Guaranteed Acceptance Health Care Plans

The key benefit of Guaranteed Acceptance extended heath care plans will cover any pre-existing medical conditions you may have, and you can apply at any time.

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This is beneficial for those who have health history that may result in exclusions, or even potentially being declined for coverage if applying for a Medically Underwritten plan, as well as those who are outside the 60-90 day window for applying for a Guaranteed Issue plan.

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The 'caveat' to a Guaranteed Acceptance plan, is that the insurer tends to assume that anyone applying for this type of plan is unable to qualify for the other plan types, and for that reason will design the plans (for both profitability and sustainability reasons) to offer lowest amounts of coverage at a higher relative cost.

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Guaranteed Acceptance plans are a valuable option for those who can't otherwise get health care coverage, but from a best-practice standpoint are generally used once it's been determined that the other plan options aren't suitable.

It depends on the type of plan.

• For Guaranteed Issue and Guaranteed Acceptance plans, your coverage will be effective on the 1st of the next month after an application and payment is received.
• For Medically Underwritten plans, your coverage coverage will be effective on the 1st of the next month after an application has been approved (subject to qualifying medically) and payment is received.
• Medically Underwritten plans can sometimes take longer as the insurance company usually needs to obtain records from your attending physician(s). Average time to approval tends to be about 3-weeks. If the insurance company has difficulty obtaining the medical records from your attending physician(s) this may take additional time.