By Boettcher Insurance Agency
Beginning January 1, 2025, short term limited duration health insurance policies will no longer be allowed in Illinois. Under Public Act 103-0649, insurance companies operating in Illinois are prohibited from selling or renewing short term limited duration policies to Illinois residents. This change means that if you’re currently on a short-term plan, your coverage will end by year’s end, and no extensions will be available.
What’s Affected?
• New short-term limited duration policies
• Renewals of existing short-term limited duration policies
This prohibition does not apply to certain “excepted benefit” policies, such as travel insurance or hospital indemnity insurance. If you rely on short-term insurance and are looking for new coverage options, now is the time to reach out to us.
Options Moving Forward
Our agency offers individual health insurance plans that provide continuous and comprehensive coverage. We also offer hospital indemnity insurance, which can help cover costs related to hospital stays and certain treatments. These plans are structured to be long term solutions, giving you peace of mind without the uncertainty that comes with short-term policies.
Why It Matters
Short-term insurance plans have traditionally been used to fill gaps between coverage, but they often lack key benefits. With the rising healthcare costs, securing a long term health plan can provide much-needed security. For example, studies show that individuals on comprehensive health plans experience better overall health outcomes, especially when compared to those relying on short term coverage.
Our team is here to help guide you through this transition. If you have questions about individual insurance or hospital indemnity plans, feel free to reach out. We can help you find a plan that fits your needs and keeps you covered well into the future.
