Health Insurance & Affordable Care Act Plans
Health Insurance is an ever changing market. It is important to shop different plans and programs to ensure you are getting the most comprehensive coverage for the best price. There is no one size fits all in Health Insurance. Several factors such as family size, household income, health history, what you do for a living and many more can help determine which plan is best for you.
At MTD Benefits we take a consultative approach to assisting you and your family find the best coverage possible. How do we do this? We have searched all the different plans and programs out there so you don't have to.
MTD Benefits offers many types of coverage:
Affordable Care Act (ACA) plans.
ACA plans are one of the most comprehensive options available. The reason that we call them comprehensive is because they have to cover things like pre-existing conditions, maternity, and mental health. You may also qualify for a tax credit or cost share reduction to help with costs.
There is an annual enrollment period every year from November 1st to December 15th. Enrolling during this time gives you an effective date of January 1st. Outside of the open enrollment period, you would only be able to enroll if you had special circumstance. For example if you lost coverage through your job. These special enrollment periods only last 60 days from the event date.
There are a lot of moving parts with ACA coverage. This is why we at MTD Benefits are here to help.
Association Health Plans
Association Health plans are plans available to certain industries. There are home builder trade association health plans and medical association health plans. To be eligible for these plans, typically you have to be in one of these industries that the plan works with and have a self employed income or be a sole proprietor. These plans will typically be lower cost than an ACA plan and have a larger network of doctors and hospitals. These plans are able to offer lower premiums because they are medically underwritten. This makes Association Health Plans plans a great option for some, but not others.
MTD Benefits has found the best Association Health Plans out there for many industries.
Short Term Medical Plans
Short Term plans are able to be sold for a term of 364 days in most states. There are also options to get back to back terms up to 3 years in total time. Short Term plans typically do not cover certain things like pre-existing conditions, maternity, and mental health. These plans also have limited coverage of items like preventative care and prescriptions.
MTD Benefits works with most short term carriers in the market.
Medical Cost Sharing Programs
Medical Cost Sharing Programs are NOT Insurance. They are a group of like minded people coming together to share in each others needs. Some of these programs are faith based and some are not. These programs come in all different shapes and sizes and are not a good fit for everyone.
MTD Benefits has searched and found the best Medical Cost Sharing Programs available.
Fixed Benefits Plans (also known as Hospital Indemnity Plans)
These plans offer decent coverage but by themselves they will leave holes for a catastrophic event. Fixed Benefit plans were never designed to be a plan by themselves. They were always designed to be a supplemental plan to another coverage.
MTD Benefits works with most major carriers in these plans. We strongly suggest to only have one of these plans in combination with another plan.
Since there are so many different types of plans out there, we highly recommend a no cost no obligation consultation with one of our MTD Benefits advisors.
Contact us today to schedule your consultation.
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