We are not the government. We are not a health insurance company. Instead, we work with multiple health insurance providers and brokers, making it easy for you to compare several options -- all in one place.
Short Term Health Insurance is focused coverage for a set amount of time. It helps to provide a bridge of coverage while in times of transition. The plan can have similarities to an HMO, PPO, or Comprehensive, but the focus is on the length of time that coverage is provided.
Perks of Short Term
The insurance coverage begins and ends on a designated timetable. It can be purchased one day and be active in the next one. There are no waiting periods for the insurance to be active. This is helpful for those who are in-between employments, have missed Open Enrollment time periods, recently divorced, newly graduated from school, or waiting for Medicare (or another insurance) to begin.
Short Term Health Insurance can have varying levels of deductibles, and some have co-pay options for doctor’s offices and prescriptions. It can utilize a PPO/HMO network, or it can be any doctor of your choice. Also, Short Term Health Insurance can be very similar to Comprehensive Health Insurance in that everything is covered, or it can focus on emergency symptoms only.
Typically, Short Term Health Insurance is cheaper on a monthly basis as compared to PPH or HMO plans, but it is not guaranteed on a yearly basis.
Points to Notice for Short Term Health Coverage
These plans are not under the Affordable Healthcare Act (ACA). So pre-existing conditions are not covered, and some do not have prescription plans associated with them. Yearly physicals and immunizations are typically not covered.
Health coverage is not guaranteed, and applying for coverage may incur a fee. Additionally, there may be a tax penalty associated with the Short Term Health Insurance plans because they are not under the ACA.
Short Term Health Insurance is good for the in-between times of life and provides peace of mind if the unthinkable occurs. It is not suitable for the long-term but helps to provide health insurance when it is needed.