Short term health insurance plans are temporary plans that last from a few months up to a full year and can be easily renewed. These plans are becoming more popular due to their low cost in comparison to their longer-term counterparts. In this article, we will cover their main aspects, such as what they are, how much they cost, what they cover, qualification requirements, latest updates, and more to help you make a more informed decision.
What are short term health insurance plans?
Short term health insurance plans also known as term health insurance plans, are temporary plans that are designed to help bridge the gaps in your coverage during a transitional period to more comprehensive protection. These plans are known for being cost-effective and efficient as they cover essential medical needs for a fraction of the price.
What does cheap short term health insurance cover?
Despite their low price-tags, cheap short term health insurance plans cover the essential medical needs most people require. These include, but are not limited to hospital care, doctor visits, emergency services, x-rays, and treatments in case of an illness. While most plans do not cover prescription drugs, some newer plans do offer prescription drug coverage for drugs that are not related to pre-existing conditions. If you are considering purchasing a short-term policy, it is important to note that there are some conditions that are not covered by these plans. Pre-existing conditions, maternity care, and preventive care are not part of the coverage. If one of these conditions apply to you, you might be denied enrollment, or at best, you may be able to purchase a plan with your uncovered condition being excluded entirely.
Is short-term health insurance right for me?
If you missed the Open Enrollment Period, are in between jobs and looking to bridge the gap in your coverage until you qualify for more comprehensive traditional coverage, short-term health insurance may be ideal for you.
How much do short-term health insurance plans cost?
While the monthly premium of short term health insurance quotes differ from one insurance carrier to another; these plans are significantly less costly in comparison with traditional health insurance plans.
Do I qualify for short-term health insurance?
Qualification requirements are not complicated at all. If you are a citizen or a legal resident of the United States, you can purchase your policy and get your coverage started immediately. You can also renew your plan once expired or cancel it at any point without paying a penalty.
Are there any other penalties associated with short-term health insurance?
As of 2020, short-term health insurance policyholders do not have to pay any penalties, because these plans are no longer considered ACA non-compliant.
Our website eTermHealth.com aims to provide those looking for short term low cost health insurance plans the knowledge needed to get them the coverage they are looking for through a speedy and seamless process. Our affiliates can provide coverage options and quotes for cheap short-term protection, getting you and/or your loved ones covered quickly with as little difficulty as possible.