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Insurance for all with guaranteed issue health plans

 Cost of insurance coverage and the presence of pre existing conditions are purported to be the major reasons for the large number of uninsured people. Guaranteed issue health plans go a long way in ensuring that people don’t lack the health insurance coverage that they need. However, when choosing such guaranteed plans for health insurance, it is important to understand the factors governing them as well as the conditions that an individual might face to choose the right one.

Reasons for refusing health insurance

The chief reason for the refusal of most companies to cover those with pre-existing conditions has been attributed to the cost of insuring such individuals. Given that health insurance companies are often profit driven, where they receive large amounts as premiums but only pay out very few claims, the challenge of having to pay out more is a deterrent. In other words, when someone with a pre existing health condition is insured, the chances of payouts are high while the premiums are low, which means that the company will not be making any profit.

Challenges faced by people with pre existing medical conditions

Apart from the fact that they are often refused health insurance because of pre existing conditions, these people often face stringent conditions being imposed in case they manage to get coverage. Even in group health insurance plans, where the cost is spread out and the risk lower, there are chances of companies refusing to insure such people. When an individual is refused insurance once, the chances that he or she will be able to avail insurance from another is low. This further complicates the issue.

Factors governing guaranteed health plans

With guaranteed issue health plans, the insurance company is morally and legally bound to accept and insure all, irrespective of whether that person suffers from any pre existing medical condition or not. In fact, there are several States, which have legally mandated insurance companies to provide such guaranteed individual health insurance plans to all. However, the chief drawback of these plans is the cost factor, as they are more expensive than individual plans. Another factor that's important to consider is the waiting period, which some companies might insist upon.
While it is best to buy individual insurance while you are healthy, it is equally important to consider health insurance for pre existing conditions in case you are suffering from such health conditions. Despite the expensive nature of such insurance plans, it's definitely better and cheaper than bearing the medical costs on your own.

Different Types of Pre-Existing Condition Insurance

Different Types of Pre-Existing Condition Insurance

There are 2 types of pre-existing condition insurance coverage:

  • Public pre-existing condition insurance plans
  • Private pre-existing condition insurance plans

Public Insurance Plans

This type of pre-existing condition insurance coverage is normally provided by the federal government or the state government. There are times when you are not able to have health insurance from your employer, or buy Medicare and other individual plans. If you have not had insurance for more than six months, you may apply for such insurance, as you will be eligible for the public pre-existing conditions health plan. However, you will have to pay a premium every month along with co-payments. In case you can’t afford these premiums, you may apply for a Medicaid.

Remember

  • There are three types of government plans on offer.
  • Each plan gives you access to a limited number of providers listed in its network. Thus, you won’t be allowed to get treated by your preferred doctor if he/she isn’t in the network of your chosen plan.
  • Your deductibles, premiums, and co-pays will differ based on the plan you choose.
  • All plans pay for your preventive care completely.
  • These plans are temporary and costs vary according to the State where you reside.

Private Pre-Existing Conditions Health Plans

There are many genuine and fraud companies that offer these plans and the costs, level of coverage, and quality vary from one plan to the other. There are limited indemnity plans that have certain limitations of amount as well as coverage. Here, you tend to pay more to get more coverage.
Depending on the genuineness of the limited indemnity plans, your medical cards can offer you discounts on prescription drugs and health care services from certain providers and for certain treatments, which is quite similar to pre-existing insurance plans issued by the government.
Benefits

The major benefits of pre-existing condition insurance plans are:

  • They are very cost-effective.
  • They are guaranteed issue plans, which mean that you will not be refused coverage.

Conclusion

Whatever plan you choose, it is very important for you to check them for their quotes, limits, and other factors to ensure savings.

 

Requirements for Guaranteed Health Insurance

Requirements for Guaranteed Health Insurance

With thousands of people looking for financial support to pay their medical bills, a prudent solution is offered by the guaranteed health insurance plans. As the name implies, such insurance, unlike the limited indemnity plans, offer insurance to almost all people who apply. 
There may be times when you apply for medical expense reimbursement under a guaranteed health insurance plan, only to be refused. You may not be aware that you have to file a proper claim for your expenses to be compensated. The majority of insurance plans require you to submit all the supporting documents, out of which you might have missed one or two, thus ending up having a claim that’s refused. This is why you should know about the requirements of guaranteed health insurance plans to benefit from them.

Requirements for filing a successful claim

There are usually no restrictions or requirements based on which your claim would be refused. However, you should pay the monthly premiums on time along with any other additional fees that may be applicable for your policy, and file your claims the right way. Thus, the minimum requirements of filing a successful claim include:

  • Prompt payments of premiums and other payments, if any.
  • Filing your claims along with all the supporting documents.
  • Ensuring that your State or federal law permits such plans.
  • Staying in the same State where you have bought the guaranteed health insurance plan.

Benefits of guaranteed health insurance

Some of the benefits of such plans are listed below:

  • You are not refused reimbursement of your medical expenses even when they are quite high.
  • You are covered for all outpatient, operation, and hospital expenses.
  • Discounts on offer can reduce your medical care costs by up to 50%.
  • You get discounts on your prescription drugs.
  • Maximum payments are disbursed to cover lifetime occurrences of health issues.

Choosing the right plan

To select the right guaranteed health insurance plan, you should consider these factors to compare and decide:

  • lifetime per-occurrence maximum
  • deductible amount
  • benefit period
  • specific limits
  • other medical card requirements, if any

You can take your search online to get instant quotes from multiple insurance companies to compare these factors and select the plan that best suits your needs and budget.

 

facts on gih

Insurance for all with guaranteed issue health plans

 Cost of insurance coverage and the presence of pre existing conditions are purported to be the major reasons for the large number of uninsured people. Guaranteed issue health plans go a long way in ensuring that people don’t lack the health insurance coverage that they need. However, when choosing such guaranteed plans for health insurance, it is important to understand the factors governing them as well as the conditions that an individual might face to choose the right one.

Reasons for refusing health insurance

The chief reason for the refusal of most companies to cover those with pre-existing conditions has been attributed to the cost of insuring such individuals. Given that health insurance companies are often profit driven, where they receive large amounts as premiums but only pay out very few claims, the challenge of having to pay out more is a deterrent. In other words, when someone with a pre existing health condition is insured, the chances of payouts are high while the premiums are low, which means that the company will not be making any profit.

Challenges faced by people with pre existing medical conditions

Apart from the fact that they are often refused health insurance because of pre existing conditions, these people often face stringent conditions being imposed in case they manage to get coverage. Even in group health insurance plans, where the cost is spread out and the risk lower, there are chances of companies refusing to insure such people. When an individual is refused insurance once, the chances that he or she will be able to avail insurance from another is low. This further complicates the issue.

Factors governing guaranteed health plans

With guaranteed issue health plans, the insurance company is morally and legally bound to accept and insure all, irrespective of whether that person suffers from any pre existing medical condition or not. In fact, there are several States, which have legally mandated insurance companies to provide such guaranteed individual health insurance plans to all. However, the chief drawback of these plans is the cost factor, as they are more expensive than individual plans. Another factor that's important to consider is the waiting period, which some companies might insist upon.
While it is best to buy individual insurance while you are healthy, it is equally important to consider health insurance for pre existing conditions in case you are suffering from such health conditions. Despite the expensive nature of such insurance plans, it's definitely better and cheaper than bearing the medical costs on your own.

Different Types of Pre-Existing Condition Insurance

Different Types of Pre-Existing Condition Insurance

There are 2 types of pre-existing condition insurance coverage:

  • Public pre-existing condition insurance plans
  • Private pre-existing condition insurance plans

Public Insurance Plans

This type of pre-existing condition insurance coverage is normally provided by the federal government or the state government. There are times when you are not able to have health insurance from your employer, or buy Medicare and other individual plans. If you have not had insurance for more than six months, you may apply for such insurance, as you will be eligible for the public pre-existing conditions health plan. However, you will have to pay a premium every month along with co-payments. In case you can’t afford these premiums, you may apply for a Medicaid.

Remember

  • There are three types of government plans on offer.
  • Each plan gives you access to a limited number of providers listed in its network. Thus, you won’t be allowed to get treated by your preferred doctor if he/she isn’t in the network of your chosen plan.
  • Your deductibles, premiums, and co-pays will differ based on the plan you choose.
  • All plans pay for your preventive care completely.
  • These plans are temporary and costs vary according to the State where you reside.

Private Pre-Existing Conditions Health Plans

There are many genuine and fraud companies that offer these plans and the costs, level of coverage, and quality vary from one plan to the other. There are limited indemnity plans that have certain limitations of amount as well as coverage. Here, you tend to pay more to get more coverage.
Depending on the genuineness of the limited indemnity plans, your medical cards can offer you discounts on prescription drugs and health care services from certain providers and for certain treatments, which is quite similar to pre-existing insurance plans issued by the government.
Benefits

The major benefits of pre-existing condition insurance plans are:

  • They are very cost-effective.
  • They are guaranteed issue plans, which mean that you will not be refused coverage.

Conclusion

Whatever plan you choose, it is very important for you to check them for their quotes, limits, and other factors to ensure savings.

 

Requirements for Guaranteed Health Insurance

Requirements for Guaranteed Health Insurance

With thousands of people looking for financial support to pay their medical bills, a prudent solution is offered by the guaranteed health insurance plans. As the name implies, such insurance, unlike the limited indemnity plans, offer insurance to almost all people who apply. 
There may be times when you apply for medical expense reimbursement under a guaranteed health insurance plan, only to be refused. You may not be aware that you have to file a proper claim for your expenses to be compensated. The majority of insurance plans require you to submit all the supporting documents, out of which you might have missed one or two, thus ending up having a claim that’s refused. This is why you should know about the requirements of guaranteed health insurance plans to benefit from them.

Requirements for filing a successful claim

There are usually no restrictions or requirements based on which your claim would be refused. However, you should pay the monthly premiums on time along with any other additional fees that may be applicable for your policy, and file your claims the right way. Thus, the minimum requirements of filing a successful claim include:

  • Prompt payments of premiums and other payments, if any.
  • Filing your claims along with all the supporting documents.
  • Ensuring that your State or federal law permits such plans.
  • Staying in the same State where you have bought the guaranteed health insurance plan.

Benefits of guaranteed health insurance

Some of the benefits of such plans are listed below:

  • You are not refused reimbursement of your medical expenses even when they are quite high.
  • You are covered for all outpatient, operation, and hospital expenses.
  • Discounts on offer can reduce your medical care costs by up to 50%.
  • You get discounts on your prescription drugs.
  • Maximum payments are disbursed to cover lifetime occurrences of health issues.

Choosing the right plan

To select the right guaranteed health insurance plan, you should consider these factors to compare and decide:

  • lifetime per-occurrence maximum
  • deductible amount
  • benefit period
  • specific limits
  • other medical card requirements, if any

You can take your search online to get instant quotes from multiple insurance companies to compare these factors and select the plan that best suits your needs and budget.