Open enrollment for individual major medical insurance coverage (also known as Obamacare plans) ended on Jan. 31, 2016. The 2016 Obamacare open enrollment period is officially over and has not been extended as in years past.
In the meantime, if you find yourself between Obamacare plans, short term health insurance may be a temporary coverage solution.
Short term plans last 30 days to 6 months—possibly up to 364 days, depending on the state where you live. Once your short term policy ends, you may be able to apply for another one. However, it is important to note that it will be treated as a new, separate policy and you must go through the application, approval and enrollment process again.
Call the number at the top of your screen to learn more about your short term health insurance options and the maximum short term policy length available in your state.
The impact going without health insurance can have on you depends on your healthcare needs and financial circumstances, as well as whether or not you qualify for an exemption from having minimum essential coverage (i.e., the individual shared responsibility provision).
While a short term health insurance plan is not the same as an Obamacare plan, is not subject to the Affordable Care Act (e.g., is not guaranteed issue, doesn’t include essential health benefits) and will not prevent you from owing a tax penalty, it can help if you need healthcare and incur unexpected medical bills.
An October 2015 Kaiser Family Foundation study found that uninsured individuals often face unaffordable medical bills when they do seek care and often face higher charges than insured people who receive care. And, a Bankrate.com survey recently found that only 4 in 10 Americans could rely on their savings to cover anything beyond their usual bills.
Short term health plans:
Don’t crowdfund your healthcare in 2016. Consider short term coverage until you are able to enroll in and begin an Obamacare plan.
Click here to get a short term health insurance quote from healthedeals.com, or call the number at the top of your screen to speak with a producer who can discuss the short term health insurance options available in your state.
 The Henry J. Kaiser Family Foundation. “Key Facts About the Uninsured Population.” Oct. 5, 2015. http://kff.org/uninsured/fact-sheet/key-facts-about-the-uninsured-population/
 Marksjarvis, Gail. “Most Americans Don’t Have Enough Money to Cover a $500 emergency.” Star Tribune. Jan. 25, 2016. http://www.startribune.com/most-americans-don-t-have-enough-money-to-cover-a-500-emergency/366277561/
SHORT-TERM MEDICAL EXPENSE (STM)
THIS IS A SHORT TERM HEALTH BENEFIT PLAN THAT IS NOT INTENDED TO QUALIFY AS THE MINIMUM ESSENTIAL COVERAGE REQUIRED BY THE AFFORDABLE CARE ACT (ACA). UNLESS YOU PURCHASE A PLAN THAT PROVIDES MINIMUM ESSENTIAL COVERAGE IN ACCORDANCE WITH THE ACA, YOU MAY BE SUBJECT TO A FEDERAL TAX PENALTY. ALSO, THE TERMINATION OR LOSS OF THIS POLICY DOES NOT ENTITLE YOU TO A SPECIAL ENROLLMENT PERIOD TO PURCHASE A HEALTH BENEFIT PLAN THAT QUALIFIES AS MINIMUM ESSENTIAL COVERAGE OUTSIDE OF AN OPEN ENROLLMENT PERIOD. THIS POLICY INCLUDES A PRE-EXISTING CONDITION EXCLUSION PROVISION.
About The IHC Group
The IHC Group is an organization of insurance carriers and marketing and administrative affiliates that has been providing life, health, disability, medical stop-loss and specialty insurance solutions to groups and individuals for over30 years. Members of The IHC Group include Independence Holding Company (NYSE:IHC), American IndependenceCorp. (NASDAQ: AMIC), Standard Security Life Insurance Company of New York, Madison National Life Insurance Company, Inc. and Independence American Insurance Company. Each insurance carrier in The IHC Group has a financial strength rating of A- (Excellent) from A.M. Best Company, Inc., a widely recognized rating agency that rates insurance companies on their relative financial strength and ability to meet policyholder obligations. (An A++ rating from A.M. Best is its highest rating.) Collectively, the companies in The IHC Group provide insurance coverage to more than one million individuals and groups. For more information about The IHC Group, visit www.ihcgroup.com.
About IHC Specialty Benefits, Inc.
IHC Specialty Benefits, doing business as Health eDeals Insurance Solutions is a full-service marketing and distribution company that focuses on small employer, individual and consumer products. Health eDeals markets products through general agents online, telebrokerage, advisor centers, private label and directly to consumers. For more information about Health eDeals visit www.HealtheDeals.com.