Healthcare Changes For 2018

With the 2018 Open Enrollment period now only one week away many people are asking what has changed for 2018 with regard to their health insurance?

The simple answer is nothing much has changed. The main changes for the way 2018 will operate is that premiums are going up virtually across the board and some carriers have pulled plans out of certain states. Those are the main changes.

There are several bills in the Senate that are taking shape that would change some of the healthcare laws and regulations but, so far, the Senate can’t seem to agree on what should be done to repeal and/or replace Obamacare.

The IRS also recently announced that they will no longer process tax returns for 2018 that do not answer the question about health insurance. However, in many cases, the “penalty” is much less than the premiums would be under Obamacare compliant health plans.

So what are your options?

Short Term Medical Plans

  • These plans currently go in 3 month increments but are substantially cheaper than their Obamacare counter parts.
  • These plans do not cover pre-existing conditions so you need to be mindful of that if considering one of these plans.

Exchange Affordable Care Act Plans

  • These plans run for 1 year.
  • Certain people are eligible for subsidies if they are under a certain income threshold.
  • Cover Pre-existing conditions
  • Many of these plans limit the doctors that you are allowed to see and do not provide out-of-network coverage. Check with a licensed agent in your state to verify your doctors before purchase.
  • Because of mandated coverages, these plans tend to be more expensive as you are paying for things you do not need.

Supplement Plans

  • Supplements can help out of pocket expenses with either of the two major types of medical plans. They can help pay for deductibles and out of pocket costs in the event something catastrophic were to happen.
  • Generally inexpensive.

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