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| Health Plan Options |
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| Plan Durations May Have Changed, but Our Short Term Coverage is Here for the Long Term |
The short-term medical (STM) rule that went into effect on 4/1 has left agents uncertain about the future of this product. In this transitional time, there is one constant you can rely on: The IHC Group.
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| Short term plans are now limited to 90 days, but that’s no reason to stop selling. Our STM has always had shorter-than-industry-average durations, as it was intended for use in specific instances—and still is. Consumer needs vary, and that is where STM comes in. |
Why STM?
- Next-day coverage
- Flexible policy lengths – from 30 to 90 days
- Available year-round – no waiting for open enrollment
- Select your deductible, coinsurance and out-of-pocket amounts
- Easily paired with products (e.g., hospital indemnity, gap coverage)
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When 90 days isn’t enough, we’ve got a plan
Hospital indemnity plans can be a wise option for clients who are relatively healthy and need longer-term coverage to help with unexpected medical expenses. Hospital indemnity plans such as the Care Access Plan (CAP) have many advantages; they:
- Include benefits that can be applied to covered healthcare services resulting from hospitalization, surgery, chemotherapy and radiation services*
- Last year-round
- Are guaranteed to be renewable
- Include lump-sum cash critical illness benefits
- Can be kept after someone enrolls in major medical insurance**
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| For a quick comparison of STM vs CAP (i.e., hospital indemnity), see the chart below. |
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If you have questions, please contact me using the information below. |
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* These benefits apply to a specific duration and the amount remains the same regardless of the actual costs of services.
** Hospital indemnity plans do not coordinate with other coverage
1New rules limiting short-term medical policies to 90 days go into effect April 1, 2017.
2Office visit copayment benefit is one visit per policy period. Refer to plan brochure for detail.
3Critical illness benefits are payable as a lump sum under CAP. Other benefits for critical illness may be payable under both CAP and STM.
For producer use only. Not for public solicitation or distribution.
About The IHC Group
Independence Holding Company (NYSE: IHC) is a holding company that is principally engaged in underwriting, administering and/or distributing group and individual specialty benefit products, including disability, supplemental health, pet, and group life insurance through its subsidiaries since 1980. The IHC Group owns three insurance companies (Standard Security Life Insurance Company of New York, Madison National Life Insurance Company, Inc. and Independence American Insurance Company), and IHC Specialty Benefits, Inc., a technology-driven insurance sales and marketing company that creates value for insurance producers, carriers and consumers (both individuals and small businesses) through a suite of proprietary tools and products (including ACA plans and small group medical stop-loss). All products are placed with highly rated carriers.
“IHC” and “The IHC Group” are the brand names for plans, products and services provided by one or more of the subsidiaries and affiliate member companies of The IHC Group (“IHC Entities”). Plans, products and services are solely and only provided by one or more IHC Entities specified on the plan, product or service contract, not The IHC Group. Not all plans, products and services are available in each state.
These products are not qualifying health coverage (“Minimum Essential Coverage”) that satisfies the health coverage requirement of the Affordable Care Act. If you don't have Minimum Essential Coverage, you may owe an additional payment with your taxes. The termination or loss of this policy does not entitle you to a special enrollment period to purchase a health benefit plan that qualifies as minimum essential coverage outside of an open enrollment period. These products may include a pre-existing condition exclusion provision. |
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