I found this great article on Consumer Reports regarding “health insurance alternatives.”
I have this conversation multiple times a week with clients:
There is no magic alternative to health insurance regulated by the Affordable Care Act: Obamacare. No other products offer immediate coverage for pre-existing conditions, with most offering no coverage whatsoever. Pre-existing conditions may not affect you now, but, when the unexpected occurs, things change fast.
There are many fraudulent products out there – just look at Yelp or BBB reports to see consumer feedback for the latest “deal” you were offered. All insurance products reserve the right to decline payment of any claim. These products exercise this right quote often.
I sell realistic alternatives vetted over time, but I caution that these alternatives are “gambles.” You are gambling with 1 of 3 situations:
- Short Term Medical Plans do not offer much, if any, coverage for prescriptions, will have pre-existing condition clauses, or flat out deny based on pre-existing conditions. In Pennsylvania, we can buy only 3 months of Short Term at a time, requiring at each re-application another round of medical underwriting*. New Jersey has outlawed the sale of all Short Term and most Non-Affordable Care Act products! Here is my online store for Short Term Medical options, which are great if you only need coverage between jobs! http://doitformeinsurance.com/temporary-short-term-medical
- An Association – including but not limited to: Christian/Ministry Health Share Organizations and Employer Association/Unions: I’ve done business with these organizations and they can be a great fit if you understand what you are buying! Realize that you are joining an Association, agreeing with its terms, which will determine if they will or will not cover a claim. Many of these Associations are not insurance and are not governed by state or federal insurance departments. For example, Unions fall under and are regulated by The Department of Labor. Pre-existing conditions are often not covered or coverage withheld for a certain amount of time. I recommend looking at #Aliera, they are one of the bigger and better Associations out there. Here is my online store for Aliera: http://www.alierahealth.com/index.cfm?id=226638
- A fixed benefit/limited medical/mini med/indemnity plan: These plans pay a fixed amount per covered service regardless of what the service costs. They can be great paired with a high deductible Obamacare/ACA plan. On their own, they are a bad risk – not offering enough coverage.
Short Term and Fixed Benefit can also go well together if you missed the enrollment period for Obamacare or simply cannot afford it. United Healthcare is leading the way in these alternatives, check out #HealthProtectorGuard https://www.uhone.com/shop/#/census?brokerid=AA4559575