Private Plans
Pros and Cons
Private Plans are BEST for individuals or families that are healthy and do not qualify for any government subsidies (Makes $35k+ combined pre-taxed household income). These are medically underwritten plans, so they are approval based and exclusive association memberships. Private plans group together all healthy people so, because they know they are insuring healthy people, they can provide better coverage at a competitive rate compared to the public and even some employer plans. Private plans also offer upfront benefits before satisfying a deductible, and will keep you covered in all 50 states!
Pros
- PPO Network (coverage travels with you state to state)
- Guaranteed renewable plans available
- On approval, you are able to stay on some plans until age 65
- Great coverage with a lower cost
- Accident protection and catastrophic coverage
- Personal advisor comes with the life of the policy
- Great for travel nurses, truck drivers, contractors, self-employed, small business owners, cosmetologists, oral/dentistry
Cons
- You have to go through an approval process
- Does not have good coverage for maternity, drug & alcohol rehabilitation, or mental health
- 12 month waiting period for pre-existing conditions