Expanded Short Term Health - New Trump expansion of short term health
It's been a few years of constant change with health insurance.
Now is no different!
Enter the new Trump expansion of short term health insurance plans.
We'll explain why below.
More importantly, for many people who don't qualify for a tax credit, it may become the go-to health insurance option starting in 2019.
We have to understand the differences between Obamacare and the new Trump short term plans.
We'll get into all of it right below.
You can always quote short term plans here:
Otherwise, feel free to jump right to any section here:
Lot's to cover.
Let's get started.
Before we talk about these new plans, let's look at what they are a reaction to...the ACA law.
The short term plans are really a reaction to the ACA (Affordable Care Act) law.
The ACA started in earnest Jan 1st 2014.
It mandated wide sweeping changes to the health insurance market:
Those are the big ones.
Lots and lots of other smaller changes.
For many people with significant health issues or lower income, the ACA provided a great deal of relief.
The problem is the cost associated with the coverage if you do not qualify for the tax subsidy.
That will only continue going up due to the design of the plans.
Take a look at medication costs.
We're seeing those costs explode lately.
Why not when the end consumer just has a copay through an ACA plan!
So...Obamacare really is a tale of two cities.
Tax credit or major health issues...you're loving it!
No tax credit and just want catastrophic coverage...not so much.
There was one other change Obama made in his last year of office.
That affected short term.
We've had short term plans for decades.
They typically addressed some gap in coverage:
Many uses for a short bridge in coverage of about 3-6 months.
With the ACA law, we started to see short term plans up to 364 days.
This was partially to prevent people from using short term plans as a way to avoid the ACA market (on exchange).
If healthy people could just get short term, the "risk pool" in the ACA marketplace would get worse.
Rates would go up across the board.
Or they just didn't enroll to begin with!
The costs without tax credit are just too high.
We see Bronze plans that cost $1000/person for older Americans.
A couple making $70K can't pay $24K in health insurance!
Not for long anyway.
Check out detailed information on how short term plans work in general.
Let's look at it in detail.
You can always quote the expanded short term plans as soon as available here:
On August 1st, 2018, Trump announced the expansion of short term health plans.
There were three main effects:
We'll touch on each of these below but net effect is this:
The net net effect is more important.
You can get catastrophic coverage and avoid the ACA marketplace!
Exactly what they were concerned about before.
Let's look at each change in more detail.
Starting with the most important.
This is the big one.
Just short of a full year.
This basically allows people to get short term out to Open Enrollment on the ACA market each year.
That's important since that coverage is guaranteed issue in case something happens healthwise.
You can still cancel month to month but the 364 day is a big deal.
We've been limited to 90 days after which a person has to re-enroll.
This severely crimped the ability to use short term plans as a work-around for the ACA.
Learn more about the expansion to 364 days of short term.
Short term plans are very different from Obamacare or permanent health plans.
We've covered the differences of Obamacare versus Trump short term health plans here.
It's important to check that out in order to make an informed decision.
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If you read the list of mandates above for Obamacare plans, you can basically remove those for the short term plans.
Take a look at the brochure available through the online short term quote here.
The 3rd change makes short term more longer term in a way.
This means that you can stack 3 364 day short term policies.
The renewal will likely require re-qualifying based on health.
Most people will take short term plans out Jan 1st and if they're still in good health, renew the following year during the ACA open enrollment.
Or they will jump onto the ACA market if needed.
That's why the 3 year renewal is important.
After 3 years, they could potentially change short term carriers if available.
A lot can happen in 3 years for health insurance so that's getting ahead of ourselves for now.
So...when are the new plans available.
Officially the new short term plans are slated to be available October 1st, 2018.
Learn about 2018 short term health plan options here.
Health insurance doesn't work that fast!
The carriers will have to design the new plans.
The States will have to approve the new designs.
Just in time for Open Enrollment!
As soon as available, you can quote the Expanded short term plans here:
We'll add new legitimate health carriers to the quote page as available.
These are the only carriers we feel confident in.
It partially depends on what's available in your State:
Again, we expect more carriers to come board with the expansion since they left with the restriction.
The penalty is slated to go away in 2019 so short term plans will not be affected.
The penalty remains through 2018 and any gap in ACA coverage beyond 3 months had a penalty for that year.
We've written an expensive article on Obamacare versus Trump short term health plans here.
It's that important.
Check it out after this page.
It's important to understand why people choose short term plans.
They were really designed to be catastrophic coverage plans for limited period of time.
They're not designed to cover the day to day services.
These are some of the important exclusions to know:
Take a look at the brochure for full detail available through the quote:
We're happy to help with any questions at 800-320-6269 or by email.
It depends.
If you are eligible for a tax credit or Medicaid/Medi-cal, you probably won't feel much.
The ACA law basically caps your share of healthcare costs as a percentage of your income.
If you have ACA coverage but no tax credit, your costs will likely go up as a result.
That's been the case without short term anyway since 2014.
It will probably accelerate.
The ACA market has true design issues pre-dating Trump's short term expansion.
It's the costs!
There's no really offset in the law to reduce utilization of health care or the cost that can be charged for it.
Medications for soriasis at $75K year.
That's going to blow up with or without short term expansion.
In fact, the reason the short term plans were expanded is exactly due to the ACA law design.
We're not political...we just want to help people find the best options for them.
It's just what we see day to day with the ACA marketplace.
There are big winners (tax credits) and big losers (no tax credits).
The big losers are going to lose more now with the expansion.
Many factors to look at here.
In general, you want to consider the following:
These are some of the big ones.
Here's what we find.
Most people get short term because they HAVE to.
They either can't enroll in ACA plans (missed open enrollment or lapse coverage)
Or..
They can't afford ACA plans (no tax credits, just want catastrophic coverage).
People will get 364 day blocks at a time and decide on whether to renew at Open Enrollment or jump on the ACA market.
We're happy to go through your situation at 800-320-6269 or by email.
It's is a big reason why short term is so popular.
There's no open enrollment.
You can enroll any time during the year.
They might have missed Open Enrollment.
They might have lapsed coverage due to missed payments.
It's very common.
We generally can get an effective date midnight following online enrollment which you can access through the quote link here.
With short term health plans, you can always cancel month to month.
Generally in 30 day blocks.
You just need to email cancellation request to the carrier with your ID#.
We can help with that process.
Just email us with any questions or requests.
This strategy was already present with the old short term plans.
It's going to explode in popularity with Trump's expanded short term.
They'll re-evaluate their healthcare needs and either jump onto the ACA marketplace or renew for more short term coverage.
In this way, the expanded plans have become a work-around for the ACA healthcare
market.
If you are eligible for a tax credit, you should go with the ACA most likely.
We're happy to help with any questions at 800-320-6269 or by email. There's ZERO cost for our assistance!
It's easy, online, and free.
You can access the Trump expanded short term rates here:
The quote is shown is monthly even if a longer period of time is given.
You can always cancel month to month (details above).
There's no cost for our assistance and the rates shown are the best available.
One of the best parts about short term is the enrollment.
It's online and generally takes about 5 minutes.
Enroll right through the short term health quote link.
There's a series of simple health history questions.
If we can answer "no" to them honestly, we're generally approved!
You'll get confirmation in about 48 hours for most cases.
We're happy to help with any questions!
We covered a lot regarding the Trump expansion of short term health insurance.
It's going to be a big alternative to the ACA or Obamacare marketplace starting in 2019.
We really want people to understand the differences between ACA and Trump short term.
We've covered the big differences across our site but feel free to contact us with any questions.
The new plans should be attractive to:
Potentially, there are millions of people that fall in these categories.
Our assistance is 100% free to you.
We know the new plans in and out.
We've had 25+ years experience with short term health plans.
How can we help YOU!?
Again, there is absolutely no cost to you for our services. Call 800-320-6269 Today!
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