The Reason Why Short-Term Policies Cost LessOn Behalf of Disability Insurance Law Group | | Denied Private Disability Ins. Claims
Individuals in Florida and throughout the country are eligible to buy health insurance through the Affordable Care Act (ACA). About 80 percent of those who buy policies through the ACA receive subsidies to make their policies more affordable. As part of changes to the system announced in August 2018, it is now possible to buy short-term policies that last for up to 364 days.
However, these plans generally offer less coverage and may not be available for those who have pre-existing conditions. According to research from the Kaiser Family Foundation, 71 percent of these plans don’t cover prescription drugs. In the past, they have not been considered to be qualified health plans. This means that those who’ve purchased them have been subject to a financial penalty. With the elimination of the individual mandate, this is generally no longer the case.
Those who follow the issue believe that those who don’t receive subsidies will choose to purchase short-term policies. This is because they won’t have to buy a plan that they might not otherwise be able to afford just to avoid the financial penalty. However, such a choice could backfire. For example, one man is facing $35,000 in medical bills after kidney stone surgery. This is because his health insurance company has not committed to paying for the surgery.
Those who have had an insurance or private disability claim denied may have options to remedy the situation. The first may be to file an appeal of the denied claim. In some cases, this may be enough to get it overturned. It may also be possible to ask an attorney to help with the matter. A lawyer may take steps to compel payments from insurance companies on a patient’s behalf.