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A short-term insurance plan is a good fit if your client needs to bridge a gap for a short time when uninsured. Short-term plans give them limited coverage for a limited time until they can move to a more permanent plan.
Recent college grads, people in between jobs, or an early retiree are all good examples of people who may benefit from short term coverage. In some cases, they may choose a short-term plan to cover their children if they are not able to get a family plan right away.
Unlike ACA plans, short term plans don't cover preexisting conditions, and you must answer a series of medical questions to apply.
A short-term plan might be a good fit if your client…
- Missed Open Enrollment and doesn’t qualify for a Special Enrollment Period
- Is waiting for their ACA plan to start
- Is looking for coverage until he/she joins Medicare
- Is turning 26 and coming off a parent’s plan
- Is between jobs or waiting for benefits to start
- Is healthy and under 65
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For ACA Producers:
Having options for coverage is more important than ever. Not everyone is eligible for ACA outside of Federal or State Open Enrollment Periods (OEP). Be ready to present coverage options to your clients with Short Term Medical Products.
Notable Niches:
- Generally healthy individuals
- Budget-conscious buyers and those who want more control over their health care dollars
- Need nationwide network access
- No qualifying life event (QLE) outside of ACA open Enrollment
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