Although Open Enrollment for major medical health insurance plans ended last month, many people are unaware of the many coverage options they can take advantage of outside of open enrollment. Some of these options include:
1) Special Enrollment in Major Medical Insurance Plans
Even if you missed Open Enrollment, you can enroll on the Health Insurance Marketplace if you have a qualifying event as long as you choose a plan within 60 days. Some examples of qualifying events include moving to a new area, losing your employer-sponsored coverage, expiration of COBRA benefits, or even significant income changes which affect your subsidy eligibility. If you think you may qualify for a special enrollment period, ACA Marketplace Enrollment Solutions (ACAMES) can help with your application and enrollment in a health plan.
2) Short Term Major Medical Plans*
Short term major medical coverage may be the option for you if you want to protect yourself from gaps in medical coverage until the next Open Enrollment Period begins on November 15th, 2014. Short term plans usually cover individuals for a limited number of months and are typically not able to be renewed past their termination date.
3) Fixed Indemnity or Fixed Benefit Plans*
Fixed indemnity benefits provide a set reimbursement amount for each day you are in the hospital and for each day you receive specified medical treatment or surgery. These benefits are paid in specific amounts without regard to the costs of services rendered. For example, you may receive $100 per day you are in the Emergency Room. These can be purchased as stand-alone plans or as a supplement to high deductible health plans.
4) Accident Insurance Plans*
Life is full of unexpected accidents. Did you know that there are insurance plans that can provide coverage specifically for life's surprising moments? Accident plans usually provide a set amount of coverage for specific incidents, such as a broken arm. Families with children who play sports or participate in other physical activities may benefit from this supplemental plan option.
5) Critical Illness Plans*
Critical Illness plans typically pay a lump-sum benefit amount when you are diagnosed with a specific illness such as cancer, heart attack, stroke, or kidney failure. This benefit amount can be used to offset expenses not covered by your health insurance plan, such as co-payments or lost income due to illness.
This is just a snapshot of the plans that may be available for consumers outside of the open enrollment period. Many people are unaware that there is such a large variety of coverage options available to help them. ACA Marketplace Enrollment Solutions is staffed with knowledgeable agents year-round who can help you supplement your current insurance coverage or find a temporary plan to provide protection until next year's Open Enrollment Period.
Call US Benefit Solutions Today to purchase your health insurance plan at 888-959-3788.