Guaranteed Issue Health: Out Of Debt Danger
There is no guarantee to your lifetime existence. Instead you will only be assured that when there is a need to save your life, you will not end up buried in debts because of your medical bills.
In fact, millions of people are faced with the increasing cost of health care and they are at a loss on how to prevent acquiring any loans if not losing their investments and properties because of their illness. One of these life-threatening illnesses is cancer and health insurance companies are allergic to this because it is expensive, so that they disqualify those who have this ailment.
Obviously, the danger of future debts due to medical reasons is right in your horizons if you fail to have a guaranteed issue health policy. For low and middle-income earners, the situation is more discouraging because of expensive health plans offered in the market. Those who just got unemployed or have retired are also facing the same dilemma because of the absence of an employer’s counterpart in availing a health plan.
The stakes are higher though to those individuals who have pre-existing conditions such as depression, heart ailment, pregnancy diabetes, AIDS, and stroke among others. More than half of health insurance companies decline any individual to avail of their programs if found to have pre-existing illness or have changed their employment status.
Under the Health Insurance Portability and Accountability Act of 1996 (HIPAA), it determined that health insurance carriers may or may not provide any health insurance to clients with current ailments. The said law defines pre-existing conditions as a physical or mental condition for which medical advice diagnosis care or treatment was recommended or received within six months period ending on the enrollment date. Furthermore, they scan also exclude people who have been without coverage for 63 days from a policy. It is truly a depressing scenario as people are helpless and cannot be proactive in this kind of situation because of the limited health coverage.
Thankfully, a guaranteed issue health becomes handy and helpful as a client is not refused insurance on the grounds of a pre-existing health condition or employment status. On the cost of this type of plan, individuals can choose their specific package that can sufficiently cover any future costs due to their pre-existing illness.
A medical doctor can be of assistance to them at this stage, who can identify any future illnesses that may develop out of the existing ones. It would also give a clear idea of what type of coverage is only needed without spending for some type of illness that is not found in one’s medical history. With a guaranteed issue health, you are in control of the situation and are not afraid of sky-rocketing prices of medical services and treatments. It only takes a little research on your part to ensure that your health insurance company is genuinely offering you the right health package to avoid any possible huge healthcare expenses that can totally drain your savings and even your future earnings.
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