By a News Reporter-Staff News Editor at Managed Care Weekly Digest -- As a large percentage of enrollees express dissatisfaction with their Obamacare coverage, AgileHealthInsurance.com is seeing growing interest in term health insurance plans. For millions of people, term health insurance plans can represent a more affordable option than Obamacare or a bridge to this year's Obamacare enrollment period.
Dissatisfaction among Obamacare enrollees is a significant health care issue. According to a recent study from the Deloitte Center for Health Solutions, only 30 percent of Obamacare exchange enrollees are satisfied with their current plans. This satisfaction level is significantly lower than satisfaction levels among enrollees in employer health plans, as well as enrollees in Medicare and Medicaid.
Price is a key driver of dissatisfaction with Obamacare plans. According to the Deloitte survey, 35 percent of dissatisfied Obamacare marketplace enrollees felt they were paying too much for their plan. In addition to making premium payments, enrollees in Obamacare plans can also pay high deductibles unless they qualify for cost-sharing subsidies or pay for a high-end gold or platinum plan.
Consumers also complain their Obamacare plans do not include broad enough provider networks. A study by Avalere recently revealed that Obamacare plans offered on exchanges created by the Affordable Care Act have 34 percent fewer providers than commercial plans offered outside exchanges. If consumers' preferred doctors or hospitals are out of network, they face the possibility of paying full price to see them.
In response to Obamacare dissatisfaction, some consumers are turning to term health insurance plans. Term health insurance premiums for 30-year-olds, for example, are over 70 percent less expensive on average than premiums for unsubsidized Obamacare bronze plans. Moreover, term health plans are known for very wide provider networks. Enrollment in these plans can be done throughout the year, as opposed to predefined enrollment periods.
"We have seen a steady rise in consumers shopping for term health insurance plans," said Bruce Telkamp, CEO of AgileHealthInsurance.com. "The popularity of term health insurance is increasing as consumer awareness of its cost advantages becomes better known."
It is important for consumers to know term health insurance represents a distinct category of health insurance and has unique characteristics differentiating it from Obamacare coverage. Consumers have to apply, and, depending on their health status (including pre-existing conditions), they can be rejected. Additionally, with term health insurance, consumers may still be subject to the Obamacare Tax. There are exemptions to the tax, however, and even if consumers do have to pay it, they may still save money with term health insurance.
AgileHealthInsurance.com provides a free rate comparison tool that allows consumers to review plans, benefits and costs online. They also can enroll online if they find a plan that meets their needs (see also Medical, Healthcare).
Keywords for this news article include: Medical, Healthcare, Legal Issues, Health Insurance.
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