IS IT TOO LATE TO GET 2020 HEALTH INSURANCE?

Millions of Americans are still looking for and purchasing health insurance outside the ACA’s yearly open enrollment period. So, if you are someone who hasn’t taken his/her 2020 health insurance yet, and thinking whether it’s too late to get one or not, this article is for you!

How to get 2020 health insurance?

You may be eligible for a unique enrollment period if certain life events occur. A special enrollment period refers to a duration, typically 60 days, during which you can purchase health insurance despite the fact that it is outside of the regular Open Enrollment Period. Qualifying life events are the occurrences that make you eligible for a special enrollment period.

Qualifying Events:

• Losing your current health insurance coverage
• Change in your family
• Change in residence
• Other qualifying life events

Do you qualify for Medicaid?

Medicaid provides healthcare coverage to pregnant women, the elderly, people with disabilities, and individuals or families earning less than a specified income threshold. Unlike the state and federal marketplaces, Medicaid does not have an open enrollment period, and you may apply for coverage at any time of the year. Qualification is based on family size and income, and state-by-state eligibility requirements differ. In most states, if your yearly income is equal to or less than 138 percent of the federal poverty line, you are eligible for Medicaid (FPL).

If you apply for Medicaid during the Open Enrolment Period and are refused, you have 60 days to enroll in another health insurance plan; in this situation, your new coverage will begin on the first day of the month following your enrollment. Consider applying for Medicaid during the open enrollment, even if you don’t believe you’ll qualify. Even if your state finds that you are not qualified for Medicaid, you will be given another opportunity to purchase health insurance.

Consider a Short-Term Health Insurance Plan

If you anticipate a coverage gap between now and the next open enrollment period, short-term plans are a feasible option (in November of 2021). Short-term medical (STM) plans, often known as short-term health insurance or temporary health insurance, provide consumers a cost-effective option to pay for healthcare for a limited time period. The majority of STM plans last 30 to 364 days, although some can last up to three years. While these plans do not offer essential health benefits and are not ACA-compliant, they do cover a wide range of services and give some financial protection if you need to visit the emergency room unexpectedly.

Join a Health-Sharing Plan

Faith-based healthcare is provided by 501(c)(3) non-profit organizations with a religious mission, and it is a viable alternative to health insurance. The term “health sharing ministries” or “healthcare sharing ministries” is frequently used to describe these initiatives.

These faith-based health plans, unlike standard health insurance, are not health insurance plans and do not “insure” patients; rather, they divide healthcare costs across a broad group of people. Members pay into the system, and when their physician sends them a bill, other members of the plan chip in to help pay it.

Primary Care Membership

Concierge medicine is primary care provided to individuals and businesses without the involvement of a third-party insurance administrator. Patients pay a monthly or annual fee to their doctor or medical office for a contractual bundle of services in practices that operate on a concierge membership model–typically between $60 and $100 per month.