Short Term Health Plans
Short Term Health Plans: the lower cost alternative to ObamaCare.
With ObamaCare premiums spiraling out of control, and with the entire future of the program veiled in uncertainty, many of our clients are turning to much lower cost Short Term Health Plans. It is important to note:
SHORT TERM HEALTH PLANS DO NOT MEET THE MINIMUM ESSENTIAL REQUIREMENTS GUIDELINES OF THE AFFORDABLE CARE ACT (OBAMACARE) AND MAY BE SUBJECT TO A TAX PENALTY.
Many of our clients still find that the cost of a Short Term Plan plus the ObamaCare Penalty is still much less expensive (70% less) than enrolling in a Marketplace Plan.
Short Term Health is not for everyone, but if you didn’t enroll in an ObamaCare plan, then it may be your only way to protect your family from life’s unexpectedMedical emergencies.
What’s the Difference? Short Term Insurance Plans Versus ACA Insurance Plans
| Short Term Health Insurance Plans | ACA Health Insurance Plans | |
|---|---|---|
| Availability of coverage? | As early as the next day after you apply. | Apply during Open Enrollment (or during a Special Enrollment with a qualifying event) for coverage beginning in 2-6 weeks. |
| Type of coverage? | Comprehensive medical insurance coverage. Coverage varies by plan, and plans are NOT required to include the 10 essential health benefits required by the ACA. | Comprehensive medical insurance coverage. All plans include the 10 essential health benefits required by the ACA. |
| Monthly costs? | Significantly less than ACA health plans (up to 70% less) but you may also be subject to a tax penalty. | Generally more expensive than Short Term health plans, but tax subsidies may reduce your costs. |
| Is preventive care included? | Preventive care coverage, if included, is limited. | Yes. Preventive care is one of the 10 essential health benefits required in all ACA health plans. |
| Rx drug coverage? | Available with some plans. | Yes. All ACA plans have Rx drug coverage. |
| Are referrals required? | No primary care physician/specialist referrals are required. | Some plans require referrals. |
| Is there coverage for preexisting conditions? | No. You must be approved for coverage, and there is no preexisting condition coverage. Previously covered conditions will be considered preexisting under subsequent policies. | Yes. ACA plans are guarantee issue, meaning you cannot be turned down for coverage and your preexisting conditions would be covered. |
To find out if Short Term Health Plans are right for you fill out the form below: