that all the information you provided is true and that you are who you say you are.

When your request for disclosure is approved, the following information is provided: The nature of all information about you, the name of all MIB companies that reported information about you and the name of any member that received a copy of your report in the past twelve months.Though their error rate is very low it is sometimes useful to request a copy of your MIB report.  Sometimes individuals who move frequently and have many medical issues do not always remember doctor names, dates and exact illnesses. The MIB is one source, one call where all your medical information is stored.

Before applying for insurance it’s helpful to request a copy of your MIB report. That way you are sure to disclose everything that they already know about.

April 10th, 2009 by admin | Posted in Health Insurance | (20)