The ColoHealth Health & Wealth Newsletter
October 2022
Vol. 12, Issue 17

What If I Want to Switch Back to Health Insurance? 

With most of our customers, once they discover the many advantages of health sharing organizations and direct primary care over traditional health insurance, they never look back!

It’s not just the 40-50% monthly savings you routinely get compared to the unsubsidized cost of traditional health insurance.

It’s not just the ability to ditch the insurance company’s narrow networks and go to whatever doctor, clinic, or hospital best suits your needs. 

It’s not just the deep discounts on commonly prescribed generic drugs.

It’s also the more positive control overall healthcare experience you can get when you’re presenting yourself as a cash payer (with the backing of a quality health sharing organization, of course!)

It’s being able to sit down with a doctor who has time to listen to you, and discuss your medical needs in detail. Because direct primary care plans allow doctors to reduce overhead and carry a reduced patient load. So they have more time for you.

It’s being able to share healthcare expenses with others who share our values.

It’s getting away from government control and government mandates, like forcing insurance carriers (and by extension, their policyholders) to pay for objectionable procedures like elective abortions and sex change operations on minor children.

It’s being empowered to take more direct control of your health care, and make the choices you want to make.

That said, health sharing isn’t a great match for everybody. Sometimes, despite the shortcomings of the traditional health insurance model, insurance is the most appropriate solution.

Especially when it comes to high deductible health plans combined with Health Savings Accounts, or HSAs. These two products can be a very effective combination for some customers.

That’s why we carry a broad range of traditional health insurance plans from top carriers, alongside our other healthcare solutions. So we can match you up with the very best health care strategy for your specific, individual needs.

Why You Might Consider Switching Back to Traditional Health Insurance

 Life happens. Sometimes a customer’s income takes a hit, or there’s a layoff, and now they will qualify for a significant subsidy via the Affordable Care Act.

Also, some people with preexisting conditions may want to switch back because traditional health insurance plans have to take them during open enrollment period, regardless of their medical condition. Health sharing plans may restrict benefits for those with pre-existing conditions.

Also, health sharing plans are most efficient for those who are currently in good health. They are primarily designed as catastrophic plans. If you have a chronic medical condition or other ongoing health care needs, in some circumstances you may save money or have better access to care with a traditional health insurance plan – especially if you qualify for a subsidy.

Don’t Miss the Open Enrollment Deadline!

If you believe you may be better off in a traditional health insurance plan, rather than a health sharing organization, you’ll need to make the switch during the annual health insurance Open Enrollment Period. In most states, that period starts November 1st and runs until December 15th.

Subsidies are based on your income level. If your income is relatively low, it’s even more important to heed the Open Enrollment Period, because you may not be able to sign up later in the year.

If you do switch during Open Enrollment, your new insurance plan won’t take effect until January 1st. So you should keep your existing health sharing plan and/or direct primary care plan in place until then. 

Let’s Talk it Over!

At HSA for America, we do what’s best for you. Every time. But let’s take a good, careful, expert look at your situation before you make the switch back to insurance, and make sure it’s the right thing for you and your family.

As always, we’re able to get the lowest rates available on any health insurance or health sharing solution.

And there’s never any charge for our services.

P.S. Just chat up your Personal Benefits Manager, and schedule an appointment to review all your options. You can use the PBM’s phone number you already have, or schedule an appointment here.

Don’t wait until the last minute! October through December 7th is the busiest time of the year for all our Personal Benefits Managers, as thousands of people are trying to get in their plan changes for the Obamacare Open Enrollment Period and the Medicare Open Election period, which overlaps it. Our calendars fill up fast!

To Your Health and Wealth,

Wiley P. Long III
President- ColoHealth

The ColoHealth Health & Wealth Newsletter is published monthly and emailed to subscribers at no charge. Subscribe now to stay on top of the critical information you need to know about health insurance, healthshare plans and managing your finances to achieve financial security.

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