Why Choose Short Term Medical Plans when there’s Obamacare?
Obamacare plans provide comprehensive coverage which is why they are often called major medical plans. These plans will pay for almost all of your healthcare expenses after your deductible is met and you can choose from several different plans with different premiums and deductibles.
Your monthly Obamacare monthly premium runs anywhere from $257 to $900+. If you choose a plan with the lowest premium, your deductible will be at least $7,150 per individual ($14,300 for a family). This means you will need to pay $7,150 before your health insurance company will take care of all other healthcare expenses you incur. If you don’t have that much money available to you, it may be time to explore alternatives to Obamacare. Short term health insurance is one option.
Just remember: Short term health insurance plans are not ACA-compliant so you will still be paying the ACA penalty. However, in some cases, the cost of short term health insurance premiums plus the penalty is still lower than the cost of Obamacare premiums. You need to decide what type of coverage you are most comfortable with.
You could be saving hundreds, even thousands of dollars on medical expenses with a short term medical plan.