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Most Americans can sign up for affordable, short-term insurance. However, there are distinct differences between short-term health plans and standard insurance. Although temporary medical insurance provides coverage, they do not meet all the requirements of health insurance under the Affordable Care Act (ACA). Initially, the ACA restricted temporary health insurance young people and other Americans who could not afford standard health insurance. However, in 2019, the federal government changed that and made all U.S. citizens eligible for short term insurance.
What is a Temporary Health Insurance Plan?
Temporary medical insurance is an affordable, low coverage plan available to people yearly with the option of extending the plan twice. This means you could have temporary medical insurance for three years at most. This is quite the opposite of standard health insurance, which does not have time limits.
Short-term health insurance has specific features, including lower premiums, less coverage, and higher initial costs. In addition, some states do not allow short-term health plans, including California, New Jersey, New York, Hawaii, and Massachusetts.
An excellent way to think of short-term plans is they are valid for shorter periods than a standard health plan. Other states have restrictions on short-term health plans. For instance, temporary medical insurance in Illinois and Colorado does not last for more than six months. In addition, Washington, Delaware, Maryland, New Mexico, Vermont, and the District of Columbia allow only three months, non-renewable temporary health insurance.
What do Temporary Health Insurance Cover?
Your plan determines what temporary health insurance covers. The federal government allows insurance providers to create unique coverage plans without being restricted by regular health insurance mandates. Some of the services not covered by most temporary health insurance include substance abuse, mental health, maternity care, and outpatient prescription medication. Temporary medical insurance is an excellent choice for half the people in the U.S. who do not have Medicare or Medicaid.
More than a third of pregnancies in the U.S. are accidental. Therefore, women of childbearing age should consider the fact that pregnancy coverage is excluded from short-term plans.
How Much Does Temporary Medical Insurance Cost?
The more benefits a temporary health insurance provides, the more it will cost. However, you can get temporary health insurance for about $100 per month. This is much lower compared to the average cost of standard health insurance, which is $400.
Who Can Get Temporary Medical Insurance?
Temporary medical insurance is available to all U.S. citizens. Anyone can get short-term health insurance provided they do not have pre-existing health conditions. Although short-term health insurance can provide some coverage, their initial cost can be relatively high. In addition, temporary medical insurance may not be the best option for people planning to start a family.
Tips for Temporary Health Insurance
Consider various factors if you are thinking of buying temporary health insurance. Please read the fine print carefully to learn more about what the plan covers and what it does not cover. In addition, find out the out of pocket costs of the health insurance.
Compare the costs of different providers before settling for one. Please visit fasthealthquotes.com for additional information about the costs of temporary medical insurance.
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