Do-It-Yourselfers Face Penalties Over Their Cut-Rate Health Insurance

Piecing together inexpensive insurance plans could come with a hidden cost.i

Piecing together inexpensive insurance plans could come with a hidden cost.

Leigh Wells/Ikon Images/Corbis


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Leigh Wells/Ikon Images/Corbis

Piecing together inexpensive insurance plans could come with a hidden cost.

Piecing together inexpensive insurance plans could come with a hidden cost.

Leigh Wells/Ikon Images/Corbis

Last fall, Shalonda Brown decided she’d had it with paying nearly $1,000 a month for family health, dental and vision plans through her job at an independent lab in Dallas.

Casting about for an alternative, she checked out individual family plans on HealthCare.gov. No dice. The family’s income was too high to qualify for subsidies and comparable coverage wouldn’t be any cheaper.

So Brown instead cobbled together three different policies that each provide limited coverage for her, her husband and 2-year-old daughter: a short-term plan with a $10,000 deductible that provides up to $1 million in coverage for just under a year; a critical illness plan that pays a $20,000 lump sum if one of them is diagnosed with invasive cancer, heart attack or stroke; and a dental plan that provides $1,000 in

Article source: http://www.npr.org/sections/health-shots/2016/01/27/464422101/do-it-yourselfers-face-penalties-over-their-cut-rate-health-insurance?utm_medium=RSS&utm_campaign=affordablecareact

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