If you missed the January 15 open enrollment date, don’t despair. The IHC Group’s short-term medical (STM) coverage can be a budget-friendly, no-sweat option. These plans could start as early as tomorrow, and you may be surprised at the reasonably-priced premiums.
Read on for 6 reasons why STM coverage may be your coverage solution.
1. Healthy body, healthy bank balance.
The next effective date for Obamacare coverage is March 1. Short-term medical products from the IHC Group are designed as “no wait,” immediate coverage that helps to ensure that you don’t skip medical care.
“One of the advantages of our SSL product, in particular, is you can do a single payment for up to 180 days,” said Ryan Rosenberg, Senior Sales Consultant with IHC Specialty Benefits. “We give you a discount up to 30 percent for purchasing in that way, compared to what the same plan would have been if you purchased it on a month-to-month basis.”
3. A perfect design for new hires or those in between jobs.
Often, new employees don’t receive their employers’ group insurance coverage immediately. Are you between jobs? You don’t have the option of group coverage. For both scenarios, short-term medical can provide the benefits you need until group coverage kicks in.
4. A fit for those awaiting citizenship.
The STM plans can be a viable option if you are not yet a U.S. citizen or a legal permanent resident. Although those awaiting U.S. citizenship or legal permanent resident status can enroll in ACA plans, they will not currently be eligible for a subsidy,” explains Ryan Sharrah, Regional Sales Director for IHC Specialty Benefits.
5. Quick sign-up.
According to Rosenberg, start-to-finish enrollment can take as little as 10 minutes. If approved, you’ll have immediate access to your enrollment kit and ID card.
6. New STM product offers richer benefits than traditional STM products.
Connect Net1 is The IHC Group’s new STM PPO (preferred provider organization) product. It features discounts on covered in-network services, a physician office copayment, a prescription drug copayment after the medical deductibles and other benefits. It is “closer to what consumers are used to,” Sharrah says.