President Donald Trump's new, cheaper healthcare plans are now available starting Tuesday. It’s part of his promise to offer people more affordable choices. However, there's a catch.
“They should be very, very careful about what are they purchasing, because the benefits will be limited compared to what they may think they need,” says Bill Hoagland, with the Bipartisan Policy Center.
For example, the new plans do not have to cover people with pre-existing conditions, maternity care or prescription drugs.
While the monthly cost might be cheaper, experts at the Bipartisan Policy Center say it could end up costing more in the long run.
“They carry with them a high deductible,” explains Hoagland. “In some cases, I think the $80 plan that I saw also carried a $15,000 deductible.”
Experts say the plans are best suited for younger, healthier people and are only meant to be short-term.
People can now be covered for up to a year but then they have to renew. Previously, the short-term coverage only lasted up to three months.
If you're interested, do some research.
“The choice is there. It's available. But compare,” suggests Hoagland. “Look at the benefits that are being provided under these short-term limited duration plans. Look at the cost, particularly look at the deductible, but then I would compare. Compare and shop is, I guess, the best thing I can say."
