We know firsthand that buying health insurance can be a daunting task. But now that we’re headlong into 2020, it’s time to start thinking about yourself and your health. We here at Health Reform Team want to ensure that everyone, young and old, understands health care and health insurance as a whole.
Here are the top health insurance changes you’ll see going into 2020.
Short-Term Health Policies
Short-term health plans are still easily accessible and ready for you. In the past, short-term health plans were only available for three months.
Today, short-term health care plans are now on offer for up to 12 months, and you can renew for up to three years. These policies are less expensive but do not cover the basic benefits, and many insurance companies will deny those with pre-existing medical conditions.
Premium Prices Are Changing in 2020
In the past few years, health insurance premiums have risen. The fixed amount you pay each month is, thankfully, stabilizing in 2020. On average, premiums are set to rise in many states, but not by much. Some states, such as Delaware, Florida, Maryland, and Wisconsin, are even experiencing decreases.
Zero Tax Penalties
Most insurance companies rely on their perfect customer, one who does not require extensive medical care but makes their payments on time, which allows the insurance company to pay sick customers’ medical bills each month.
The Affordable Care Act ensures anyone with a pre-existing condition can receive health insurance, and the additional costs associated with such a policy were balanced out by regulations stating that people who went three months or more without insurance were penalized on their taxes. But just this past year, legislation reduced that penalty to $0.