5
Minute Guide to Guaranteed Issue
Health Insurance Plans
If you
have found your way to this web site, chances are that you are
having a very difficult time of finding health insurance. We can
offer you a variety of guaranteed issue health insurance plans
that you can obtain regardless of your present medical condition.
Please take 5 minutes (or less) to look over this simple guide
to our plans. It will hopefully answer a lot of your questions.
Afterwards, give us a call and we will clear up any remaining
confusion.
Reach
us at 800-272-0512 Mon - Thurs 9 AM - 8 PM EST and Friday until
6 PM
Table
of Contents:
Guaranteed
Issue Health Insurance versus Non-Guaranteed Issue
Guaranteed
issue simply means that the health insurance policy will be issued
regardless of your medical conditions. There is no underwriting
and there are no medical questions on the application.
With traditional
health insurance, there are a series of medical questions that
you are asked prior to the issuance of a health insurance policy.
They can deny coverage based on your answers. With most of our
plans, your current or past medical conditions cannot be used
to deny coverage.
Keep in
mind, that even if a traditional health insurance plan accepts
you, they might not cover your pre-existing conditions. If you
have had 12 months of prior coverage without any breaks of more
than 63 days, the guaranteed issue plans will cover your prior
health conditions. You will get credit for the time you had coverage
if it is less than 12 months.
Many of you are under the impression that if you have had health insurance and get a "certificate" you are guaranteed coverage. This is not true. If you are applying for a private as opposed to a group health insurance plan, they do not have to accept you. It does not matter how many certificates you have.
Do
I need a guaranteed issue health insurance plan?
If you
are reasonably healthy and your current medical conditions are
well controlled, you could most likely qualify for a traditional
health insurance plan and do not need to have a guaranteed issue
plan. We have spoken to individuals who were declined by one carrier,
yet we knew they would be accepted by another. If you call us,
we have a fairly comprehensive knowledge of underwriting standards
and will give you an assessment as to whether you need a guaranteed
plan or not.
Your definition
of healthy and the insurance company's definition might differ.
If you had bypass surgery 10 years ago and now can run a marathon,
you will still be uninsurable by traditional carriers. Although,
we would be glad to issue you a policy.
If you
are medically uninsurable, then you most certainly need a guaranteed
issue plan and we will help you determine which plan best suits
your needs and your budget.
Sometimes,
a carrier is willing to issue a "regular" health insurance
policy but will permanently exclude your pre-existing medical
conditions. Depending on the nature of these exclusions, you still
might want a guaranteed issue plan. After all, you do not want
to get into a protracted legal battle because a carrier would
not cover a heart attack, or cancer by claiming it was related
to your "excluded" condition.
In other
instances, a policy might be issued without exclusions, but the
premium is increased to an astronomical figure. Once again, a
guaranteed issue plan might be the best alternative.
You need health insurance and we offer you a way to obtain it.
What
about COBRA, HIPAA or State-Sponsored plans? Will these work for
me?
COBRA
is a continuation of your group health insurance plan. It generally
lasts for 18 months. Sometimes COBRA is cost effective and sometimes
it is not. In either instance, it will only last for a limited
time period.
HIPAA
plans are sometimes referred to as continuation plans. You must
first use up your COBRA before you are eligible for a HIPAA plan.
HIPAA
plans are very expensive and continue to go up a substantial amount
each year. You can easily find yourself paying thousands per month.
Our plans are an excellent alternative.
There
are certain states that have "pools" for health insurance.
Again, these plans are expensive and are rapidly disappearing
as participants are moved off of them and on to Medicaid. The
problem is, the income requirements for Medicaid are so low, very
few of you will qualify.
COBRA,
HIPAA and State Pools can be very expensive. Our guaranteed issue
plans could lower your premium by thousands per year.
Is
this real health insurance plan or a discount plan?
We do
not sell discount plans. All of our plans are "real"
health insurance and sold only by licensed health insurance agents.
We have
more than one guaranteed issue health insurance plan with a variety
of coverage options. But, in all instances, there is a legitimate
insurance company behind it.
Discount plans are generally a waste of money and give you a false
sense of security. Many states are clamping down on these plans
and the individuals who sell them are starting to crawl back into
the hole in the ground from which they emerged.
Why
would anyone give me health insurance if I have a medical problem?
That is
an excellent question with a somewhat complicated answer. However,
I am going to try to give you a simplified version.
The indemnity
plans we offer have either defined benefits or maximum annual
payout for claims.
In the
case of a defined benefit, the insurer knows what their maximum
exposure is. If they pay $1,000 a day for a hospital, they know
the limits of their liability. A traditional company has virtually
unlimited liability. In the case of a serious illness, they can
pay out millions in claims. Although, most claims are less than
$10,000, they still impose strict underwriting standards.
Mini-medicals
plans, defined benefit/indemnity plans - A fast and simple explanation
please
All of
these plans can get confusing.
An indemnity plan, defined benefit plan and mini-medical plan are all really the same thing. Mini-medical is a made up
name for a plan that has less coverage than a major medical plan. There is no accepted universal definition. So, please be careful when someone says they have a "mini medical" plan.
We offer
a number of indemnity/defined benefit plans with varying benefit
levels. Again, I am not going to keep repeating the term "mini-medical", it is exactly the same thing as an indemnity plan or a defined benefit plan or a limited benefit plan.
A defined
benefit plan is sometimes referred to as an indemnity plan. That
means that it pays you (or the provider) a fixed amount (defined
amount) for a medical expense.
For example, if the plan pays $1,000 a day for the hospital, that is the defined benefit. They do not care where you go, why, who you see, what they do to you or what it costs. They are telling in advance that they will pay exactly $1,000 a day for hospitalization.
You just
have to keep in mind that a limited benefit, indemnity or mini
medical plan is a health insurance plan with limited coverage.
That does not mean that they will not provide adequate coverage
for 99% of the population.
Will
I have copays and access to a large network of providers?
All of
our plans offer you access to large national PPO networks. You
will always be entitled to the network rate for all of your medical
expenses. The network discounts are usable even after the plan
benefits are used up. This alone can be a dramatic savings.
Some of our plans have an actual co-pay for office visits and some pay you or the provider a fixed dollar amount.
Truthfully,
will these plans cover all of my expenses?
Only 7% of population spend 1 night in hospital and less than 1% spend a night in the hospital on two separate occasions. The average retail cost is $1371; with PPO network, the cost is $960. So, the
limits of the mini-med or defined benefit/indemnity plan will
meet the average person's needs.
A guaranteed
issue health insurance plan might be the only coverage available
to you. You should not go without any coverage at all if you can
help it. Do not dismiss any of these plans without investigating
them carefully.
I always
recommend you calling me to discuss your situation. My number
is 800-272-0512.
Can
I pay for insurance through my business? Can it be offered to
employees?
Yes, you
can have a business billed for these plans and any of them can
be offered as a voluntary or non-voluntary group plan.
What
do you mean by HIPAA qualified plans?
With the new healthcare bill, two things will happen.
The first is that premiums for traditional major medical plans will go through the roof. This is all part of the concept of taking from those who have and giving it to those who do not have.
The second thing is that limited style benefit plans will not be HIPAA compliant. I do not care how many stickers people put on their websites. They will not be considered "credible coverage" and not count as having health insurance if you change plans.
What
do you mean by "stacking" health plans? How does it
give me more coverage?
By stacking,
we simply mean purchasing more than one plan and combining their
coverage.
Do
the plans cover maternity?
Most of our plans cover maternity. The only requirement is that
you are not pregnant when you obtain the insurance. There is no
waiting period for the maternity benefits. We actually have one plan that will accept someone who is up to 8 weeks pregnant.
A
number of your plans have critical illness riders. What do these
plans do?
A critical
illness plan pays you a lump sum amount in the event that you
suffer a heart attack, life-threatening cancer, stroke, kidney
failure as well as a number of other illnesses.
I
need guaranteed issue health insurance. What are my next steps?
I recommend
you give me a call. If you have a chance, look at the plan detail
pages beforehand. Once you read through my web site, you will
be armed with enough information for us to work together and figure
out a strategy.
We can
be reached Mon - Thurs from 9 AM to 8 PM EST and on Fridays until
6 PM. Leave a message if you cannot reach us. We generally get
back to you in 24 hours or less. Or Click
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Call
us at 800-272-0512 (9 AM to 9 PM EST) |
