Did you know that the mandate to be penalized for not having health insurance (or not having an Obamacare plan where the monthly premium is more like a rent payment) was null and void back in January 2019? This does not mean you can go without health insurance and pray to Jesus nothing ever happens to you. It just means the taxman won’t come looking for you if you opt to not purchase health insurance. But what if you’re texting and crossing a busy street and get hit by a car and break both your legs? You’ll need to be hospitalized and likely need multiple surgeries because you couldn’t wait to see how many likes you got on the photo of your sushi lunch. You will also be presented with a bill large enough to purchase a Tesla Model X 75D (518 HP, 91 City / 95 highway). Then you will meet with the really nice lady from the billing department who will set you up with a payment plan for the next 5 years. That’s the best case scenario, but in any case scenario, having a short term (locked in for one year at a time) high deductible-low monthly premium plan would save you from astronomical hospital bills. Meaning you would be responsible for your out of pocket maximum, but after that, your plan will have your back and make sure you can be as irresponsible with your well being without suffering the medical financial consequences.
The bigger question is why is a one year short term plan so great? Because anyone who has no ongoing medical issues of any significance (count your blessings) can purchase it and it’s very affordable. That is worth chasing your dreams if you’re stuck in a job where dreams die.
Even if you are in a job where you can get away with wasting valuable time on social media, if you are covering your spouse and/or kids on your employer plan, you might save money by just putting them on a short term plan.
Call us and tell us about your health insurance plan. We will let you know if your existing plan is the best one in the world for you or if you can do better.