Health Insurance Articles
What Is Guarantee-issue Health Insurance
2010-01-15
Guarantee-issue health insurance is a type of health insurance policy that cannot be denied due to previous or existing medical reasons. In many cases, people who apply for health insurance policies are rejected due to high-risk factors, such as a present health condition or past health history. Health conditions that insurance companies typically shy away from are heart conditions, diabetes, cancer, kidney impairment and other serious illnesses. Even if someone with one of the aforementioned conditions happens to get health insurance coverage, medications and treatments in relation to his/her condition may not be covered in his/her health care plan. With guarantee-issue health insurance, individuals with these high-risk conditions or a bad medical history don't have to worry about not receiving comprehensive health insurance coverage.
Guarantee-issue health insurance is a health care plan that essentially qualifies everybody. Those that are rejected from major medical insurance can find respite here. The only reason an individual would be rejected for guarantee-issue health insurance coverage is if they have a history of non-payment of premiums and or have been found guilty of fraud. Other than that, virtually anybody can be accepted and given this health care plan. It is worth noting that with this health insurance coverage usually comes an initial period when medical costs connected to a pre-existing condition are not included. Some insurance companies ask for a waiting period of at least a year before your pre-existing condition can be covered. However, many companies also guarantee policyholders the ability to renew their policy, as long as premiums are paid.
Guarantee issue health insurance doesn't offer as much coverage as the other major health insurance policies, and thus only covers particular aspects of health care plan. For instance, the insurance company will likely only compensate injuries due to personal accidents, such as burns, dislocations, paralysis, fractures, comas or brain concussions. With this policy, most are also covered in the case of vehicular and other accidents as well. Additionally, guarantee-issue health insurance may include several aspects of medical assistance, such as doctor visits, hospital visits, outpatient and inpatient. It should be noted that some guarantee-issue policies require the applicant be employed.
Applying for a guarantee-issue health insurance may be easy, and almost anyone can be accepted. However, just like any endeavor bound by legal contracts, the policy must be scrutinized carefully. Read the fine print, particularly the exclusions area of the insurance policy before sealing the deal. This is the only way for you to ensure that you have adequate coverage in the event of an accident.
If you are an individual with a bad medical history or a serious medical condition, guarantee-issue health insurance may be the solution to your health insurance woes.
