In a guaranteed renewable health policy, can the company increase premiums?

In a guaranteed renewable health policy, the insurer can increase premiums, but this is limited to an entire class of insureds. This means that while your individual premium may not be raised based on your specific circumstances or claims history, the insurance company can adjust premiums for all policyholders within the same class or group during a renewal period.

This characteristic of guaranteed renewable policies ensures that while the insurance company cannot deny renewal and must continue coverage regardless of changes in health status, they retain the ability to adjust pricing across a broader category of policyholders to account for overall loss experience or other significant financial considerations.

The nuances of these policies highlight the importance of understanding how premium adjustments can occur in health insurance without discrimination against individual insureds, striking a balance between consumer protection and the insurer's need to maintain financial stability.