Guaranteed Issue Coverage

Jul 21, 2008

  1. joshril
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    joshril Guru

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    Are any of these worth it?

    I have been approached by clients and agents about it...

    Any thoughts?
     
    joshril, Jul 21, 2008
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  2. Invain15
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    Invain15 Super Genius

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    You have to be very careful with these plans because they can end up being an E&O nightmare. When I sell them I let all of the individuals know that they are applying for limited coverage and even have them sign a form stating that all of the limitations were explained throughly in case they end up getting client amnesia when it comes time for them to pay a big medical bill.
     
    Invain15, Jul 21, 2008
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  3. joshril
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    joshril Guru

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    I'm aware of all that... my concern is HIPAA compliance... I have contract paperwork sitting in my inbox and a couple of carriers and I wondered if anyone has any insight on plans approved by the DOI in TX?

    Sorry... just being lazy and trying to milk off of someone's prior research. (How's that for due diligence?)
     
    joshril, Jul 21, 2008
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  4. Guest
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    Guest Guest

    Are you talking GI or "guaranteed acceptance?" As in a mini med or indemnity type plan?
     
    Guest, Jul 22, 2008
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  5. joshril
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    joshril Guru

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    joshril, Jul 22, 2008
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  6. Guest
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    Guest Guest

    This is not major medical, the brochure clearly states this. Declines include over 65, workman's comp
    & disability, but that's it as it's a limited medical, not major medical. For what it is, it's not bad. The no pre x/prior coverage feature is good along with the Medicare/RBRVS* benefit is nice also.
     
    Guest, Jul 22, 2008
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  7. Guest
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    Guest Guest

    Guaranteed issue is still misleading in this case.

    This is from the site.

    ***This is a Limited Benefit Plan and may not cover all medical expenses for an illness or injury once the maximum plan payment limits per covered person, per calendar year are reached.***

    This policy has a pre-existing conditions limitation. Pre-existing conditions are not covered until the policy has been in effect for more than 12 months. A pre-existing condition is any condition you have now or had within a 12 month period prior to the effective date of coverage for each covered person. The A.I.M. Health Solutions Plan is HIPAA compliant. Persons who leave the plan will receive a HIPAA Certificate of Credible Coverage. Those who enter the plan presenting a Certificate of Credible Coverage will receive credit toward this plan’s pre-existing conditions limitation.
     
    Guest, Jul 22, 2008
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  8. moonlightandmargaritas
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    moonlightandmargaritas Guru

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    Lots of info about this plan...suggest a forum search for further enlightenment.
     
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