Short-term health insurance, also known as ‘term insurance’ refers to a temporary health insurance plan that lasts from a few months, up to one year with the possibility of renewal upon expiration. In this article, we will explain it further and cover some other information such as its qualification requirements, coverage, costs, and more.
Short-term health insurance is immediate. Unlike plans under the Affordable Care Act, these immediate short term health insurance plans can be applied for all year round and applicants do not have to adhere to stressful Open Enrollment Period deadlines. Once you apply, you can have your health insurance start immediately.
With immediate health insurance coverage, you get your essential medical needs covered. This includes, but is not limited to doctor visits, hospital care, x-rays, ambulance and emergency services, as well as treatments in case of an accident or illness. These plans do not cover prescription drugs, however, some newer plans do cover drugs not tied to a pre-existing condition. Temporary short term health insurance coverage does not include pre-existing conditions, maternity care, and preventive care. You might be denied enrollment if one of these conditions applies to you, or you may be able to enroll in a plan with your condition excluded. This is why it is important to note that these plans are not meant to replace their longer-term, more comprehensive counterparts and may not be the ideal choice for everyone.
Short term health insurance can be a great option to get you the protection you need. If you are waiting to qualify for more comprehensive coverage like Medicare, are in between jobs and waiting for employer-sponsored health insurance or want some type of coverage to be able to participate in a certain activity, short-term coverage may be the right option for you.
Qualification requirements for this type of insurance are not complicated at all. One has to be a citizen or a legal resident of the United States to be able enroll in a plan. Some states do not allow short-term health insurance like California, Colorado, Hawaii, Massachusetts, New York, New Jersey, Rhode Island, Vermont, Connecticut, and New Mexico.
Other advantages of short-term health insurance include its flexibility; these plans can be purchased and canceled at any time without having to pay a penalty. Short-term coverage is no longer considered ACA non-compliant as of 2020. Therefore, no penalties have to be paid for not having ‘minimum essential coverage’.
Lastly, short-term policies do not have a standard monthly premium nationwide. Carriers offer short-term health insurance at different prices. But in general, short-term health insurance is significantly less costly than longer-term comprehensive coverage.
Do you still need to know more about short-term health coverage? 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 quickly. Ultimately, if you need a plan, eTermHealh.com wants your coverage to commence with as little difficulty and within as little time as possible.