Short Term Health Insurance

Short-Term Health Insurance: What You Should Do

A short-term health insurance policy is one that provides coverage for one year or less. These plans vary from individual health insurance policies in terms of length, renewalability, and coverage. As a result, short-term health insurance is typically used to bridge the gap between other full-benefit health insurance plans such as person or group.

What is the concept of Short-term Health Insurance?

A Short-term Health Insurance policy is one that covers basic treatments and costs including primary care checkups. During the application process, you will be asked questions about your medical history. As a result, unlike private health insurance, a temporary health plan is not guaranteed, which means you may be refused coverage if you have a pre-existing condition or may not meet the insurer's health requirements. When compared to full-benefit benefits like consumer or corporate health insurance, these plans typically offer less coverage but can cost up to $300 less. Short-term Health Insurance plans are not necessary to cover the ten basic health benefits mandated by the Affordable Care Act for private health insurance (ACA). When comparing temporary policies, make sure to carefully check the benefits and package specifics to ensure that you are getting the coverage you need.

Laws governing Short-term Health Insurance

Federal regulations limit the duration of Short-term Health Insurance to 364 days and the number of renewals to three. This ensures that you will be eligible to get a Short-term Health Insurance policy for a period of three years. Specific states, however, have developed their own rules about the average length of Short-term Health Insurance coverage. The following states have enacted such legislation:

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How do I get Short-term Health Insurance?

Most health insurance providers, including UnitedHealthcare and National General, sell Short-term Health Insurance policies. However, while short-term plans are available in the majority of states, there are certain regions where you may be unable to obtain this form of coverage. The states mentioned below have legislation that makes the selling of Short-term Health Insurance illegal.

• California

• Colorado

• Hawaii

• Massachusetts

• New York

• New Jersey

• Rhode Island

• Vermont

• Connecticut

• New Mexico

Why would I buy medical insurance for short periods?

Short-term Health Insurance can be used to bridge the coverage gap before you can select a longer-term health insurance plan. As a result, it is a stopgap measure that may be used in the following scenarios:

• Employer health benefits waiting time

• Unemployment

• Open registration missed

• May not qualify for a special enrollment period (SEP)

• Students in college that need coverage during the academic year

• Aging out of a plan for a parent

• Coverage needed prior to starting Medicare