If you want to understand short-term health insurance, a great place to start is with our new eBook, 3 Steps to Understanding Short-Term Health Insurance.
Short-term insurance is health coverage generally available for periods of 30 to 90 days. In some cases, with some insurers, short-term medical care is available for up to 12 months. These plans may provide you with some protection for limited periods while you’re within standard health insurance coverage, also known as major medical insurance.
Reading: What does short term insurance mean
Short-term plans generally have lower premium prices than major medical plans. but, short-term plans generally offer more limited coverage than major medical coverage.
what short-term plans cover
Short-term plans typically cover:
- unexpected illnesses and injuries
- Hospital inpatient and outpatient services
- emergency room visits
- missed open enrollment for the year and does not qualify for a special enrollment period
- lost your job or got fired
- need quick proof of insurance for a special activity or trip
- are waiting for their medicare coverage to start.
Short-term coverage may also include discounts for using doctors and facilities within a preferred network.
You are generally responsible for paying a deductible and coinsurance and may be subject to a lifetime coverage limit.
The exact coverage and benefits offered by a short-term plan depend on the particular policy and insurance company you choose.
what short-term plans don’t cover
Short-term health plans generally do not cover pre-existing conditions, preventive care, pregnancy and maternity care, immunizations, dental appointments, vision care, foot care, and certain other services.
You should always check the details of your specific plan to see what medical conditions and treatments are covered or excluded.
when short-term plans may be appropriate
Short-term policies are not intended to be permanent health insurance coverage, nor do they comply with the Affordable Care Act (see below).
Short-term plans may be appropriate if:
You can purchase short-term insurance for periods ranging from 30 days to 12 months.
short-term plans are not guaranteed issue; You will be asked to answer a medical questionnaire about your health status and history, and your coverage will depend on your answers.
again, short-term plans are generally not suitable for people with pre-existing conditions as they are not covered.
is short-term health insurance the same as obamacare?
Short-term policies do not meet the minimum essential coverage requirements under the Affordable Care Act (ACA), also known as Obamacare.
obamacare major medical plans offer minimum essential coverage, including (but not limited to) preventive care, outpatient care, pregnancy and maternity, mental health, and prescription drugs.
Because short-term plans don’t offer this coverage, you won’t be eligible under the Affordable Care Act; this means you may have to pay a tax penalty.
short-term insurance coverage supplement
If you are concerned that short-term insurance may not provide enough coverage, you can purchase additional catastrophic insurance plans to supplement your short-term policy.
For example, accident insurance may provide coverage for certain accidents and injuries, and critical illness insurance may provide you with a lump sum of cash if you are diagnosed with certain serious illnesses. and fixed benefit indemnity health insurance can provide you with a cash payment for covered medical needs.
cash payments from catastrophic insurance plans can provide you with a way to pay medical bills and replace lost income in the event you experience a covered claim.
As you can see, there are many health insurance coverage options to give you and your family peace of mind. start exploring our short term insurance plans now.