Today, many people are self employed, losing their employer benefits or finding their employer benefits too expensive along with higher deductibles and decreasing benefits.

If you are in this situation, it can be a challenging and daunting task to find and understand the right health insurance option that will fit your coverage needs and budget. Going on-line can get you in trouble as you believe that you are getting a certain type of coverage and then when you go to use your insurance, it is not what you signed up for.

I would also caution you, that there are insurance companies and agents that will lead you to believe you are getting a major medical plan when the only major medical plans remaining in the market are Affordable Care Act (Obama Care) plans or employer group plans.

Currently, there are three types of plans available for private (or non-employer paid) health insurance.

Affordable Care Act (Marketplace) which is well suited for those individuals who have a pre-existing condition of which they are currently being treated to ensure that they are not without treatment. These plans have an open enrollment period of November 1^st – December 15^th or you can enroll outside of these dates if you have a qualifying life event.

Short Term Plans. These plans work well for people in transition; i.e., between jobs that offer employer paid benefits or needing a few months of coverage before moving into Medicare. These plans are currently offered for 30 days to 36-months terms and are re-writeable after the plan term expires. These are structured similar to a major medical plan with a deductible, co-insurance and max out of pocket with annual benefit of $2 million.  Doctor office and some well care is included. These plans do not have a designated open enrollment and one can enroll any day of the year.

Hospital Indemnity Plans offer the best option for those looking for a permanent plan, in other words, one that is guaranteed renewable. These plans offer a set insurance benefit for medical services for hospitalization, surgery, doctor visits, well care and other medical services. Some plans have a zero deductible or you can choose a higher deductible. Your auto insurance is an indemnity plan; i.e., when in an accident, your deductible (should you have one) is deducted and then your benefit is applied to pay for the repair of your automobile…this process is per incident. As with the Short Term plan, enrollment is offered any day throughout the year.

Don’t get caught with the wrong health insurance…for information or questions, please feel to contact me. And, by the way, if you are unhappy with your current health insurance plan, you are able to cancel at any time and switch to another type of plan.