When in medical emergency, many people get almost bankrupt paying the bills. Most of the bankruptcies are caused by uninsured and unexpected injury or illness. One of the reasons that many people choose to stay uninsured is the high cost of health insurance, and its unaffordable for many.

In the recent years, the number of companies offering short term health insurance coverage has increased, giving better coverage at low cost.

Short term health insurance coverage is ideal for people under different circumstances. Most of the companies give insurance coverage to their employees, there are however some people who are in the midst of changing jobs. Short term insurance covers them till the time they get the insurance approval from new employer. It is also suitable for seasonal or temporary employees, and new graduates.

Short term health insurance coverage is available at fraction of the cost as compared to other insurance alternatives, such as COBRA. There is a variety of short term health insurance coverage to choose from, and coverage begins almost instantly. It works exactly like indemnity plan, and involves high deductibles and low premiums. There is 80% medical reimbursement, but at times, it also covers 100% of medical expenses.

Short term health insurance coverage includes inpatient hospital stays, physician’s prescription, rehabilitation and skilled nursing facility care. It however does not cover routine optical and dental checkups, pregnancy and childbirth and other work-related injuries. Short term health insurance coverage gives the freedom to choose any hospital or doctor, and not just stick to pre-determined network of physicians. 

Limitations Of Short Term Health Insurance Coverage

One major drawback of this type of plan is that it does not cover person’s pre-existing conditions. Most of these policies are non-renewable, hence one needs to keep looking for new policies after every few months.

Short term health insurance coverage does not include maternity, but at times cover the complications taking place during pregnancy. Insurance carriers do not hold any guarantee issue or guarantee renewal, hence they are exempted from HIPAA legislation.

Best short term health insurance plan gives the maximum coverage at most competitive price, and coverage starts as early as the next day of transmission date. The coverage plan should be easy to understand, and there should be no hidden costs involved. Good health insurance providers also give the money-back opportunity, so that if the person is not satisfied with the policy in 30 days, 100% premium is refunded. With such option available, there is no reason for anyone to not have the insurance, and risk the self and family in case of accident.

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Individual short term health insurance is a kind of stop-over arrangement for health insurance coverage. This insurance covers the intensive care, emergency medicine, prescription drugs, ambulance service, inpatient and outpatient hospital surgeries, physician service, inpatient hospital stays, and lab and X-ray. Due to its low cost, this plan does not include optical care, dental care and preventive care such as immunization, PAP smears, and physical tests.

As compared to group plan however, individual short term health insurance is expensive. In case of group plans, a range of choices is given to the employee making the options easier. However, in individual short term health insurance plan, the coverage choices are more, and confusion often makes the costs higher.

Benefits Of Individual Short Term Health Insurance

Due to fast purchase process and high coverage limit, individual short term health insurance have become quite popular in recent years. Most of the insurance companies now offer short term health policies, and accept credit card payment option. But, there are also lots of limitations of individual short term health insurance plan, hence one must read all the terms and conditions carefully, and understand the limitations.

Individual short term health insurance plans are available in durations from one month up to 12 months. The coverage of these plans is same as standard plans, but are not renewable. This plan is ideal for an individual waiting for another plan, or in-between job change. It is also a good choice for anyone not having a short-term insurance, or recently graduated student who are no longer covered under their parent’s policy.

As individual short term health insurance plan gives coverage only up to a year, consider main-stream health plans if you need longer coverage. This plan does not cover individuals older than 65 years, and there is a condition that the applicant should not have been covered by any other insurance policy. Each individual short term health insurance coverage policy comes with a set of qualifying conditions in terms of weight and height, and one must comply with these specifications to become eligible.

There are various individual short term health insurance plans to choose from, and the coverage begins almost instantly for those looking for insurance on short notice.

Although there are many limitations associated with individual short term health insurance plans, they still are a great way to fill the fill the gap in the coverage of health insurance giving peace of mind. With so many options available, there is no need to stay without health coverage, and risk one’s health.

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