We regularly interact with people and small businesses for whom major medical insurance plans are just not an option. You can have a philosophical or political discussion about this topic, but the fact is that this happens a lot. There are two primary reasons:
1. An individual with certain pre-existing conditions may not be approved for an individual major medical health insurance policy. Not all conditions will result in a decline, but some do.
2. A small business or a family may simply be priced out of the market. Health insurance is expensive!
While a major medical health insurance plan is certainly preferable, a “limited benefit” plan can be a very affordable alternative. As the name suggests, a limited benefit plan doesn’t provide the kind of catastrophic coverage that is ideal, but that results in significantly lower costs. Instead, a limited benefit plan provides practical assistance with everyday health costs on things like doctors visits, surgery, and hospitalization by providing a fixed benefit per occurrence. For example, the plan might provide $75 for a doctor visit, leaving you to pay anything over that amount.
For a small business, AC Forrest can customize a limited benefit plan to meet any budget, and do it with no participation requirements. We can put together plans for groups with 1099 contractors or to include employees working as little as 15 hours per week.
To learn more about limited benefit plans or to discuss your options with a licensed agent, contact AC Forrest today.
