Short Term Medical Insurance
Short term medical insurance provides emergency coverage during “gap” periods when you aren’t eligible to enroll in standard health insurance. Without medical insurance in place, you and your loved ones are left vulnerable to large medical bills that can result in the event of a sudden illness or accident.
Considering that costs for air-lifted emergency transport range anywhere from $12,000 to $25,000 before you even enter the hospital, the relatively low cost to establish short term medical insurance is likely worth your peace of mind if you find yourself uninsured.
Temporary medical is most needed when you are:
Seeking insurance outside of open enrollment period: Enrollment in qualified health plans is limited to specific times of the year. Open enrollment is November 15, 2014 through February 15, 2015. Use a temporary insurance plan to provide coverage until open enrollment begins again.
Changing Jobs: Short term medical provides coverage until you obtain new employer-sponsored benefits. A new job often requires a waiting period before company benefits are offered, so it is important to use a temporary plan during the “gap.” Temporary and seasonal employees often use short term health plans to remain covered between jobs.
Waiting for coverage: If you’ve applied for Medicare or a qualified health plan and are waiting for coverage to begin on January 1st, a short term health insurance plan can keep you protected until then.
Finding no other reasonable options: Temporary insurance can be a better option than choosing not to purchase a health plan at all. If no other option is within your budget, a short term plan could be one solution.
Get a short term medical insurance quote!
Get started in three easy steps and apply online:
- Determine the length of coverage you need. You can cover as few as 30 days or up to 190 days.
- Customize your plan. Choose your deductible and coinsurance ratio.
- Apply online.
- Coverage begins at midnight the day you apply for coverage
- There is no network – so you may keep your existing doctors
- There are no enrollment periods – apply any time during the year
Temporary Health Insurance Plan Exclusions and Limitations
Short term health insurance plans don’t provide the same coverage as plans approved by the ACA and do not meet the Minimum Essential Coverage requirements enforced by the ACA. Most of these plans do not cover preventive services or pre-existing conditions. Additionally, temporary health plan policyholders may be required to pay a tax penalty depending upon income level and plan costs. It is recommended that you speak with your tax professional regarding any tax penalties you may incur.
A short term health insurance plan can protect you and your family from financial hardship when you need it most. Talk to an agent or enroll online today!