Guaranteed Issue Health Insurance
From LoveToKnow Insurance
Guaranteed issue health insurance is a product available to people who are not able to get coverage under a standard individual health insurance policy due to a preexisting condition.
Definition of Preexisting Condition
A preexisting condition is one that you have seen a doctor for or are currently receiving treatment for. Each insurance company has its own definition of what a preexisting condition is and decides when it will cover someone who has one. Examples of preexisting conditions include:
- Arthritis
- Cancer
- Depression
- Diabetes
- Fibromyalgia
- Heart Disease
- Obesity
- Pregnancy
Preexisting Condition Exclusion Period
Your health insurance company may agreed to provide coverage but you may need to serve a waiting period of several months before it will kick in. Some companies will make you wait between 12-18 months before they will agree to cover you for any expenses relating to the preexisting condition.
Health Insurance Options for People with Preexisting Conditions
If you have a preexisting condition, you have a few options available to you:
- Apply for a Standard Health Insurance Plan
Apply for health insurance from the company of your choice. You will need to provide information about the preexisting condition in the medical questionnaire when you apply for coverage. You may be asked to undergo a medical examination as part of the process. After the insurance company receives your application it will go through the underwriting process where the underwriter reviews your application to determine whether the company will agree to insure you, decline to do so, or come back to you with a counter-offer.
- Get Coverage Under HIPAA
This type of insurance plan is made for people who have lost their health insurance offered through an employer. Under the Health Insurance Portability and Accountability Act (HIPAA), people who were once covered under a group health insurance plan have the right to have expenses relating to preexisting conditions covered under a new group insurance plan.
- Apply for Coverage Under a Guaranteed Issue Health Insurance Plan
A guaranteed issue health insurance plan will provide coverage for people who might not otherwise qualify. This type of policy covers such expenses as:
- Visits to a doctor
- Hospital stays
- Outpatient services
Where to Find Guaranteed Issue Health Insurance
There are several ways you can find guaranteed issue health insurance. Here are some options:
- Search for Coverage Online
The Internet is a valuable resource when it comes to shopping for heath insurance. You can get information about different companies and what they have to offer at a time that is convenient for you. When you find an insurance provider you think might be a good fit for your health insurance needs, you can contact the company to ask for a quote. You may be able to have this important information delivered directly to your e-mail account.
- Contact an Insurance Agent
Another way to find health insurance coverage is to deal with a licensed insurance agent. These people can sit down with you and ask appropriate questions so that you get the type and level of coverage you need. If the agent is an independent agent he or she is not limited to insurance products from a single company. Instead, the agent can shop the market to find the best fit for your health and your budget.
Since this type of policy is offered without the application having the requirement of going through the underwriting process, premium rates will generally be higher than for other types of health insurance.
Learn More
This page has been accessed 2,360 times. This page was last modified 04:32, 12 January 2009.
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