YOUR INSURANCE OPTIONS

The 4 Types of Health Insurance Available in The United States

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DEFINED BENEFIT PLANS (INDEMNITY PLANS)

Defined Benefits Plans pay first dollar coverage.  Meaning, there is no deductible on most services.  The insurance company pays first and you pay nothing unless they do not pay the entire bill.  There are deductibles on some plans but only for hospitalization at this time.  These plans use the largest PPO networks in the country.

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SHORT TERM MEDICAL PLANS

Short Term Medical Plans have set terms from 3 months to 36 months.  These plans are similar to traditional major medical plans in that they have deductibles, co-insurance, and in most cases, copays as well.  These are also a viable option to Obamacare.  However, they do terminate at the end of the term. Meaning, you have to reapply and hope you are healthy to re-qualify.

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HEALTHSHARE MINISTRIES

Health Share Ministries have become quite popular for individuals and families that want an alternative to insurance in general.   They all have MSRAs which stands for "Minimum Sharing Responsibility Amount." These MSRAs resemble deductibles on an health insurance plan.  These plans pay claims based on member participation.

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LOOKING FOR ACA PLANS (OBAMACARE)?

ACA Plans are the only permanent major medical plans available in the United States. These are traditional insurance options,  as they have deductibles, co-insurance, and in most cases, copays as well. These plans are best for low income individuals who would qualify for a subsidy or individuals with serious pre-existing conditions. If you do not qualify for a subsidy, these plans can easily become unaffordable.