UPDATED: Mar 19, 2020
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In health insurance, guaranteed issue has been available for many years. Employer health plans normally included guaranteed issue coverage, with only individual or private plans denying coverage for preexisting conditions. As the Affordable Care Act goes into effect, one of the new changes will be to require all health insurance providers to accept preexisting conditions.
What is Guaranteed Issue Health Insurance?
Guaranteed issue health insurance is a type of health insurance plan, traditionally group plans available through employer participation, which guaranteed acceptance of any qualified applicant
without regard to any preexisting conditions the applicant might have. For those with diabetes or asthma, guaranteed issue coverage meant they were able to get health coverage which might otherwise
have been unavailable. Group plans offered through memberships such as the AARP or AAA are guaranteed issue health plans.
Where is Guaranteed Issue Coverage Available?
If your employer offers a health plan, you will be eligible to have guaranteed issue coverage when you are eligible for enrollment. If you choose to join a group health plan through some other
organization, you may pay higher rates, but you can also have coverage for your existing medical needs. Between now and 2014, more and more health insurance companies will make guaranteed issue
When Does the ACA Become Effective?
The different parameters of the Affordable Care Act, or ACA, will become effective at different times. Some options, such as allowing children
to remain on the health coverage of their parent until age 26, went into law immediately. The requirement that guarantee issue health coverage is available from all health insurers is not mandatory
until January first, 2014. However, many insurance companies are already making the switch, so you may find that getting guaranteed issue health insurance is easier than you thought it could be.
Shopping for Guaranteed Issue Coverage
With a preference given to companies that offer guaranteed issue health insurance, compare rates online, taking note of the differences in the policies. Check ratings from A.M. Best Company or similar agencies o get an idea of the financial status of companies which rank highest on your list. Financial ranking helps you
understand the financial position of the insurance company, including how well they are doing today and what the company’s long term outlook is expected to be. Starting with a strong company can
lead to a long and positive interaction.