Short-term health insurance refers to a temporary plan that can last from a few months up to a full year with renewability options. These plans cover essential medical needs and save policy-holders a lot of money for the benefits received. In this article, we will discuss the benefits of short term health insurance, disadvantages, restrictions, and updates.
What are the benefits of short term health insurance?
Short term health insurance benefits include, but are not limited to hospital care, doctor visits, emergency services, x-rays, ambulance, and treatments in case of an illness. These plans can be renewed once expired, and can be canceled at any point without a penalty.
What are the disadvantages of short-term health insurance?
While short-term health insurance covers essential medical needs, it comes with a list of uncovered conditions. Pre-existing conditions, maternity care, prescription drugs, and preventive care are not typically covered by short-term plans. If you are planning to purchase a short-term plan with one of these conditions; you might be denied enrollment or you may be able to get enrolled in a plan with your condition being excluded from the coverage entirely. Short-term plans are not for everyone and are not meant to replace their longer-term counterparts; they are considered to be a temporary option for those looking to bridge the gap of going uninsured.
Is short-term health insurance right for me?
If you do not qualify for a more comprehensive type of coverage such as Medicare, are in between jobs and waiting for employer-sponsored protection, or just want to purchase an insurance policy to be able to participate in a certain activity; short-term plans may be a great option. Other than that, you may want to consider looking for more comprehensive/traditional plans.
Do I qualify for short-term health insurance?
If you do not have any of the uncovered conditions above, are a citizen or a legal resident of the United States, you can purchase a plan and get your coverage started immediately. It is important to note that some states have restrictions on short-term health insurance. These states include: California, Colorado, Hawaii, Massachusetts, New York, New Jersey, Rhode Island, Vermont, Connecticut, or New Mexico. We recommend you check your state laws and ask your insurance carrier if any limitations apply to your state.
If I purchase a short-term health insurance plan, do I have to pay an ACA non-compliance penalty?
As of 2020, short-term health insurance policyholders do not have to pay a penalty; these plans are no longer considered ACA non-compliant.
Do you need to know more about short-term plans? eTermHealth.com aims to help those trying to understand what short term health insurance is used for, and those looking for coverage to get insured as quickly as possible. Affiliates of eTermHealth.com provide quotes for cheap short-term protection to get you the coverage you need. Ultimately, if you need a plan, eTermHealh.com wants your coverage to commence with as little difficulty and within as little time as possible.