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    Why You Should Consider Portability in Your Health Insurance Plan

    Posted by Kevin Hall on Sep 8, 2023 10:58:50 AM

    As a digital nomad, entrepreneur, or self-employed individual, you have the freedom to create your own path and work from anywhere in the world. Living and working out of an RV or AirBnB comes with many perks. The resident Health Insurance expert at Insurance For Texans is among the population that lives this lifestyle. That would be me by the way. It has great appeal for many as technology affords us greater options in how and where we work from. However, when it comes to finding a health insurance policy it is important to keep in mind what your travel plans and doctor's care look like. Many people think that they have coverage from their health insurance provider but do not realize that crossing state lines can change everything with their current insurer in a hurry. Let's delve into what portability is and understand why it is so important for individuals like you on a health insurance policy.

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    Understanding Portability in Health Insurance

    Health insurance portability has two very distinct meanings for entrepreneurs and solopreneurs. The one that is most common to insurance companies is the ability to retain and continue your coverage when you move to a different state or even travel extensively. The second meaning is the ability to obtain routine care regardless of location. These work together to create a problem for folks like us.

    Traditional health insurance plans, especially those offered through the Affordable Care Act (ACA) exchange, are geographically bound to where your residence is listed. These health insurance plans typically have network restrictions that make it difficult or impossible to obtain routine care or care for chronic conditions when you are out of your home geographic footprint. This is a result of the plans only covering emergency care when traveling. If you do not have a home base, how does this work? Along with that, your current insurer may request or force you to obtain a new individual policy if it is determined that you are "residing" somewhere else for a prolonged period of time. This can present issues with special enrollment periods, waiting periods on coverage, and finding a new primary care physician in some circumstances. What can we do about it? Having health insurance is a requirement if we are going to remain financially solvent.

    Why You Should Consider Portability in Your Health Insurance Plan

    The great news is that there are insurance companies in the marketplace today that work to help solve this problem through private health insurance plans. These plans are designed to give you greater flexibility in how you received your health care free of network constraints and in a fashion that you prefer. At Insurance For Texans we leverage either a Catastrophic Health Insurance Policy or a PPO Health Insurance Policy that allows for broader usage with travel in mind. This allows you to select an individual policy that fits your needs if you can satisfy the underwriting requirements.

    Benefits of Portability

    Assuming that you've made it this far, you are likely considering what the ramifications of health insurance portability are for your desired lifestyle. While pre-existing diseases can prevent you from obtaining some of the policies mentioned in this article, it's important to understand the benefit of health insurance portability on both the way that you receive healthcare and your pocketbook.

    Continuity of Coverage

    One of the main advantages of portable health insurance is that it provides continuity of coverage. When you transition to a different state or travel frequently, you don't have to worry about canceling your old plan and enrolling in a new one. With a portable plan, you can seamlessly maintain your health coverage and avoid the hassle of starting over with deductibles and out-of-pocket maximums.

    Access to Care

    Having portability in your health insurance policy ensures that you can access healthcare services wherever you go without regard to waiting periods or referrals from physicians. Whether you require routine check-ups, non-emergency care, or assistance for a major medical emergency, a portable plan will ensure that you receive the necessary coverage regardless of your location.

    Direct Primary Care or Telehealth

    Many entrepreneurs and van life folks have discovered the phenomenal benefits of direct primary care. This is a direct relationship with a physician of your choosing who handles the vast majority of your healthcare needs. They are often able to handle many of your interactions virtually or over phone/text messages. This allows you to have a deeper relationship and handle needs quickly, efficiently, and cost effectively. For those who travel, this is an excellent way to stay on top of healthcare.

    Telehealth is a mechanism that some people leverage in a similar fashion. They use a stand alone telehealth provider network to take care of the majority of their needs. The big difference is that you will likely not have the same provider in each interaction. These two options work well with portable health insurance coverage that is not bound by networks or referrals.

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    Flexibility for Digital Nomads and Entrepreneurs

    For digital nomads and entrepreneurs who frequently move around or work remotely, having a portable health insurance plan provides the flexibility needed to maintain essential coverage. No longer constrained by geographic limitations, you can focus on your work and enjoy your life as you dream it up without worrying about your healthcare needs. And if you're doing this, you are likely going to enjoy the additional benefits of health insurance that is named not needing as much care since you will be more relaxed and have less need to use your health insurance.

    International Coverage

    One aspect that travelers do not often consider is how their health insurance policy behaves when they leave the country. Even if it is "just" Canada or Mexico. Your current policy likely does not afford much coverage, if any, when you leave the US Borders. The great news is that some health insurance companies offer international coverage when care is provided by a licensed professional in that country. This makes them highly accessible for frequent travelers who need the financial protection that comes from health insurance companies without the burden of sourcing multiple policies. If you find yourself frequently traveling outside of the country, having a plan that includes international coverage is essential for your peace of mind and ensures that you receive necessary medical treatment wherever you are.

    Get Help with Health Insurance

    Navigating the intricacies of health insurance plans can be overwhelming for digital nomads, entrepreneurs, and self-employed Texans. Especially when you are attempting to understand the benefits of health insurance portability for yourself. It allows you to maintain coverage while moving between states, traveling extensively, or living a location-independent lifestyle. By choosing a plan with portability features, you ensure continuity of coverage, access to care, and flexibility to focus on your work and travel endeavors without compromising your healthcare needs.

    Choosing the Right Plan

    When selecting a plan, it's important to consider your specific needs and circumstances. Evaluate the coverage options, network of healthcare providers, deductibles, co-pays, and overall costs to ensure that the plan aligns with your lifestyle and priorities. Insurance For Texans specializes in helping digital nomads, entrepreneurs, or self-employed individuals find the right health insurance plan tailored to your needs.

    Give us a call at 469-789-0220 or click the button below this article to start a conversation with our A Team of Health Insurance Wizards. One of which, lives in that RV down by the river himself!

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    Topics: health insurance, ACA, catastrophic health coverage, ACA Alternatives, Pre-Existing Condition, Obamacare, private health insurance, digital nomad, health insurance portability