Open Enrollment, take a look at these health insurance policies
Are you an expat living in the USA? Take a look at our affordable insurance plans for expats in the USA, they offer several advantages. Arrange the insurance now, since Open Enrollement has started!
Open enrollment in the USA
From November 1, 2017 to December 15, 2017, people living in the US can apply for health insurance that starts on January 1, 2018. This is the time to see if you can be better and more economically insured in 2018 through JoHo Insurances. Expats have the advantage that they can opt for an international insurance policy with a few advantages. A look at the offer through an American online broker and the official Health Insurance Marketplace, shows that insured persons in the USA have to deal with high deductibles, a form of co-insurance in addition to the deductible (for example, 30% of the bills themselves pay ) and quite high premiums.
A 45-year-old man living in NY soon pays $ 702 per month and then has a deductible of $ 600. (1) When choosing an insurance policy, you are also expected to make an estimate of the care that you will need. For example, how often you go to a doctor next year or how often you need medication. That is quite difficult and there are maximum reimbursements. So if you bet too low, chances are that you will still pay a lot yourself.
“Self-funded plans are cheaper for employees and are often promoted to employees, but they operate in the company’s best interest, not yours” (2)
Even if the employer offers an insurance policy, it is wise not to agree to this immediately. The Self-funded schemes in particular (where the employer himself estimates the risk and is responsible for the payment of claims) are risky. This risk is in the absence of ACA requirements; there is no Essential Benefit package (3) and the employer may decide that certain treatments are not reimbursed, even if this was planned. If the “insured amount” has been spent, then the employer also no longer has to pay. (4)
As an expat you have the advantage that you can opt for an international alternative. It is worth checking if you can be properly insured for less money.
Benefits of our insurance policies for expats in the USA
We work together with a few insurers, who among other things offer insurance for people who live in America. Some benefits for expats are;
also coverage for care in the Netherlands; useful when you are visiting family in the Netherlands
you can keep the insurance when you leave USA
also cover for reimbursement of additional travel costs if you have to return to the Netherlands due to family circumstances
less high deductibles
premium does not depend on the state in which you live. 1 premium is charged for the United States.
no co-insurance in addition to the deductible
can also be used when traveling, for example on holiday in Thailand
no maximum reimbursement for visiting the doctor or prescribed medication
The same 45-year-old man, who lives in NY, is already insured through us for € 490 ($ 570) per month with a deductible of € 500. A saving of around $ 1500 per year. And that with insurance that is also compatible with the Affordable Care Act (ACA).
Gouda Expat package USA policy
This package contains various components, including of course medical costs & SOS. If you are not yet 61, you can apply for this insurance and remain insured until the age of 67. The insurance ends at the age of 67. This Dutch insurer has put together a special package that meets the requirements set by the Affordable Care Act (ACA). The enforcement of these requirements varies from state to state and, given the plans of the current president, it is difficult to estimate how strictly controls are being carried out. A check should not cause any problems with this insurance.
Living abroad insurance
This Dutch insurer has a different solution to prevent people from having to pay fines during an inspection. In contrast to the Gouda Expat package, this insurance does not meet the ACA requirements. At a check you could get a fine, but the insurer takes care of the payment of that fine. Even with this insurance, a check does not have to be a problem. You can apply for this insurance regardless of age and once accepted you can keep the insurance for the rest of your life.
Of course we can soon tell you much more about the insurance policies and offer a personal quote.
After Open Enrollment?
You may not be reading this until December 15, 2017. As far as I know, the possibilities in the USA are very limited once the Open Enrollment period is closed. Unless someone is eligible for Medicare or Medicaid, for which people can apply all year round.
When searching in the US n
If you have an insurance policy after the Enrollment period, you will mainly come across Short Term Insurance plans. Beware this. These insurances have no obligation to insure someone and may therefore choose not to extend the insurance. This becomes a problem if you have become very ill or have had an accident. Many insurers use a maximum amount that they reimburse, “per life”. This way you run the risk that the maximum reimbursement has run out while you are still in a treatment process. You may be fined because you do not meet the requirements set by ACA. (5)
Even after the Enrollment period, it is better to ensure that the insurance is satisfactory. JoHo Insurances is happy to advise you during Open Enrollment, but also outside of it.
Developments in the USA with a view to health insurance
I will not tell you anything new when I say that there is much to do about health care (insurance) in America. We monitor developments and find it interesting to follow whether Trump’s plans are being implemented and in what form. It is quite conceivable that the system will change enormously in the coming years. You may have arranged a US health insurance policy with all Essential Benefits (as laid down in the ACA), but those reimbursements will expire within a few years. If you are not healthy at that time, it may be impossible to insure yourself again. By arranging insurance yourself and keeping it in your own hands, you are less dependent on local legislation when it comes to the treatments that you can get. A nice idea right?