Short Term Medical Insurance
Does short term medical insurance work for you? If it’s for a temporary medical coverage plans, then yes. However, short term health insurance coverage has limited coverage, it won’t cover your pre-existing conditions. Typically, they do not cover maternity care or mental health. Short term medical insurance is intended for short periods only. Most are sold in few months increments for up to 364 days, maximum. Also, short term medical insurance is non-renewable, this means you’ll need to go through the application process when your coverage period expires if you want to continue coverage. The downside of this is, claiming during the coverage period may result in higher premiums on a new policy.
Here are some situations when a short-term policy makes a lot of sense:
- Lost your job and waiting for benefits to begin at a new job
- Have enrolled in the Affordable Care Act (ACA) coverage but are currently in your waiting period
- Missed out on signing up for the Open Enrollment Period and don’t qualify for Special Enrollment but haven’t had a qualifying life event.
- You are looking to enroll in same-day health insurance for yourself or your family.
- If you are in good health, and other health insurance options are out of your price range.
- You are no longer covered under your parent’s insurance. In Addition, uninsured recent college graduates who are waiting for an employer-sponsored medical plan.
- You are a retiree waiting on your Medicare benefits to begin
RETAILER INSURANCE COVERAGE
Since it’s meant to be temporary, it is only helpful to bridge the gaps in healthcare coverage. But despite myriad downsides, more people are turning to short-term coverage plans. Here are some of the benefits of a temporary medical insurance plan.
Affordable and Budget-Friendly
Temporary health insurance policy typically costs quite a bit less compared to ACA health insurance plans. But, keep in mind that short term health insurance does not provide the same medical benefits and services compared to traditional health insurance
You can choose to spend on coverage that you actually need. Also, most short term health plans allow you to see nearly any provider of your choice
Application approval process takes only a few minutes. You can enroll in a Short Term Health Insurance plan at any time during the year and coverage can begin as soon as the next day.
Short term health insurance deductible and premiums typically cost quite a bit less than marketplace plans. However, it does not provide all the same medical benefits and services.
When you longer need the healthcare coverage, you can cancel at any time without penalty.
Don’t risk going without health insurance, have health insurance at all times. NEWS Insurance makes finding short-term health insurance quotes easy by working with a wide range of Health Insurance companies. We will help you find the best healthcare solutions and affordable short term health insurance plans. Compare short-term health insurance quotes and find an affordable health insurance plan for you and your family.