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What is the difference between medically underwritten and guaranteed coverage?
Wiki User
∙ 15y ago
Medically underwritten coverage requires a questionaire, in which case pre-existing conditions may not be covered. Guaranteed issue is like an "existing medical condition blind" policy. It may have less coverage, and cost more, because the insurer is taking a bigger chance on the individual applicant.
Wiki User
∙ 15y ago
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Is an insurance company required to provide health insurance to an individual?
That depends on where you live and what kind of coverage you are looking for. In almost all circumstances an insurance company can not refuse to cover an employee on a company plan. If you are looking for individual coverage then it will depend on if your state guarantees coverage. While it is nice to have coverage guaranteed for all, it is almost always more expensive in those states. Here in CA individual coverage is fully underwritten, meaning you can be denied. Consequently, those they do cover they can do so for less. If you are in an underwritten state and are declined check to see if there is a state high risk pool you can join. If not, look at a guaranteed acceptance defined benefit plan. If you need help please let me know (critmark@garlic.com).
Can you buy medical insurance if you were diagnoised with MS in the past 3 years but have no symptoms?
Most likely the MS would render you ineligible for medically underwritten plans, check with the certain companies to be sure. Be up front with the agent about your MS condition to save yourself the time of going through the application process. The agent cannot deny coverage but they can tell you whether or not you are eligible. Also, do a search on "Guaranteed Issue" plans in your state.
Is there a life insurance company that will cover you regardless of your health?
There are some insurance carriers that will issue coverage regardless of your health. Most guarantee issue life policies come with waiting periods, though. For example, let's say you buy a policy on the life of your father that has terminal cancer. The policy may not pay a death benefit for 3 years. This is in contrast to an underwritten plan that pays a death benefit after it is issued. Another difference between guaranteed issue policies and an underwritten plan is that most guaranteed issue policies are high priced-low death benefit (less risk for the carrier) whole life policies. So while guarantee issue policies have their use for many people, there are significant differences between them and underwritten plans.
Does Guaranteed Coverage mean guaranteed to anyone regardless of lack of coverage in the past and immigration status?
It means guaranteed if you meet the "qualifications." m is guaranteed IF you have been denied in the private market, resident - Mr. Mip doesn't ask immigration status, can't be eligible for Medicare, can't be eligible for COBRA, If you're talking about Group Coverage - I've never seen immigration status come up, lack of coverage in the past is not an issue to get coverage. It might be if the new policy has a pre-x clause, as prior coverage counts.
What should I ask before obtaining a guaranteed issue coverage?
You should ask what the benefits are, what is covered, the amount of premiums. Typically guaranteed issue coverage has a higher premium than other type of coverage. Also ask if it is a temporary ot permenant coverage.
Can you be denied coverage for gastric bypass if it is medically necessary?
AnswerIt depends on the terms of the insurance. Read the coverage document to determine if it specifically covers the procedure in question.ANSWERIf it is deemed medically necessary & your insurance co turns you down you have every right to appeal their decision!AnswerIf its an exclusion of the policy then it doesn't matter if its medically necessary or not.
What Happens when a policy is surrender for it's cash value?
Coverage ends. If you wish to reinstate it, you must reapply to the insurer and be re-underwritten inder current inderwriting guidelines.
What is Guaranteed issue life insurance?
Guaranteed issue life insurance is life insurance that is guaranteed acceptance. That means if you apply you are guaranteed to be accepted for life insurance coverage. However, you usually have to be a certain, like 45-75. Also, the amount of coverage is not fully available until 1-2 years after you own the policy - this is called graded benefit life insurance.
What should I consider when purchasing a guaranteed life insurance package?
When purchasing guaranteed life insurance, you should consider whether you want to purchase guaranteed whole life or guaranteed term life. Benefits and coverage never change with guaranteed whole life. Guaranteed term life has lower premium, can be used to pay off high debt and no medical exam is needed. In addition, when purchasing guaranteed life insurance there is a waiting period before you receive full coverage, and you’re covered for a specific time period.
Is a person guaranteed media coverage in a trial?
Hardly, as the media is rarely or never unbiased in their coverage.
Does medicaid cover having a water birth?
Medicaid is administered by the States and therefore coverage varies somewhat. However, in general, Medicaid coverage is limited to goods and services that are medically essential to diagnose, prevent or treat disease. It seems unlikely that water birth would be considered medically essential for most patients.
What is the relationship between medical necessity and insurance coverage?
If a procedure is not considered "medically necessary" (i.e. is considered elective), most insurance companies will not pay for the procedure, or will provide only minimal coverage
