| Many of my clients have asked me about the | | | | include a discount card |
| pros and cons of Guaranteed Issue Health | | | | Hospital Stays are restricted. Since Hospital Stays |
| Insurance. First lets look at the pros-o No | | | | are often limited to 31 days per illness or per |
| Deductibleso No Coinsuranceo Go to any doctoro | | | | calendar year, one must be willing to accept this |
| Go to any hospitalo Inpatient benefitso Outpatient | | | | limitation; however, when we learn that the |
| benefits | | | | average hospital stay is only 5 days, this may be |
| This is similar to the kind of Health Insurance your | | | | an acceptable compromise. |
| parents had. You can go to any doctor or hospital | | | | Since chemotherapy and radiation may not be |
| and the plans will pay exactly the same in every | | | | covered, it is wise to obtain a Critical Illness plan |
| case. Also called Defined Benefit plans, the | | | | or separate Cancer plan. See you agent for |
| benefits are spelled out exactly--defining benefits | | | | details. Often, coverage of $50,000-100,000 can |
| for each covered expense. There is very little | | | | be obtained. Some Critical Illness plans also pay |
| room for misinterpretation and the language is | | | | for illnesses such as Cancer, Stroke, Heart |
| generally very readable and easy to understand. | | | | Attack, Serious Burns, total loss of eyesight, |
| However, there are some weaknesses about | | | | paralysis and coma. |
| these plans you need to be aware of.o Lab | | | | Since prescription benefits are often very limited, |
| Benefits may be limitedo Hospital stay has | | | | we must look at other options. See my article on |
| limitationso Chemotherapy and radiation may not | | | | How to Save Money on Prescription Drugs. |
| be coveredo Prescription benefits often only | | | | |