bogey21
TUG Member
I buy a Health Care policy for my oldest Son who is 39 years old. I have been in the habit of buying 360 day Short Term Policies and replacing them with new ones at maturity. Historically Short Term Policies written by Golden Rule (now part of United Healthcare) could be purchased for terms between 30 and 360 days.
The big negative between them and ACA Compliant Policies is that they don't cover pre-existing conditions and are non renewable. Each year you have to apply for a new policy which will be denied if something which can be defined as a pre-existing condition happened during the prior year.
The benefit to me who is paying the premiums is that even after taking into account the penalty for not having an ACA Compliant Policy the cost of a 360 day Short Term Policy is about half that of an ObamaCare Policy and the deductible is not as high.
Well in order to push people like my Son into ACA Compliant Obama Care Policies the prior Department of Healthcare and Human Services passed a rule limiting Short Term Policies to 89 days and will no longer allow one Short Term Policy to replace a maturing one. Naturally I don't like it as I like the lower deductible and cheaper premium.
I understand that rescinding this rule and allowing for 360 day policies and allowing new ones to once again be allowed is now under review. Since my Son's policy doesn't mature until December 14th, I have hope.
George
The big negative between them and ACA Compliant Policies is that they don't cover pre-existing conditions and are non renewable. Each year you have to apply for a new policy which will be denied if something which can be defined as a pre-existing condition happened during the prior year.
The benefit to me who is paying the premiums is that even after taking into account the penalty for not having an ACA Compliant Policy the cost of a 360 day Short Term Policy is about half that of an ObamaCare Policy and the deductible is not as high.
Well in order to push people like my Son into ACA Compliant Obama Care Policies the prior Department of Healthcare and Human Services passed a rule limiting Short Term Policies to 89 days and will no longer allow one Short Term Policy to replace a maturing one. Naturally I don't like it as I like the lower deductible and cheaper premium.
I understand that rescinding this rule and allowing for 360 day policies and allowing new ones to once again be allowed is now under review. Since my Son's policy doesn't mature until December 14th, I have hope.
George