Looking for Emergency Coverage with a Lower Cost for 2018?
Many of you may have heard that BCBS has announced they are pulling their individual medical plans starting 1-1-2018 from all counties in Georgia, except 85 rural counties. With this news, Georgia will have very limited options for family coverage starting in 2018.
With that said, I wanted to let you know that a short term medical plan may be a viable option for many families, until a more permanent solution is available. They basically offer emergency coverage with a lower cost. It turns out that is what a lot of people are looking for these days. However, short term plans do have their limitations and are not for everyone. Short term plans are not ACA qualified plans therefore they do not meet the Minimum Essential Coverage required by the ACA. That means they do not exempt you from paying the tax penalty for going without a qualified health plan for more than 2 months. And they do not cover pre-existing conditions nor preventive care. But if you are looking for a lower cost option to cover you, in the event of an emergency, then this type of plan may be the answer you are looking for.
With government regulation limiting short-term medical insurance to a 3-month term, there has been great concern about lingering or catastrophic health issues that occur during the policy, but with symptoms and treatments that extend beyond the policy’s limited term. Previously, when reapplying for STM coverage, this condition would be considered pre-existing on all subsequent policies, but not anymore… Our carrier has created an elegant solution to remove pre-ex between multiple policies. They have now established a retro or pre-existing date that will remain constant through 3 consecutive policy terms, allowing up to 9 months of coverage before the pre-ex resets. Now, there are no longer concerns about securing temporary coverage for at least 9 months’ worth of coverage.
This added benefit is currently available with the Short Term Medical plan at no added cost and requires no special enrollment. A further complement is that the carrier will automatically apply this benefit to existing 3 month policies when the client reapplies for a second term. The benefit will only be available if the policy holder reapplies through the link that is sent by the carrier at policy end date.
We are very pleased with this big development and the continued importance and viability of this Short Term Medical plan as the best temporary medical solution on the market. Call Terri for details at 770-452-9335.