There are several important reasons why people purchase limited medical (also known as mini-medical) plans. In summary; to save money, to access to “Guaranteed Acceptance” policy, and to supplement another plan which has high out of pocket expenses.
Here are a few possible scenarios:
- I do not qualify for a Special Enrollment Period to enroll in Major Medical insurance outside Open Enrollment: REALTORS® Core Health Insurance plans are available year round. You can enroll in this plan at any time, but it is important to remember that you may be subject to the federal tax penalty.
- I cannot afford traditional medical insurance: REALTORS®’s exclusive “guaranteed acceptance” plans will cover your everyday healthcare needs – but it’s important to recognize that they are not major medical insurance. REALTORS® Core Health Insurance offers limited medical plans that are affordable and available to everyone because they provide set and limited dollar coverage for each medical service needed.
- I have major medical insurance but it is too expensive: An excellent way to save on medical insurance is to supplement a major medical plan with a REALTORS® Core Health Insurance plan. We recommend that you keep your major medical plan but increase your deductible and buy a RCHI plan to complement your major medical coverage.
Why would you increase your deductible? Because a program such as RCHI’s Physician Only plan may offer equivalent coverage for your everyday healthcare needs (such as office visits and wellness visits) but at a much lower cost than your current coverage through your major medical plan – allowing you to change the terms of your major medical coverage and save money.