Guaranteed Issue Rights
Guaranteed issue rights – rights provided in certain circumstances when insurance providers are required by law to offer a plan. Guaranteed issue rights provide guaranteed acceptance into selected plans available in each state, and a retiree can’t be charged more for a past or present health problem. The policy must cover any pre-existing conditions, without a waiting period.
Guaranteed Issue rights, along with guaranteed renewability, make Medicare supplement plans a secure choice for supplemental health coverage. Coverage can only be terminated for non-payment of premium, or material misrepresentations made on an application.
From 2012 to 2016, the national annual base rate increase has been 2.6%* on average. Along with the guaranteed renewability and issue rights, there’s little room for surprises with a Medicare supplement plan.