What is Short Term Health Insurance or Temporary Insurance?
Short Term Health Insurance
is health insurance that just lasts for a certain period of time and offers you protection against unexpected health care expenses. Short term medical insurance is often a lower cost alternative to COBRA. You can get coverage for unexpected illnesses, and routine doctors visits. You can get coverage as soon as the next day by answering a few simple questions about your health. Short term Health Insurance is often a low-cost alternative to temporary health insurance or even COBRA insurance.
How does
Short Term Health Insurance work?
A short term health insurance policy is like an “Indemnity” plan in which you generally have the freedom to go to any doctor or specialist you like. Most plans do require pre-certification prior to using coverage.
Surgeries, hospital care, emergency services, diagnostic test, prescription drugs, follow-up office visits and even limited mental health care are usually included under most short term health insurancepolicies. Most short term health insurance policies do not cover routine preventative care such as physical exams, immunizations and PAP tests. This insurance will not pay unless you’ve actually suffered an illness or injury for the first time during policy period of coverage. Short term health insurance is designed for healthy individuals in transition.
Who needs Short Term Health Insurance or Temporary Health Insaurnce?
Part-time and temporary employees, people between jobs after their COBRA insurance terminates, recent college graduates no longer cover on their parents plan and those losing dependent status under their parents health insurance.
One of the major appeals of short term health insurance is its low premiums. The reason the premiums are so low is because the policies do not pay for pre- existing conditions. The short term plan establishes pools of healthy people and families, each of whom will need the coverage for only a short period of time. Given the low risk characteristics of the group, it stands to reason that the cost of the insurance remains low due to people having lower claims.
Most reputable short term health insurance companies Will renew these policies for up to 36 months and will offer a 30-day guarantee period of satisfaction and refund of 100%. So if you and your family are in transition and are not covered by any Major Medical Plan,