Expanded Short Term Health  -  notification requirements

New Short Term Health Notification Requirements

 

 

Part of the new expansion with short term health deals with information.

 

Important information.

 

Short term is very different from ACA or Obamacare plans.

 

Shoppers need to understand the differences in order to make an informed decision.

 

We've had short term on the market for decades now.

Why the sudden need for this requirement?

 

Because of how many people will likely start to use the new short term plans.

 

That's due to the other two changes.

 

We'll touch base on what is expected and look at the notification itself.

 

You can jump right to the expanded short term health quote here:

 

Otherwise, jump to any section here:

 

• The 3 big changes for expanded short term health
• The short term notification requirement
• Why add the notification requirement
• Differences between short term and Obamacare plans
• Is short term as an alternative to Obamacare
• Who does short term health work for?
• Who is short term health insurance NOT right for.
• What if you can't afford Obamacare plans

 

Let's get started.

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The 3 big changes for expanded short term health

 

On August 2nd, Trump expanded short term insurance considerably.

 

Actually back to what we had before Obama's executive action in 2015.

 

The big 3 changes to short term health plans:

 

The main change deals with the length of time you can have coverage for.

 

That has increased from 90 days to 364 days.

 

You can always cancel month to month with either duration in 30 day blocks.

 

That's the piece that really makes up the bulk of the change.

 

The notification is the second piece.

Let's look at that.

 

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The short term notification requirement

 

As a protection for people considering short term health plans, the executive order required notification to the enrollee.

 

Basically, it wanted consumers to understand the many differences between short term and Obamacare or ACA coverage.

 

Short term is really designed for more catastrophic coverage by design.

 

There are many situations where short term is good fit but there are others where it's not ideal.

 

As part of the law, the short term company must spell out the differences between short term and ACA plans.

 

We created a detailed comparison of short term versus Obamacare here.

 

It's a bit out of the ordinary to require this type of explanation for short term plans.

 

Why now?

Why with this expansion?

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Why add the notification requirement now?

 

There's a reason the explanation is there.

 

Again, it was an executive order so Trump didn't need the vote to push it through.

 

In fact, it was just a reversal of the prior restriction.

 

We had 360 day short term coverage before 2015 when it was restricted to 90 days.

Why all of this back and forth?

 

There are essentially two markets right now for health insurance (individuals and families).

 

• People who get a tax subsidy based on income
• People who do not qualify

 

If you get a tax credit and or have serious pre-existing health issues, Obamacare has been a Godsend.

 

If you do not get tax subsidies, it has roughly doubled or tripled your cost of insurance.

 

Yes, the plans are richer and more comprehensive.

There are many pluses to the new plans....

 

If you can afford them.

 

Take an example.

 

Let's say we have a couple in their 50's or 60's.

 

They make $75K...just over the Federal gap to get a tax credit.

Their health insurance on the Bronze (lowest level) might be $2000/month.

 

That's not unheard of.

 

So in order to remain in compliance with Obamacare, that couple must pay $24,000 per year out of their $70,000 total income for health insurance.

 

For a $6300 deductible (per person) plan.

 

That's not close to being doable.

 

There are many different versions and flavors of that same situation which all end with the same result.

 

The people go without coverage and pay the penalty.

 

The penalty goes away in 2019.

 

There's an entire range of non-subsidized Obamacare members and decliners will now look at the new short term health plans.

 

They just want catastrophic coverage.

 

Correction...they can only afford catastrophic coverage.

 

The rates are slated to go up again in 2019 at a double digit clip.

 

With potentially millions of people looking at moving to short term nationwide, it's important that they understand what they're gaining and losing.

 

We know the monthly premium is lower.

 

You can always quote the new short term plans here:

 

 

But...what about the benefits?

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Differences between short term and Obamacare plans

 

We wrote an entire article on the new short term plans versus Obamacare here.

 

A quick snapshot:

 

What are the really important concerns that consumers needs to be notified about?

 

• Pre-existing conditions not covered
• Maternity not covered
• Mental health and substance abuse not covered
• Outpatient medications not covered (in-patient are subject to the policy)

 

Make sure guide to read our guide on the differences.

 

The new expanded short term is really there for bigger bills.

 

New injury or illness.

 

It does a really good job on that front.

 

We have helped 10's of 1000's of people compare and enroll in short term for decades now.

 

We have had no issues in terms of processing and claims as long as we're with legitimate carriers.

You can check out the comparison of short term plans and companies here.

 

With the more catastrophic nature of short term, this brings up a good question...

 

Is it an alternative to Obamacare?

 

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Is short term as an alternative to Obamacare

 

Make sure to check out the differences and notifications available through the quote here:

 

There are three different groups that will look at the new expansion to 364 days as an alternative to Obamacare:

 

• People who can't afford Obamacare plans
• People who just want catastrophic coverage at a lower cost
• People who are unable to enroll in Obamcare (missed open enrollment, lapsed coverage, etc)
• For many of these people, it may not even be a choice.
• The ACA or Obamacare plans are available or not in the budget.

 

There are many other people who will consider short term health plans as an alternative to save money.

 

Those are the people who need to really look at the differences between the two.

 

Make sure you don't qualify for a tax credit or expanded medicaid/medi-cal.

 

Look at your health history or expected health care needs.

 

Consider where you are in the year since we can jump on Obamacare at open enrollment each year.

 

Who does it work for?

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Who does short term health work for?

 

Looking at the notifications, short term plans might be good for:

 

• People who CANT enroll on Obamacare
• People who CAN'T afford Obamacare premiums
• People who to trade monthly savings for reduced, catastrophic benefits

 

There's no cost for assistance at 800-320-6269 or by email.

 

We're happy to walk through your situation to see what makes the most sense.

 

We have helped 1000's of people with the same calculation.

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Who is short term health insurance NOT right for.

 

Here's who the notification is really meant for.

 

The people for whom short term might not be a good option:

 

• People with pre-existing conditions
• People with more serious health care needs
• People with more expensive outpatient medication costs
• People considering maternity
• People with mental health or substance abuse needs

 

Make sure to check out the notification when quoting and enrolling short term plans here.

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What if you cannot afford Obamacare plans

 

There are many people (millions in fact) that can't afford the Obamacare plans.

 

They don't qualify for a tax credit.

 

The premium even on the Bronze would consume a large of their monthly income.

 

Many people are forced to look at short term as an alternative.

 

As long as they do so with full information on the difference, they can make an informed decision.

 

THAT's the reason for the notification.

 

Quote the new Trump Short Term Health Plans by carrier here

 

Again, there is absolutely no cost to you for our services as licensed Short term health agents.  Call 800-320-6269 Today!