What is a Guaranteed Issue Health Insurance policy? What does it cover?
There are many people who do not qualify for health insurance because they have pre-existing health conditions (cancer, diabetes, heart conditions, depression, etc.) that disqualify them. Even if a person with one of the conditions listed above qualifies for a health insurance policy, treatment related to his/her pre-existing condition may not be covered in the policy. A guaranteed issue health policy will offer comprehensive health insurance coverage to people in such a predicament.
Some guaranteed issue health insurance policies have an initial period where coverage related to your pre-existing condition is not part of the package. Some policies require a one year waiting period until your pre-existing condition is covered.
Guaranteed issue health insurance policies cover many aspects of medical attention, including inpatient, outpatient, doctor visits, and hospital visits.
Some guaranteed issue policies require that you are employed, but others waive that qualification.
Most guaranteed issue policies are also guaranteed renewable.
Who needs a Guaranteed Issue Health Insurance policy?
This type of policy offers coverage to people who do not typically qualify for health insurance. People with pre-existing health issues (heart disease, cancer, etc.) will find a guaranteed issue health insurance policy helpful.
Who is usually ineligible for Guaranteed Issue Health Insurance policies?
Almost everyone qualifies for this health insurance policy; that’s the beauty of a guaranteed issue policy. People who usually don’t qualify for a health insurance policy because of pre-existing conditions (heart disease, etc.) will most likely qualify for a guaranteed issue health insurance policy.
How much does a Guaranteed Issue Health Insurance Policy cost in relation to other health insurance products?
This product usually comes in a variety of price brackets. Some companies offer it as a deductible program, and others offer it as a co-pay program.
What are some alternatives to Guaranteed Issue Health Insurance?
If you have a pre-existing health condition, there aren’t too many alternative health insurance policies. The main alternative we suggest is this: if you are healthy, buy a health insurance policy. You will be glad you did if you fall seriously ill. Remember, even if you purchase a guaranteed issue policy after you fall ill, coverage for your illness may not kick in until a year later.
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