STM is an acronym for Short Term Medical. These types of plans have become quite popular since the Affordable Care Act (ACA, aka Obamacare.) Our Brokers and Agents educate our clients before they let them buy a Short Term Medical Plan. The downfall of buying a Short Term Medical Plan is that it ends in one year. Yes, there are plans that allow you to â€œrenewâ€ each year, but it is still a STM. This means you start over each year.
What if you had a preexisting condition that wasn’t covered the first year? Unlike an underwritten plan that allows you to be covered in the second year, a STM will not. It will be like having a new plan each year. What if you had a medical event that now wouldnâ€™t be covered the following year because it is now Pre-existing? You need a plan that will never drop you! These are just a couple things to think about.
Our Agents at Fredrick Insurance Brokers are committed to educating our clients. This is our area of expertise and we want you to have a policy that works for you and provides the best coverage available.Â There is no one plan that is perfect for all. If there were, none of us would be able to afford it JÂ However; there are options available to you that offer first dollar coverage on the first day. You can rest assured that you wonâ€™t be kicked off the plan if you have a medical event. In fact, you can keep the plan until you are 65!Â Call us before you buy a Short Term Medical Plan and we can show you the coverage and rate differences.
You don’t know what you don’t know. We are here to educate you on Health Insurance so you can feel confident in your plan and know how to leverage it to your advantage. Health Insurance is not sexy, but it is necessary. It is our job to protect you, so you donâ€™t get the wrong plan and regret it when it is too late.