Short Term Health Insurance
If you need health insurance ASAP, but you’re only going to need it for a few months to a year, then you need short term health insurance.
Don’t Go Without Coverage
If you are considering going without health care insurance for a while, then you better be a healthy and safe person. A gap in insurance coverage of just 2 months can make you financially liable for any pre-existing medical conditions you have. By law, as long as you maintain insurance coverage, any group plan you join has to cover your pre-existing conditions. But if you allow a gap in your coverage – if you go without any coverage for just 2 months – then the law says your new employer’s health care provider can deny payment to you for pre-existing conditions. Considering that short term health plans are relatively cheap anyway, why risk being on the hook for literally tens of thousands of dollars going forward?
Who Buys Temporary Health Insurance?
Temporary health insurance plans are for those who need short term coverage between life events. Perhaps you are recently unemployed and need coverage until you find new employment. Many people buy these plans as an alternative to COBRA, which can be very expensive. If you’ve switch jobs, but need to wait 90 days for your new insurance to kick in, temporary plans are perfect for you. Also people close to retirement may purchase these plans as a bridge to medicare. Whatever your situation, these plans are a stop gap measure to get you through to your next long term health plan.
Whereas long term plans can often take weeks to implement, most temporary health insurance providers can start coverage within a business day. You can even get instant quotes online right now, from companies like eHealthInsurance.
What Does It Cost?
Short term, or temporary plans, are designed for people that need coverage for a relatively short period of time. These plans are often less expensive then a typical long term plan. With a long term plan, the policy is extended indefinitely as long as you pay the premiums. The premiums can rise, but can’t change based on your claim activity. With temporary insurance, your policy has an expiration date. After that date you may be able to renew the policy, but the insurance company can then take into account any claims you have made when offering you the new quote. Short term plans are often cheaper because health care providers know they will not be on the hook for long term costs.
You can minimize your monthly premium buy selecting plans with higher deductibles or higher coinsurance. Some providers will also give you a discount for paying the plan’s entire premium up front, rather then in monthly installments.
Depending on your age, location and medical history, some plans can be had for less then $30 a month. They won’t have small deductibles, but they will keep you insured and protected from losing future coverage of pre-existing conditions or conditions your develop while under the plan. Plans that cover a greater portion of your out of pocket costs will be more expensive.
If you want to buy short term health insurance, you should start by looking over the different quotes health plan providers will offer you. There can be a wide range of prices and coverage levels. Ehealthinsurance is an excellent place to start. There is no obligation for quotes, all info is anonymous until you apply for a specific plan, and their customer service is very helpful when it comes to answering specific questions you may have.