SHORT TERM POLICIES An Insurance Alternative to the Marketplace ACA Health Insurance Plans
Health Insurance Premiums are increasing- a lot. Fortunately, there is an alternative to Obamacare/ACA. If you are in good health and would receive little or no premium subsidy through the Marketplace consider STMplus.
Examples: 1. A single person in their late twenties and $35,000 income - The Silver Marketplace premium would be some $435 a month even with subsidy. STMplus = $120 a month. Monthly Savings $315.00 This is when you compare a Silver $2,500 Marketplace plan with a $2,500 STM plus (Short Term Medical plus) supplemental enhancer.
2. A couple in their early fifties with a 2017 income of some $65,000 not eligible for subsidy- The Silver plan is $1800.00 monthly. With STMplus = $670.00 monthly. Potential Annual Savings = Over $12,000
The Caveats: Short Term Medical plans stand outside the new requirements of the ACA. You must answer health questions and coverage may be declined. Guaranteed option available. Pre-existing conditions - any treatments, diagnosis, consultations - within the last 12 months may not covered. Preventative care, Rx coverage, maternity, mental health and other medical treatments may not be covered.
Individual Mandate: Additional federal income tax due if not covered by a plan with minimum essential benefits. These plans do not meet the requirements for coverage under the ACA. So you may be subject to additional federal income tax when you file your 2017 tax return. To get an estimate of this: ACA Penalty Calculator
As your agent, I am committed to providing you accurate and complete information to make an informed decision. Your health, well being and access to medical care is a top priority. Remember, insurance is protection from the unexpected costs of medical expenses. Working together we can determine if this is the right solution for you. Thank You, Butch Greene