Healthcare.gov (Obamacare) plans are designed to cover pre-existing conditions with no waiting period.
That sounds great, but why should you pay to cover pre-existing conditions that you don’t have? A one year, short term health plan, can save you and your family thousands of dollars per year if you qualify.
Why should you pay to cover pre-existing conditions you don’t have?
These plans have been around for years, and they are very good at doing what they are designed to do.
- Offer you quality health insurance.
- Cover the important items such as hospital, emergency room, surgeries and visits to the doctor’s office for illness or injuries.
- Save you money.
Let’s say you have a family of 4, parents age 40 and two kids under 18. If you go to the marketplace for a quote for your family in the state of TN in 2019, this is the lowest cost plan available:
Deductible – $7,350 individual, $14,700 family
Monthly Premium – $1,123.08
If I quote you on a Short Term Plan, locked in for one year, this is what I can offer:
Deductible – $5,000 individual, $10,000 individual out of pocket max.
Monthly Premium – $200 per month.
The savings per year is: $11,076.
What do you get for $200 per month?
Full coverage for accident and illness in a doctor’s office or hospital.
Full network discounts from one of the largest insurance carriers in the country.
$2,000,000 annual coverage max.
What are the benefits of the more expensive option?
- Pre-existing conditions are covered in marketplace plans.
- Annual physicals are covered.
- Medications at a pharmacy are covered.
- Maternity is covered.
Why pay $11,000 more per year for pre-existing conditions you don’t have and physicals that cost about $400?
The cost of going to the doctor for sickness on both plans are about the same out of pocket before the deductible is met.
The Obamacare penalty was history in January 2019, so that is no longer a concern.
If one member of your family has a pre-existing condition that you need to cover, then put that person alone on a marketplace plan and the rest of the family on the lower cost option.