April 23, 2014
Now that the April 1st healthcare deadline has come and gone, it's understandable that there are many out there who still need coverage. Whether you weren't in a financial position to buy a health insurance plan, were unable to qualify for a subsidy, or deliberately decided to take the tax penalty based on your own reasons, if you're currently uninsured and not eligible for special enrollment, there are still some coverage options worth considering.
For the record, we're not suggesting that any of these will keep you in compliance with the Affordable Care Act. They won't. Still, we understand that people have their reasons for not signing up during open enrollment, and many still want and/or need to have some sort of protection.
Short Term Medical Plans
A short-term medical insurance policy works in much the same way that traditional health insurance plans do, with a few exceptions. First, they only cover you for periods of typically three months and must be paid for in advance. Just like regular plans they offer various deductibles and copayments, and were originally offered to protect new employees until their group plan coverage kicked in. Short term health insurance is available from a variety of carriers and the rates range by age, health history and other factors.
Critical Illness Insurance
When you ask people what they feel the greatest benefit of health insurance is, many will say something about being covered in the event of a major illness. This is exactly what has made Critical Illness Plans so popular over the past few years. They are designed exclusively to cover expenses after a heart attack, stroke or cancer diagnosis, and pay cash benefits to the policy holder, as opposed to reimbursing the hospital or treatment center for expenses.
Accident Plans and Supplemental Insurance
Whereas critical illness plans help cover the cost associated with major diseases, accident plans do the same thing for those who get hurt and are unable to work. The key benefits of an accident plan include inpatient/outpatient services, prescription drug coverage, special procedures like MRI, X-rays and CT scans, hospital bills, surgery (up to certain amounts), ER visits and more. They're ideal for more active individuals, as well as those who work in dangerous and demanding professions.
Again, we're not trying to make this a loophole for Obamacare. But if you, for whatever reason, were not able to buy a healthcare plan during the 2014 open enrollment period, you definitely have some options until the next open-enrollment begins on November 15th 2014.
Get Free Professional Assistance on IL Health Insurance
If you'd like to know more about any of these or wish to speak with a licensed agent for free, we invite you to call Premier at 800-369-0287 or e-mail us to schedule a consultation. There are no fees for our services, and our staff agents are vastly experienced in all aspects of individual and family coverage, as well and small business, group health plans, and supplemental insurance.