It’s 2018, and with all the information available at our fingertips, it seems that healthcare in the US has only gotten more complex. President Trump and his administration have made some key changes in regards to private health insurance, along with the federal and state-run health insurance marketplaces. So, to make things easy, we’ve compiled a list of the 5 best health insurance options for you and your family. If you are looking to get covered in 2018, or already have coverage, but wondering what plans to enroll in for 2019, here’s what you should consider.
1. Get Covered Through The Private Sector
In 2019, private health insurance will see a resurgence. Under the Affordable Care Act, private health insurance companies were still around, but many were finding it difficult to turn a profit, forcing companies like Aetna and Humana to suspend offering private health insurance products.
With fewer health insurance companies offering coverage, there was less competition, leading to higher healthcare costs. President Trump changed that by loosening the regulations that were strangling private health plans. Expect there to be more private health insurance options in 2019, and greater competition among health insurance companies.
The best part is that you don’t even have to wait until 2019. There are private health insurance plans available in your area, and they may even be cheaper than your marketplace options. You can even start your search today with First Quote Health. Compare your options in as little as 5 minutes.
2. The Revival Of Short-Term Health Coverage
Short-term health insurance plans were largely killed by the Affordable Care Act. Traditionally, short-term health insurance offered minimal coverage that lasted less than a year. The purpose of these plans is to keep you covered between gaps in your health coverage. However, under the Affordable Care Act, short-term health insurance plans did not meet federal standards, and did not protect you from paying a tax penalty.
President Trump changed that in 2017 when he signed what is known as Obamacare Relief. In short, this piece of legislation was an executive order signed by Trump to loosen restrictions on health insurance plans. If you are young and healthy, short-term plans are a great fit because they are often cheaper than traditional health insurance plans.
3. The Marketplace Is Still A Good Choice
You will be able to shop for 2019 marketplace plans between November 1 and December 15 this year. The marketplace will still be alive and well, even though premiums are expected to increase. If you have pre-existing conditions, or an extensive medical history, health insurance plans through the marketplace may be your best bet.
4. Association Health Plans Across State Lines
Association health plans help small business owners and people who are self-employed negotiate cheaper health insurance rates. In order for association health plans to work, health insurance companies needed the ability to sell plans across state lines, something they were unable to do under the Affordable Care Act. The executive order signed by Trump in 2017 changed the rules, breathing life back into association health plans.
If you are a small business owner, or work for yourself, association health plans may be the most affordable health coverage option for you in 2019.
5. Faith-Based Cost Sharing Plans
Faith based cost sharing plans are not technically health insurance, but they do offer an affordable alternative to traditional health insurance. Christian Healthcare Ministries and Medishare work by forming a sort of healthcare community.
Faith based plans typically operate online, and members pay a monthly fee. When a member, or family in need of help paying for costly medical bills, they pay as much as they can, and then other community members pick up the rest of the tab.
The catch is that only services that are approved can be paid for. For example, if you are in need of an abortion or any medical services deemed unbiblical, you won’t be covered. For those who don’t want their money to be used for unbiblical medical services, faith-based cost sharing plans are an affordable alternative to health insurance.