Buying individual health insurance can be difficult if you have a pre existing health condition. Many health insurers will refuse to cover a person based on their medical history. This is because their business model is based on generating as much revenue as possible through premiums, while incurring fewer costs or claims. If you have been previously diagnosed with a health issue, their underwriters (rightly or wrongly) assume that you are more likely to file more expensive claims.
Fortunately, you still have somewhere to turn. Individual guaranteed issue health plans are legally required to accept all applicants. Coverage levels are usually comparable to standard individual health insurance policies, and they use the same convenient provider networks.
Since the risk pool is made up of sicker individuals, guaranteed issue plans tend to have slightly higher premiums. However, they provide peace of mind where other individual health insurance plans can’t.
