Short-term health insurance also known as “Term Coverage” refers to a health insurance plan with a limited time period, usually from a few months to a year. One of the main short term insurance benefits is its low cost. Term policies are usually less costly than traditional longer term ones, however they do not cover pre-existing conditions. Premiums on short term plans are a fraction of the cost in comparison to major medical insurance premiums. There are advantages and disadvantages of short term health insurance of which we will cover below.
There are varying pros and cons for short term health insurance depending on each person’s specific situation. For example, in terms of the disadvantages of short term health insurance, those with pre-existing conditions may have trouble enrolling in a plan. People who have a longer term illness may be denied coverage. Additionally, if one acquires a long term illness during a term policy period, then the policy will most likely terminate at the conclusion of the it’s period. Also, some policies do not provide drug coverage, however newer plans may offer coverage for generic drugs not tied to pre-existing conditions.
The advantages of short term health insurance are plentiful. The essential health benefits of a short term plan include hospital care, doctor visits, and common treatments in case of an accident or illness. Term coverage is a great option for those in need of temporary insurance. The benefits of short term health insurance are aimed at people who need to bridge the gap between longer term plans with a temporary one.
Short term plans can be applied for anytime. Open Enrollment period deadlines do not apply as is in the case of Obamacare. Policies usually last anywhere between a couple months to a full year. If more coverage time is needed, policies can be renewed for up to 36 months. If you still require coverage after a policy’s expiration, you can simply apply and enroll in a new one (check with your state’s laws).
eTermHealth.com aims to help those looking for coverage to get insured as quickly as possible. Affiliates of eTermHealth.com provide quotes for cheap short term health insurance plans to get you the coverage you need quickly. Essentially, if you require term coverage, eTermHealh.com can help get you covered with as little difficulty and within as little time as possible.