Short-Term Medical Plans
Notice: Unfortunately, as of August 2018 Gov. Brown banned Short Term Medical plans in California. That doesn’t mean you don’t have any relief from sky high Obamacare premiums.
While STM plans have been banned in CA, health sharing ministries are available.
A health sharing ministry with AlieraCare may be just the answer you’ve been looking for.
Aliera offers basic solutions starting at only $69.00 a month regardless of your income level. Comprehensive health plans start at $156 a month.
IMPORTANT: Recent federal changes allow Short Term Medical plans to offer up to 12 months of coverage starting Oct1st 2018. Gov. Brown has circumvented the relief for many Californians and banned all STM in the state.
STM with National General or IHC Health solutions can provide affordable coverage when your unable to enroll in an ACA compliant plan or you are looking for an alternative to Obamacare.
What is Short Term Medical Insurance?
STM insurance is designed to fit a short-term period; However, recent federal changes have made it possible for Short Term Plans to offer up to 12 month period. Short-Term Medical plans are designed to keep you from a major financial hardship should you have an unexpected injury or illness. There are big differences between Major Medical and Short Term Medical plans, especially since the ACA rules went into effect.
What Short Term Medical Insurance isn’t
Typically it isn’t a long-term solution because of pre-exising condition rules. The plans do not conform to ACA regulation and are not required to follow many of the guidelines. Most STM plans exclude pre-existing conditions from coverage and they are medically underwritten (not everyone will qualify). It does NOT provide essential minimum coverage according to the ACA rules and will not prevent you from having a tax penalty at the end of the year. The tax penalty for not having health insurance will go away at the end of 2018.
What is a Pre-existing Condition?
It sounds pretty straight forward, any condition that existed before your plan is effective. Most Short-Term Medical plans exclude any condition you’re diagnosed within the last 5 years and possibly UN-diagnosed. For example, if you have already been diagnosed as having high blood pressure, it would be reasonably understood that any care related to the treatment of high blood pressure wouldn’t be covered. However, what isn’t commonly understood is anything related to the condition may not be covered under the pre-existing exclusion. For example, if the same person who has high Bp later has a heart attack it is highly likely that the heart attack may not be covered. Similarly, if someone had cancer 4 years ago but has been in remission, signs up for coverage, and has a relapse it would likely be considered a preexisting condition. Ultimately, the determination is made by the doctors treating you and is subject to review by the carrier.
Many employers have waiting periods of 90 days or more to enroll in group coverage. However, illnesses and injuries wait for no one! A Short Term Medical plan can keep you protected from unlimited and unmanageable medical expenses.
COBRA Becoming Unaffordable
Sometimes job searches can last longer than initially expected. Once you have enrolled in COBRA you cannot apply for a lower cost Individual or Family Plan unless it’s Open Enrollment. Once your COBRA expires after 18 months you will have a special enrollment period available. If you can no longer afford the COBRA payments you may have to go without coverage. Short Term Medical can help provide coverage during these times as well.
Missed Open Enrollment or Special Enrollment Period
Individual Health Medial Plans are only available during annual open enrollment, or for a 60 day period for special exceptions. Missing it means you have to wait for the next annual open enrollment. A Short Term Medical plan can bridge that gap.
Missed Initial Medicare Enrollment Period
Countless Medicare eligible people miss their Initial Enrollment Period. For many people this means going without insurance for a long as 15 months. If you are one of them a Short Term Medical Plan can help.
Note: For those over 65 please see the Petersen International (Lloyd’s of London) Bridge Plan.
For those under 65 see the IHC Coverage or National General link.