With all the changes in healthcare, there are 4 main ones this year in 2020 with insurances.
First is the short-term health plans. Prior, their accessibility was limited, offered for only three months, or completely non-existent in some states. If they were offered, benefits like mental health or maternity were not covered on these plans. With the changes made in 2020, the short-term plans are offered in most states (except New York and Vermont) and do cover benefits like those mentioned above; not only for a short term, but a person can have the policy for a year, up to three years consecutively. The reason for this is because most people who choose these plans do not have pre-existing conditions and these plans can be offered at a usually affordable rate.
Second, the market for policy premiums appears to be stabilizing out while other states like Wisconsin and Delaware are predicting premium decreases. This is great as you are not stuck paying a high price. You have the ability to switch a plan in your metal tier. Subsidies have the tendency to increase along with premiums so if the policy does increase, it shouldn’t be very much.
The penalty of not having health insurance is gone! Last year Federal Legislation wiped it out. Well, except for Californians who will pay a penalty of $695.00 per adult or $2085.00 per household for being without insurance annually. However, just in case of emergencies, it is beneficial to have a cheap or low-cost plan. A broken leg costs, depending on your state, around $7,500.00 out of pocket.
Lastly, insurance companies are coming back to certain states. Prior, companies pulled out of states, leaving people with limited options and often high paying premiums for the insurance options available to them. This year you will see more options available, especially if you qualify for a subsidized plan.
Inner Circle Billing doesn’t want out providers or facilities worrying about a patient’s plans or costs and what it means for their practice financially. We obtain accurate benefit information to lay out detailed coverage of a person’s plan so treatment can be given with the max benefit to the provider and low cost to the patient.