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Guaranteed issue is a term generally used in the field of health insurance sector to elucidate or to describe a situation where a health insurance plan or policy is offered to an eligible customer or applicant without regard or considering the health status.
What is guaranteed issue under Obama care?
Previously, prior to the advent of the Obama care health reforms the individual health insurance the one which is not obtained through an employer and which is to be purchased on own from the marketplace was not guaranteed by the health insurance service provider. In most states, the applicant’s eligibility was based on his or her medical history. But after the advent of the Obama care or the Affordable Care law in the year 2014 the health insurance market condition changed. At current, scenario all individual market health insurance plans in almost every state are now a guaranteed issue. After Obama care medical status or medical history of an applicant has no longer remained a factor or element in the eligibility process. But at present, the enrollment period is now limited to only one annual enrollment period known as Open Enrollment Period or Special Enrollment Period. But before 2014 an applicant could apply for the individual marketplace at any point in time.
Can you be denied health insurance at any time?
Under the Affordable Care Act or Obama care an applicant or customer cannot be denied medical insurance based on age, gender, medical history or for any other reason or factors. And this basically happens because health insurance is a guaranteed issue under the health care law. But for certain important factors, a person can be charged extra bucks although the law makes provision for the limitation of the expenditure as well.
Since the year 2010, after passing of the Patient Protection and Affordable Care law it has been illegal for any health insurance service providing company to deny any eligible citizen health coverage for any reason.
The purpose of guaranteed issue in the health insurance sector.
The main purpose or reason for implementing guaranteed issue along with the Affordable Care Act in the health insurance sector is to end discrimination against those who need or require a medical insurance the most.
When did a health insurance become a guaranteed issue?
Since the signing of the Affordable Care Act by President Barak Obama made health insurance service a guaranteed issue. After passing of its final provisions in the year 2014 health insurance service became a guaranteed issue and made it mandatory in order to provide medical insurance to every eligible US residents.
The Affordable Care Act indeed helped a lot to change the overall medical or health care scenario of the United States of America. The law with its unique and striking provisions made health insurance a mandatory element for every citizen of the country. And this increased the number of insurance holder in the country and helped the citizens to avail medical treatment at an affordable cost.