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Guaranteed issue is a term used in health insurance to describe a situation where a policy is offered to any eligible applicant without regard to health status. Often this is the result of guaranteed issue statutes regarding how health insurance may be sold, or to provide a means for people with pre-existing conditions the ability to obtain health insurance of some kind.
"Guaranteed issue rights" refers to a time when Medigap insurers can't deny you coverage based on age, gender, health status, or any preexisting conditions outside of the open enrollment period.
In the United States, health insurance marketplaces, [1] also called health exchanges, ... because all insurance plans will be "guaranteed issue" in 2014.
Prior to the Patient Protection and Affordable Care Act, effective from 2014, about 34 states offered guaranteed-issuance risk pools, which enabled individuals who are medically uninsurable through private health insurance to purchase a state-sponsored health insurance plan, usually at higher cost, with high deductibles and possibly lifetime ...
Guaranteed acceptance life insurance, also known as guaranteed issue or final expense insurance, does not require a medical exam or health questionnaire. This type of policy is designed for older ...
Guaranteed life insurance essentially means that approval is guaranteed regardless of any health issues or other risk factors. In this guide, Bankrate explores the ins and outs of guaranteed life ...
All new individual major medical health insurance policies sold to individuals and families faced new requirements. [18] The requirements took effect on January 1, 2014. They include: Guaranteed issue prohibits insurers from denying coverage to individuals because of preexisting conditions. [19]
Community rating, as a basis for premium calculation, is fundamentally different from the usual method of determining insurance premiums, i.e. risk rating. In a risk rated insurance market, an insurer calculates the premium payable by a potential policy holder in order to enter into an insurance contract on the basis of various factors particular to that individual, such as the risk of a claim ...
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