Please note, our Short Term Medical insurance is intended for temporary gaps in health insurance. It is not compliant with the federal Affordable Care Act and does not cover expenses related to pre-existing conditions.
There are two general categorizations of ACA health plans: those available for purchase inside the Health Insurance Marketplace and those available for purchase outside the Marketplace.
Some insurance companies choose not to list their plans in the Marketplace. These plans do still meet the minimum essential requirements of ACA plans, and they are still available only during the Open Enrollment Period.
However, there is one important difference: only plans listed inside the Marketplace qualify for the premium tax credit. Whether you are eligible for the credit depends on your income, state, and household size.
If you don’t meet the income requirements for the tax credit, you can still purchase health coverage through the Marketplace, but you may also want to see what is available outside the exchange.
Here are the four ways to acquire health coverage for 2017:
No matter which of these routes you choose, you must purchase your plan during the Open Enrollment Period. For 2017 plans, this runs from November 1, 2016 to January 31, 2017, so be sure not to miss it.
Short Term Medical (STM) plans provide temporary, short-term coverage of less than 3 months. STM plans do NOT provide “minimum essential coverage” as defined in the Affordable Care Act ("ACA" also known as "Obamacare"). STM plans also do not cover pre-existing conditions, cannot be renewed, and are not guaranteed issue.
Please review the policy for additional exclusions and limitations. By purchasing an STM, you may still be subject to the ACA tax penalty for not maintaining minimum essential coverage. You should consult your tax advisor to determine if the ACA tax penalty applies to your specific situation.