• HOME
    • Business Credit
  • About Marco Carbajo
  • Contact Us
  • Archives
  • Resources
    • Business Calculators
      • Business Credit Card Payoff Calculator
      • Business Loan Calculator
      • Business Lease Calculator
  • Business Credit Cards
  • Afffiliate Program
  • Member Login

Business Credit

Building Business Credit for Small Business

  • Business Credit
    • Consumer Credit
  • Funding
  • Business Credit Programs
  • Business Credit Building System
  • Business Funding Engine
  • Real Estate Funding
You are here: Home / Consumer Credit / What Does Your Medical Information Bureau (MIB) Report Say About You?

What Does Your Medical Information Bureau (MIB) Report Say About You?

September 16, 2011 By Marco Carbajo

Medical Information Bureau

Medical Information Bureau

The MIB (Medical Information Bureau) is not your typical credit reporting agency; it’s classified as a “nationwide specialty consumer reporting agency” that maintains a database for members to exchange confidential medical information.

These members consist of insurance companies that underwrite individual life, disability income, health, long-term care or critical illness insurance.

If you ever completed an application for life or health insurance you probably recall all the medical related questions you had to answer.

If the insurance company you were applying for coverage with is a member of MIB then any of the information you disclosed about your health or longevity (whether admitted on the application or discovered during the underwriting process) could have been sent to MIB and added to your MIB record.

If you decide to apply for health insurance with another member company it would have to provide you with the MIB Pre-Notice and obtain your authorization before it pulls your record.

Upon authorization the insurer’s underwriter would compare the information you supply on your application to what is in your MIB file to identify any alerts.

This allows for better underwriting and risk management decisions when issuing coverage. Because of this database sharing MIB saves its member companies an estimated $1 billion a year by enabling them to avoid fraudulent insurance applications and early claims.

So what exactly does your MIB record contain?

When an insurer (MIB member) pulls an MIB record on an applicant it contains coded information identifying any medical conditions or medical tests reported by other MIB Members on that applicant. It does not have actual “reports” or “medical records” on file.

There are also a few codes that identify dangerous hobbies, or a driving record showing bad driving history.

You are entitled to request one free MIB record every year by calling 1-866-692-6901. Be prepared to answer some personal identifying information so your record can be located, if one exists.

During this recorded call, you will need to certify, under penalty of law, that the information you are providing is accurate, and that you are the person requesting disclosure. The personal identifying information that MIB collects is used only to locate your MIB record, if any, and for no other purpose.

In about 15 day you will receive a response and if they cannot determine if a record exists based on the information you provide they will contact you with additional instructions to complete your request.

The record that MIB will provide to you will include the following:

  • The nature and substance of information, if any, that MIB may have in its records pertaining to you;
  • The name(s) of the MIB member companies, if any, that reported information to MIB; and,
  • The name(s) of the MIB member companies, if any, that received a copy of your MIB record during the 24 month period preceding your request for disclosure.

If you identify any information on your MIB record that is incorrect then contact MIB and request an investigation. They will send you a form to complete in order to initiate your dispute.

It is very important for you to review and check your MIB report for accuracy. You have the right by law to know the content of your consumer file maintained by MIB.

Looking to build your personal and business credit? Become a member of my Business Credit Insiders Circle and gain access to a proven step-by-step business credit building system. A system that provides you access to vendor lines of credit, fleet cards, business credit cards with and without a PG, funding sources and lenders that report to all the major business credit bureaus. Submit your name and email below for details and receive a free audio seminar ($597 value) =>

About the author

Marco CarbajoMarco Carbajo is a business credit expert, author, speaker, and founder of the Business Credit Insiders Circle. He is a business credit blogger for AllBusiness, a subsidiary of Dun and Bradstreet and author of “Eight Steps to Ultimate Business Credit” and “How to Build Business Credit with No Personal Guarantee.” His articles and blogs have also been featured in American Express Small Business, Business Week, The Washington Post, The San Francisco Tribune, Scotsman Guide, Alltop, Entrepreneur Connect, and Active Rain.

Related Posts

  • How to Use Net 30 Accounts to Build Business Credit the Right WayHow to Use Net 30 Accounts to Build Business Credit the Right Way
  • 5 Credit Report Issues that Trigger New Business Credit Line Denials5 Credit Report Issues that Trigger New Business Credit Line Denials
  • Duns Lookup: Find Your DUNS Number in 3 Simple StepsDuns Lookup: Find Your DUNS Number in 3 Simple Steps
  • Start Business Credit : Top 10 Reasons WhyStart Business Credit : Top 10 Reasons Why

Share this:

  • Twitter
  • Google
  • Facebook
  • LinkedIn
  • Pinterest

Filed Under: Consumer Credit Tagged With: medical information bureau, medican information bureau report, mib, mib report

  • Facebook
  • LinkedIn
  • RSS
  • Twitter
  • YouTube

Subscribe to our Newsletter

Join Over 52,000 Business Owners

business credit builder system

business funding engine

>
Build Your Dreams With Net 30 Terms
What's Your Credit Score?

Bank Line of Credit

Get Peace of Mind

CATEGORIES

  • Business Credit
  • Business Credit Videos
  • Consumer Credit
  • Funding
  • Help for Small Business

RECENT POSTS

  • Best Secured Business Credit Cards – Build Business Credit Easily
  • How to Get a Virtual Business Address and Phone Number

CONNECT WITH US

  • Facebook
  • LinkedIn
  • RSS
  • Twitter
  • YouTube

Copyright © 2023 Business Credit Blogger.com | All Rights Reserved | TOC | Privacy Policy | Disclosure | Sitemap | Contact Us