Under 65 Health
There are many different health insurance options for those under 65—here are four of those options to get you started on your search.
Short Term Plans
Short term health plans typically provide temporary coverage for services such as emergency care, doctor visits, or preventive care. These plans can be used while in between health plans, outside certain enrollment periods, or if coverage is needed in the event of an emergency. Some plans may also cover prescription drugs. With a short term health plan, you can typically choose a plan that can provide coverage for up to a year, but the coverage you receive ultimately depends on the plan and insurer.
A short term health plan is not ideal for everyone, nor is it ideal if you need long term coverage. However, there are certain situations in which a short term plan should be considered:
- You missed the enrollment period for a traditional health plan.
- You lost or left your job and no longer have employer coverage.
- You moved off of your parents’ health insurance plan.
Fixed Benefit Plans
Fixed benefit health insurance plans provide a set amount of money, referred to as a payout, to cover predetermined illnesses, conditions, or incidents. The amount is typically paid as a lump sum and acts as a source of money to pay medical bills.
Advantages of a fixed benefit plan includes:
- Being useful when looking for coverage in a personal accident.
- No sub-limits when getting coverage for medical conditions.
- The payout amount enables the policyholder to meet other non-medical expenses.
Health Sharing Plans
Health sharing plans are typically faith-based where members of the plan agree to cover a portion of each other’s medical expenses. Because health sharing plans are generally considered to be different from traditional health insurance, the health-share cooperatives will make their own guidelines, choosing what will be covered and what will not be covered. Some plans do not cover preexisting conditions, wellness visits, preventive care, dental, or vision services.
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ACA Plans
Affordable Care Act (ACA) plans are compliant with federal law and provide many health benefits. There are 4 common ACA plans: PPO, POS, HMO, and EPO. All ACA policies are required to cover these services:
- Hospitalization
- Emergency services
- Outpatient services
- Prescriptions
- Preventive and wellness services
- Laboratory services
- Maternity/newborn care
- Pediatric services, including oral and vision care
- Rehabilitative and habilitative services
- Mental health, behavioral health, and substance use disorder
Searching for the Right Health Insurance?
Finding good health insurance under 65, especially if you do not receive it through an employer, can feel impossible. How do you know what you qualify for? What plans are the best “bang for your buck?” We can answer these questions and much more—for all of your health insurance needs, call Veritas Insurance Group at 563-940-2284.
