Have you done your client’s Medicare review? As we move through the enrollment season more clients are looking for changes due to their new life circumstances. One of those changes might be in health, income level, or new needs. Due to these changes, it might be a good idea to look at options you can present to your clients. Specifically, those in need of Alternatives to plans such as the ACA. With changes to the ACA plan over the past few years, reviewing your client’s needs might be important to help find solutions to any problems that might arise this year with their current plan. Have you thought about introducing them to a short-term plan?
Short-Term Plans Pros
Short-term plans are an alternative you can offer to your clients for temporary medical coverage in certain situations. Short-term can provide coverage up to a year offering them an alternative outside the enrollment period. The plans depending on providers cover essentials such as preventive care, doctor visits, urgent care, and emergency care. These plans are usually cheaper than ACA cost due to their limited coverage as well as being canceled whenever giving your client the ability to get out without penalties. Some companies you might consider getting contracted with for their stand-out plans are Pivot Health as well as IHC.
Short-Term Plans Cons
Although short-term insurance has many pros it also comes with its fair share of cons. For one, plans usually have a higher deductible than traditional health plans. As stated above, the plans only cover a small group of care. Anything done outside of them will cause your client to pay out of pocket. Your client will also have to go through underwriting to a certain extent to make sure they are healthy enough for the plan.
Short-term insurance has its pros and cons, but if needed it can be a great alternative for your client. If they need a cheaper plan, if they need a short-term solution, maybe they are relatively healthy and don’t need a lot of coverage these plans are up for consideration.