This year, the law changed to allow for longer duration short term medical (STM) plans. Due to their low-cost, these plans will be a solution for many individuals in 2019. Before you run quotes, please consider carefully:
Lower Cost: About 1/3 of the cost of an ACA plan
More Providers: STM plans use a PPO network
Choice: More deductibles & out-of-pocket maximum choices than ACA-qualified plans.
Supplemental benefits available to enhance coverage.
Medical underwriting applies: Not everyone will qualify.
Limitations apply: Such as pre-existing conditions, check-ups, maternity, mental health, and even prescriptions are not covered (or very limited in some way).
Your deductible, benefits, and premium will reset halfway through the year. In AZ, you must set up two consecutive 6-month policies at the time of application to remain covered through the year. You will know the rate of the second policy when you set up the first one.
Post-Claim Underwriting: If a claim arises, you may have to prove it was not a condition that existed at the time of application.
Policy Maximums Apply: These can be anywhere from $100k to $2M.