A Solution to ObamaCare Rate Hikes? Do the Math with Us.
November 1st marks the beginning of open enrollment for the Affordable Care Act (ACA) Marketplace. Millions of Americans without employer-sponsored health insurance will go online to find affordable individual and family coverage from a wide variety of insurance providers with various premium, deductible and co-insurance options. Or will they?
We’ve all seen the news; almost three years into the launch of the ACA, insurance providers have been dropping out of the ACA Marketplace left and right. Unable to turn a profit, many insurers have hiked premiums, reduced coverage and raised deductibles. For some, the solution seems to stop offering plans altogether.
So much for “affordable” healthcare.In some states, like Arizona where Insurance Services of America is headquartered, citizens buying insurance from the Marketplace who don’t qualify for government subsidies could see premiums increase by as much as 116%. Coupled with severely reduced options—only two Marketplace insurers remain in Maricopa County, Arizona’s most populous county—many people are feeling the pressure to find an alternative.
Could a short-term major medical plan be a solution for you and your family? Let’s find out.
So, what is a short-term medical plan? “Short-term insurance provides temporary coverage when you’re between jobs, looking for work, not yet eligible for Medicare, or simply can’t afford or qualify for a standard ACA (ObamaCare) major medical plan.”
Short-term medical insurance plans can be purchased month-to-month or up to a year, depending on the plan. They are available for individuals, families and sometimes for just a family’s child(ren). It’s important to know that short-term plans are not ACA-compliant; they don’t cover pre-existing conditions, maternity or wellness benefits, for example, which means purchasing them will not help you avoid the penalty for not buying an ACA-approved plan.
However, we encourage you to “do the math” with one of our friendly Client Advisors. The monthly premiums for these plans could save you hundreds if not thousands of dollars a year compared to an ACA-approved plan from the Marketplace. Yes, a penalty fee may apply, but add that fee to your short-term plan premium and deductible—some as low as $100 per person!—and the total could be far less than you think.
When you work with one of our Client Advisors, our goal is to help you find a major medical insurance solution you can take confidence in. It’s well worth a short conversation to find out if one of these plans is the solution to a severe rate hike in your current insurance plan.
Call us today at (800) 647-4589 or email our office in Arizona – [email protected]. and we will provide with a no obligation, low cost quote.