Starting tomorrow (Jan. 1, 2014) the Healthcare Act will officially start. What is the main key point of this ? Very simply, ALL pre-existing conditions are covered, which means that if you have been diagnosed with cancer, high blood pressure etc – you can now get covered for health insurance.
THE PROBLEM – Health Insurance Premiums in certain states (Texas, Louisiana & North Carolina) are going up to as much as 51% of what the rates are today (2013) so that means when you wake up in the morning, if you are waiting to get insurance after tomorrow, your monthly premiums WILL BE HIGHER than what they are today!
THE SOLUTION – this is important – Since pre-exisiting conditions are covered, the best and most affordable solution is a 12 month short term major medical plan. Why is that better ? Because at the end of 12 months when you get a rate increase, you can go with a different company because ALL PRE-EXISTING CONDITIONS are covered.
THE NOT SO AFFORDABLE SOLUTION – go with a Major Medical Plan – but still Pre-existing conditions but the monthly premiums are much much higher than a 12 month short term major medical plan. You will probably switch because of the rate increase – so in my opinion, the 12 month plan is better!