The IHC Group Announces Short Term Medical Product Change
The IHC Group is
committed to continue offering short-term limited duration medical
plans (STM) (plans underwritten by Independence American Insurance
Company (IAIC)) as an option to those who cannot purchase insurance
through the ACA marketplace due to timing or affordability. It is
important to focus on providing insurance plans that deliver on
affordability and meaningful coverage in the event of an unforeseen
accident or illness.
We are choosing at
this time to suspend sales of our Connect Value and Connect Value
Extend STM plans. As of 4:00 p.m. PST March 24, 2020, we will not
accept any applications for these plan options. This does not affect our other
STM plan options, including Connect STM, Connect STM Extend or Connect
Plus; they will remain available. Connect Plus
plans will still offer limited benefits for pre-existing conditions. Our plans do not have waiting
periods before illnesses are covered but please note that normal
pre-existing condition limits will apply.
The Connect STM plan
has a $2M maximum benefit per coverage period, and additional coverage
options. We are very pleased with the initial results of our medical
bill repricing changes on Connect STM in bringing down the costs for
our insureds. We are backing that up with patient advocacy services to
help navigate the system. At a time when providers do not have a
blueprint for billing certain health care services, we believe the
advocacy and negotiation services offered through Connect STM are very
valuable.
We appreciate our
business relationship with you and your commitment to the STM market.
Affordable health insurance is important now more than ever. If you
have any questions about this decision, contact your IHC sales
representative.
For more information on Connect STM or to see state
availability,
click the links
below:
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