In an effort to help the many Americans who do not like or cannot afford the official Obamacare plans, President Trump signed an Executive Order that does three things to help with Obamacare in 2019:
- Eliminate the tax penalty for not having an official Obamacare plan.
- Allow individuals to have short term major medical plans for up to 364 days.
- Allow individuals to have a short term plan for up to three consecutive years.
What are the pros and cons of short term Major Medical plans?
Pros – Short term plans can be up to 50% less than Obamacare Plans and offer a national PPO plan allowing you to have access to thousands more healthcare providers without having to get a referral. You can pay with a credit card and if you can make single payment for your coverage you can receive up to 24% discount on your premium.
Cons – Short term plans are medically underwritten and not all individuals will qualify. Short term plans do not cover pre-existing conditions or preventive care.
If you would like more information on these plans give me a call.
Greg Downing O(512) 900-3008 M(512) 656-9378