What to Do When Obamacare Costs Too Much

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It seems like every year the cost of health insurance under the Affordable Care Act (also known as Obamacare) goes up.

In fact, some reports are showing that for 2019, residents in Georgia could see their premiums rise another 19.5 percent.

It’s no wonder then that so many people are getting frustrated with the climbing costs of healthcare. It seems that insurance under the “Affordable” Care Act isn’t really affordable at all.

So, what do you do when Obamacare costs too much and you’re already worried that in 2019 you can’t afford coverage?

Below are some options you might want to consider.

Keep in mind that you might have to qualify to get coverage. Depending on the program you select, a pre-existing condition or even your lifestyle choices could affect your ability to participate.

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Alternatives to Obamacare

Short Term Medical Insurance: This is a type of medical coverage that you can purchase for shorter durations of time, usually for a period of 30 to 90 days. Short term medical insurance plans have more restricted coverage than major medical plans do, but they usually have a lower premium cost.

Short term medical insurance is typically purchased when you have a gap between coverage. As an example, when you change from one job to another and no longer have coverage through your former employer’s group insurance plan, but also haven’t been at your new job long enough to qualify for the coverage provided by your new employer.

Faith-Based Healthcare: Although this type of program is often included as a health insurance option, in reality, it isn’t actually a health insurance plan at all.

Instead, faith-based healthcare, which is also sometimes called Medi-Share or Medical Cost Sharing, is actually a program in which members voluntarily share in the payment of each other’s medical bills.

While there are no restrictions based on age, those who participate must be Christians who live by biblical principles. This includes abstinence from tobacco and illegal drugs, following the biblical teachings of alcohol use as written in the bible, and attending group worship on a regular basis. In some cases, a pre-existing condition could also affect your ability to participate in this type of program.

The cost of faith-based healthcare programs varies with some organizations having members pay a set monthly amount each month and other organizations having members pay a percentage based on their household income.

Either way, this type of program can provide potential savings to those who don’t have a problem with following the rules of a Christian non-profit health cost sharing ministry.

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Catastrophic PPO Plan. You may also have heard this called a hospital indemnity plan. Unlike other types of insurance, Catastrophic PPO plans provide first-dollar fixed benefits for medical expenses, such as hospitalization, surgery, inpatient and even outpatient services.

What this means is that the plan will pay up to a stated benefit amount for a service without you having to pay an additional amount, such as a copay or sometimes even a deductible. Even though these plans do have a zero deductible when it comes to hospitalization or surgery, this does not mean your out of pocket cost is always zero. It means that it will start paying the bill on the first-dollar.

If you want a great example of this, just ask me about my hospital bill for pneumonia that was over $34,000, but my out-of-pocket cost was zero.

If I would have had Obamacare, my out of pocket cost would have been over $7,000.

That is why I love, love, love this plan!

One of the best things about Catastrophic PPO plans is that they not only can provide you with a low-cost coverage option if you can’t afford Obamacare, you can lock in the monthly premium at the age you are now. This means that you never have to worry about the cost of this plan going up every year like you do with the so-called Affordable Care Act.

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Are You Looking for Affordable Health Insurance?

Although the tax penalty for not having health insurance through Obamacare is going away in 2019, that doesn’t mean that you should go without coverage just because you can’t afford a traditional health insurance plan. Let me show you how you can save money and still have great coverage. I think you will be pleasantly surprised at just how affordable a Catastrophic PPO plan can be!

As a health insurance professional, I can assist you in finding the right benefits for you and your household. My email address and phone number are below. Let’s talk about the best options for you and your family during your free consultation.