Ideal Candidates for Short Term Health Insurance
- Anyone healthy under the age of 65
- Young adults who are unable to receive insurance through their parents’ health plan
- Non-domestic students studying in the U.S.
- People seeking health insurance for a prearranged time period
- If you do not qualify for the Affordable Care Act’s Special Enrollment Period and still need health insurance
- People who are too young to apply for Medicare and are unable to receive insurance through an employer
Why Buy Short Term Health Insurance?
Short Term Health Insurance is useful for people who need transitional coverage (between jobs, for example), students studying abroad in the U.S., or for others for whom Obamacare is not ideal. While benefits are typically limited compared to ACA plans, a wide variety of healthcare providers accept Short Term Health Insurance.
Short Term Health Insurance Basics
Short Term Health Insurance provides limited medical insurance for a predetermined period of time. Short Term Health plans are characterized by reduced medical coverage levels and by insurance premiums that can be fifty percent less expensive than basic Obamacare plans. Since Short Health Insurance plans do not comply with minimum coverage standards of the Affordable Care Act’s (“ACA”), you will have to pay the federal “Shared Responsibility Tax”.
Benefits Typically Provided by Short Term Health Insurance
- Doctor visits and specialist visits
- Lab tests
- Emergency care
Short Term Health Insurance does not provide maternity care, and benefits like drug coverage may only be partially provided or not provided at all. Deductibles can be high, and payment allowances limited, so it’s important to review these items carefully in Short Term Plans.
Pre-existing medical conditions are not covered by Short Term Health Insurance, so if you have had a new medical diagnosis in the last two years you should consider another option.
Short Term Health plan enrollees are not limited to the Annual Enrollment Period that the Affordable Care Act requires. When applying for Short Term Insurance you will have to answer questions about your current health status and any indication that your health is poor could cause your application to be rejected.
Short-term health insurance Benefits
- Provide coverage in case of sudden sickness or harm
- Coverage can begin the day after your enrollment application is submitted
- The length of the plans coverage can vary from 30 days up to 1 year
- Provides insurance during transitional periods