Today millions of Americans are unable to afford the rising cost of healthcare. Additionally, millions more cannot qualify for healthcare benefits due to pre existing conditions that make them uninsurable. These issues of affordability and eligibility are major roadblocks facing Americans as they attempt to secure quality healthcare.
One choice that is available to these individuals is Guaranteed Acceptance Health Insurance. Follow along as we discuss some important aspects of this type of health care coverage and see if it is right for you.
What is Guaranteed Acceptance Health Insurance?
It is health insurance that is guaranteed issue, meaning no one is turned down for healthcare coverage. It simply refers to health insurance that has no medical underwriting. A policy will be issued even if you have pre existing conditions. There are no medical questions, no height/weight requirements and no physical exams needed to qualify. You choose your medical provider and the plan pays regardless of any other insurance coverage.
Who needs this type of health insurance?
It is ideal for those individuals who find they cannot qualify for or afford other health care plans. Those diagnosed with a preexisting condition such as heart disease, heart attack, diabetes, cancer, stroke, liver disease, AIDS, pregnancy, depression and kidney disease will most certainly find this a good choice. However, if you are healthy, it’s probably best to buy a traditional health insurance policy.
What does this insurance cover?
Known as a “mini-med” plan, these plans provide a considerable amount of healthcare coverage. They are affordable and cover most pre existing conditions after 12 months. These plans are not basic health insurance or major medical coverage but offer what is known as “limited benefit health insurance”. Simply put, the plan pays a defined amount for a medical service or procedure. Usually covered are doctor visits, emergency room visits, hospital charges, surgery, accidental death, etc.
How much does it cost?
These plans offer a wide range of premiums depending upon the type of plan selected and if the coverage will be for an individual, an individual plus spouse, individual plus child(ren) or for the entire family.
Are there other healthcare plans that will work for me?
Sure there are other options you might pursue. Group health insurance is a possibility but will require an employer sponsored plan or you could join a professional organization which offers a healthcare plan to its membership. This may not always be possible.
You may be able to obtain individual health insurance with some pre existing conditions but most likely the insurance company will want to totally exclude most preexisting conditions. State high risk pools offer an alternative solution but certain requirements must be met and the premiums can be very expensive. For individuals with pre-existing conditions, a guaranteed acceptance health policy may still be your best option.
Is Guaranteed Acceptance Health Insurance right for you?
Remember these types of plans are generally for someone who cannot obtain traditional health insurance due to medical reasons or wants coverage for the pre-existing conditions.