Comment: Are you healthy, want insurance, but don’t want to support Obamacare? Short-term policies might be just the ticket you’re looking for.
“A fast-growing, short-term alternative to ObamaCare that allows customers to get cheap, one-year policies could put the government-subsidized plan into a death spiral.”
“The plans, the only ones allowed for sale outside of ObamaCare exchanges, generally cost less than half of what similar ObamaCare policies cost, and are increasing in popularity as uninsured Americans learn they are required to get health coverage. The catch — that the policies only last for a year — is not much of a deterrent, given that customers can always sign up for ObamaCare if their short-term coverage is not renewed.”
[...] “Other providers said they also see rapid growth in the plans, which have a typical monthly premium of just over $100, compared to traditional plans that cost an average of $271.”
““It’s because the product is typically half the cost of ACA plans, and you can chose any doctor or hospital,” Health Insurance Innovations CEO Mike Kosloske told FoxNews.com.”
[...] ““Basically, people making $37,000 or less should go on ObamaCare. People with serious pre-existing conditions — they should go on ObamaCare. But for everyone else, including the penalties and including the subsidies [for ObamaCare plans], we cost 30-50 percent less and have that freedom of choice with providers.””
[...] ““They’re particularly popular with young adults,” she said. “Forty-six percent of our short term policy holders are between the ages of 25 and 34.””
“One conservative youth advocacy group, Generation Opportunity, specifically endorses buying short-term plans as a way to get around ObamaCare.”
Death spiral? Short-term health plans grow as cheap alternative to ObamaCare
By Maxim Lott, October 29, 2014