Are you currently not insured and looking for health insurance that is cost-effective and efficient? Short-term health insurance might be the answer for you. In this article, we’ll discuss everything about it; short term health insurance definition, coverage, costs, qualification requirements, and more.
What is short term health insurance?
Short-term health insurance, also known as term insurance, refers to a temporary plan that can last from a few months up to a full year and can be renewed upon expiration. These plans are gaining more popularity due to their coverage and cost-effectiveness.
What does short term health insurance cover?
With short-term health insurance, you can get your essential medical needs covered, including but not limited to; hospital care, doctor visits, emergency services, ambulance, and treatments in case of an illness. While some newer plans do cover prescription drugs not tied to pre-existing conditions, this is not usually the case; in most cases prescription drugs are not covered. Also, these plans come with a list of uncovered conditions that you should be familiar with if you are considering purchasing a policy.
What is not covered by short term health insurance?
Pre-existing conditions, preventive care, prescription drugs, and maternity care are not covered. If you have one or more of these conditions, you might be denied enrollment, or you may be able to purchase a plan with your condition being excluded from your coverage entirely.
Is there a deadline for short term health insurance?
Unlike traditional types of protection, short term health insurance can be applied for all year round, so you won’t have to adhere to stressful deadlines. Once you apply for a plan, you can get your coverage started immediately. You can also cancel your plan at any point without having to pay a penalty, no questions asked.
How much does short-term health insurance cost?
Insurance carriers provide short-term policies at different prices. While the exact amount you pay for your monthly premium might differ from a carrier to another, these plans are significantly less costly than their longer-term counterparts.
Is short term health insurance right for me?
If you are in between jobs and waiting for employer-sponsored protection, do not qualify for Medicare or a more comprehensive type of coverage, or just looking for an insurance policy to be able to participate in a certain activity, health insurance for short term may be a great option for you.
Do I qualify for short term health insurance?
Short term health insurance qualification requirements are simple; you have to be a citizen or a legal resident of the United States and not have any one of the disqualifying conditions above. We also recommend you check your state laws as some states do not allow their residents to have short-term health insurance. States with restrictions include: California, Colorado, Hawaii, Massachusetts, New York, New Jersey, Rhode Island, Vermont, Connecticut, and New Mexico.
Is there a penalty for purchasing short term health insurance?
As of 2020, short-term health insurance policyholders do not have to pay an ACA non-compliance fee as these plans are no longer considered ACA non-compliant.
If you found the answers to your questions, we are glad we could be of help. We want you to know that our website eTermHealth.com aims to help you further if you want 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.