short term health insurance plans" />Short-term health insurance is an alternative to the Affordable-Care-Act health insurance plan. The plan is not under the regulation of Obamacare and does not offer comprehensive benefits such as maternity or preventive care. Although their monthly premium is less when compared with other health plans, it will cost you extra cash to cater for some medical expenses.
The insurance period varies from 12 months to 3 years renewable cover. They cover high medical costs but exclude annual check-ups and well visits. In addition, some short-term policies will not cover specific conditions. For example, a pregnant woman or spouse may not qualify.
The significant problems with the short-term policies are their exclusions and restrictions. These include restrictive maximum limits, no cover for essential benefits or pre-existing conditions, and high co-pays. With these differences among plans and restrictions, caution is vital when buying a short-term policy.
Despite all challenges, some situations will force one to buy the short-term policy.
Employer waiting period
A new employee may need to wait up to 90 days before qualifying for Employer-sponsored health insurance.
Paying for a short-term policy of one month could be worth the premium. It could amount to one-third the cost of the significant health insurance premium. Details of the plan can be customized to your needs. Also, there is no waiting period. Coverage begins Within 24 hours of paying your first monthly premium.
Filling a gap between employer coverage and a new job
It is wise to get temporary health insurance while waiting to secure a job with benefits. Unexpected medical bills can ruin your finances down more than you expect. With short-term health insurance, you can get benefits such as emergency room visits, inpatient and outpatient services, ambulance services, surgical services, and intensive care units.
Missed open enrollment
Suppose you miss the open enrollment period due to indecisiveness or challenges of affording Obamacare. Enrolling in a short-term medical plan will give you peace of mind until changes in circumstances allow you to get a better medical plan. The plan can afford you unplanned surgery or emergency room services, even though not compliant with Obamacare requirements.
Early retire yet not qualified for Medicare.
Consider buying a short-term medical plan if there is little time between your Medicare eligibility and early retirement. This can occur where a spouse qualifies for Medicare, but the other spouse does not but needs a cover until Medicare is ready. However, if you have a pre-existing condition, temporary coverage may not be a solution.
When not obligated to Obamacare
You cannot risk your future just because your state no longer requires people to buy health insurance. Although a short-term insurance plan might cover pre-existing conditions and preventive health care, it will cater for serious illnesses, hospitalization, injuries, and surgeries, among other potentially expensive medical care. With the short-term medical plan, you can choose your doctor. In addition, most hospitals and doctors accept short-term health insurance. Apply online and enroll in a short-term health insurance plan. You will be covered within 24 hours of paying the initial amount.
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