An alternative to health insurance marketplaces available through healthcare.gov are “short term” health insurance plans purchased through insurance brokers.
These short term plans have surprisingly low premiums and even slimmer coverage. The problems with these short term plans have caused four states – California, Massachusetts, New Jersey, and New York – to ban them.
Insurance brokers are incentivized with higher commissions to sell short term plans compared to Affordable Care Act (“ACA”) plans. See more from Consumer Reports HERE
In short, these short term plans are short on benefits and not intended for long term comprehensive coverage. At Kantor & Kantor, we often get calls from potential clients whose benefits under short term plans have been denied. Upon review of the plans, we often learn that these plans are not offering comprehensive coverage expected by claimants.
Here are some tips to ensure you are getting the most out of your health coverage:
- Read your benefit plan or health insurance policy before signing up. Whether provided through and employer, purchased on healthcare.gov, or through a broker, you are entitled to know the coverage provided by the benefit plan or health insurance policy.
- If you have a specific treatment or medication that needs to be covered, confirm that coverage is included.
- Make sure your children or spouse are listed as dependents on the coverage if requested.
- Keep copies of all enrollment paperwork and amendments or updates to coverage.
If you have questions about your health insurance benefits, please contact Kantor & Kantor at 888-569-6013 or use our online contact form for a free consultation.