Today, March 28, 2017, marks the last effective date for short-term medical plans that last longer than three months. The next effective date for short-term plans is April 1st, but the plans will be limited to a 3-month duration. Due to government regulations, short-term plans can only be sold up to 90 days. Not only are short-term plans restricted to 3-month periods, but they are also non-renewable. This means that you write your clients for three-months and then rewrite them for another three months with another carrier. This makes your job as an agent a little more difficult. However, short-term medical plans offer great commissions right now. Additionally, there are several great products with several great carriers.

One of the few alternatives to a short-term plan outside of open enrollment is a qualified plan through an special enrollment period (SEP). However, not many qualify for an SEP. Regardless of an SEP, people still want coverage and need health insurance. The best strategy is to get clients a 90-day short-term plan with another plan through another carrier available for them to after their coverage expires. This requires being contracted with several carriers offering short-term plans. Luckily, Empower Brokerage offers several options in the short-term market to agents. Give us a call today to find out more about the best products in the short-term market!

If you have any questions, please call us toll-free (888) 539-1633.