The Open Enrollment period for most health plans has ended, but if you’re healthy and don’t have coverage, or just want better coverage, there are still options available.
You might consider an annual plan, otherwise known as Short Term Medical insurance. It’s a major medical policy, often with $1 million in coverage, available with or without copays and deductibles as low as $1000. There are pros and cons to this option so let me explain:
Pros: The premium for most STM plans are significantly cheaper than ACA plans at full price. The doctor networks are usually much better and they are PPO plans.
Cons: Some who take the STM plan may still pay an extra tax for not having ACA coverage. The plans do not cover preexisting conditions nor pregnancy and some preexisting conditions can cause a denial of coverage.
That said, many people find that the savings in premium save money at the end of the year even with the extra tax. These plans are a great way for some people to keep their doctor and get excellent coverage year after year, or at least until Open Enrollment begins again later this year.
Call me. I’d be happy to discuss whether a Short Term Medical plan is right for you.