Tag Archives: short term major medical

Lower-cost, lower coverage plans coming?

In an article on Fox News (click here for the full article), the Trump administration proposed allowing insurers to sell 12-month long “short term medical plans.”  These used to be available, at a much lower pricing point, but the Obama Administration eliminated them for the most past.

Considering the increasing numbers of clients I speak to who are dropping coverage, or going without, because of the high premiums, this may be a very popular option.

“We need to be opening up more affordable alternatives,” Health and Human Services Secretary Alex Azar told reporters. “It’s one step in the direction of providing Americans with alternatives that are both more affordable and more suited to individual and family circumstances.”


I need health insurance today – what can I do?

While not often discussed, Short-Term Major Medical plans are often the only solution to this problem.

If you missed the enrollment period, weren’t paying attention, didn’t know it was a problem, or just didn’t care – until now – most people cannot get insurance until January 1 at this point.

Short Term Major Medical covers you for anything that occurs while you are covered under the plan – so no pre-existing conditions.  Premiums are reasonable, and deductibles range from $1,000- $10,000.  I recently wrote a policy for a couple in their 40’s with a $5000 deductible, that covered them through the end of the year.  The cost was about $280 a month.

If this sounds like a workable solution to your problem, just give us a call.

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Reeve Conover is a Registered Representative. Securities offered through Cambridge Investment Research, Inc., a Broker/dealer member FINRA/SPIC. Cambridge and Conover Consulting are not affiliated. Licensed in SC, NC, NY, CT, NJ, and CA.
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