This is a "Bear Necessity" we wish did not have to exist. It's a fact of life post Guaranteed Insurable Window... This may be a fun fact for all us numbers people. Medical insurance premiums are based on actuarial data. What in the whole wide wellness world is that? It's basically health claims of all the people in a certain plan over a set period of time converted magically into numbers that influence how much we pay for insurance. I told you it was a fun fact. What makes it a little less fun for the actuaries determining these numbers is the golden ticket or guaranteed insurable window that we all have when we turn 65. Your window means no one can turn you down or charge you more or make you wait to be covered based on health past, present, or potential future.
Like Willy Wonka, we only get one golden ticket. Post golden ticket, regardless of enrollment times, Medical Underwriting can be used to determine your acceptance, premiums, or waiting period for pre-existing conditions. Different companies have different questions and none of these are technically standardized. In a few states plans with no or limited underwriting may exist, but in many that choice goes away with your golden ticket.
I have had the heartache of discussing rejection for coverage based on medical underwriting and it is a heavy blow for my Mama Bear heart any time it happens. Usually I can find something that will work, but it is not always what would be the absolute best for that client. Thankfully I have also had many opportunities to help people going through very expensive chemotherapy, dialysis, even hospice purchase immediate comprehensive coverage without any underwriting because of their golden ticket. Through the years I've seen many things, y'all. I have held hands with dear cancer patients to select coverage, heard financial claims personnel at the treatment center say: "Don't let anyone talk you into changing this coverage." I've seen bills get paid completely on day one and I have seen people survive and thrive beyond cancer in financial tact. I have also seen financial devastation caused by one diagnosis.
We can live, y'all. There are so many things we can absolutely outlive, we just have to be able to afford it. When we first become eligible for Medicare, we can plan for "come what may" and always have enough.
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