The Best Options for Year Round Enrollment

Aug 12, 2019

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Cost-Sharing Programs vs Short Term Medical

  1. Cost-Sharing Programs

    2 vote(s)
    40.0%
  2. Short Term Medical

    3 vote(s)
    60.0%
  1. JeremySoper
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    JeremySoper Expert

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    Outside of Open Enrollment without a Special Enrollment Period. What do you consider to be the best options for consumers?
     
  2. David Taylor Jr
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    David Taylor Jr Guru

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    By Cost-Sharing are you referring to things like Medi-Share? If so, I would NEVER suggest that as an option for someone. It's not insurance and payments are NOT guaranteed.
     
  3. Yagents
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    Yagents Guru

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    STM over any ministry or indemnity plan.
    Better option if avail is ACA, group or Medicaid, medicare
     
    Yagents, Aug 12, 2019
    #3
  4. JeremySoper
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    JeremySoper Expert

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    Great feedback so far, I'm curious to see to overall opinion of the Insurance public. A lot of my clients love the Sharing Program options
     
  5. David Taylor Jr
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    David Taylor Jr Guru

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    But WHY do they love the sharing programs? That's the thing to hit on. They sound good in theory until you read all of the fine print.
     
  6. JeremySoper
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    Understanding the limitations and exclusions is a big part of the conversation, I agree. The preventative benefits are a big like from clients compared to STM's. Also not dealing with the hassle of getting a new plan once the term expires, depending on the state. Depending on who you speak to, these plans work for many individuals.
     
  7. David Taylor Jr
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    STM have terms as long as regular medical plans in most states now so that shouldn't even be a factor. Some also include wellness visits these days. Of course, if you are buying insurance for preventive you are doing it wrong. That's like saying your car insurance should cover an oil change.
     
  8. JeremySoper
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    JeremySoper Expert

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    There are still many states that do not fall into that explanation, but it is becoming less and less of a factor I agree. Wellness in most STM plans are not even close to covering the same benefits as Cost-Sharing, although it is nice they include something. Buying a plan solely for the preventative benefit is ill-advised and illogical. With that being said, might as well use it if you have it!
     
  9. David Taylor Jr
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    The big thing is, what happens if something major happens. You want to make sure you have something solid. Share plans are not that.
     
  10. Katie
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    Katie New Member

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    The best option would be private insurance in my opinion. A client can get on at any time..they are on PPO networks.. and they offer great coverage. The only stipulation is that most of the private plans are medically underwritten so the client would have to be approved based on their health. There is another guaranteed issue plan on the private sector that is similar as well. If someone has a major pre-existing condition that requires them to go to the doctor all the time.. those plans could be an option if they are unable to get on the marketplace.. but I always advise them to get on the marketplace when they can!
     
    Katie, Aug 12, 2019
    #10
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