Illinois to Impose a 180 day Limit on STM Plans in 2019!

Nov 30, 2018 | Illinois Health Insurance Exchange, Illinois Health Insurance Laws, Insurance News, Obamacare | 0 comments

Illinois to Impose a 180 day Limit on STM Plans in 2019!
Illinois lawmakers have taken steps to limit the maximum duration of short-term medical plans (STM plans) to 180 days. Earlier this year, Gov. Bruce Rauner vetoed a bill that would apply this limitation, but Illinois lawmakers had enough votes to override that veto.

In previous instances, applicants who apply for the 12 month plan were grandfathered in and allowed to keep their plan.

If you are on the fence about applying for a 12 month short term plan, now is the time to do it.

Short-Term Quotes

Pros and Cons of Short Term Insurance

ProsCons
  • Low cost health insurance
  • Doesn’t cover pre-existing conditions
  • Approval as early as tomorrow
  • Not HSA Eligible
  • up to 12 months of coverage (starting in 2019)
  • Help bridge gaps in times of transition
  • Primarily acts as catastrophic coverage
  • Access to larger PPO networks
  • Limited selection of doctors
  • Choice of plan deductibles
  • You can’t get ObamaCare cost assistance with a short term health insurance plan

More News

0 Comments

Leave a Reply