Are you experiencing a gap in coverage while waiting for traditional health insurance to kick in? eHealth offers temporary plans that may provide a temporary solution.
These plans typically span from 3 months to one year in duration and are purchased through private insurance companies. As these policies do not have to adhere to ACA guidelines, their benefits tend to be limited.
What is short-term health insurance?
Short-term health insurance (STHI) plans offer temporary healthcare coverage, lasting from one to 12 months in duration and renewable up to multiple times. They do not meet Minimum Essential Coverage criteria under the Affordable Care Act (ACA), however; therefore they may exclude certain categories like prescription drugs and maternity services from coverage.
These plans may offer lower monthly premiums than traditional major medical coverage, yet have higher out-of-pocket expenses and typically require medical underwriting before covering preexisting conditions – not recommended for people living with chronic or serious health conditions.
While temporary plans may not provide optimal coverage, they can still offer valuable assistance for people experiencing temporary gaps in coverage. Particularly relevant are plans such as this that cover individuals who:
* Are currently between jobs, but do not yet have access to an employer-sponsored health plan.
* Are approaching the end of their Affordable Care Act-compliant plan, but need a new job or special enrollment period before signing back up.
* Do not qualify for Affordable Care Act subsidies but cannot afford an individual marketplace plan or employer-sponsored coverage.
Are You Searching for Healthcare Coverage Solutions Online? Try an Online Health Insurance Comparison Tool These tools typically list plans in ascending price order from most expensive to least expensive, making it easier to identify the ideal plan for your needs and budget. Furthermore, you can view details about each coverage plan’s deductibles, coinsurance and other important details. If you have any inquiries about your coverage options, it is best to speak directly with an agent. UnitedHealthcare through Golden Rule Insurance Company offers short-term health plans that can be purchased all year.
Why do I need short-term health insurance?
Short-term health plans offer an alternative solution if you are between jobs and require health coverage that won’t conflict with employer-provided plans, while still covering the basics such as maternity care or prescription drugs. Since they don’t adhere to ACA regulations, short-term plans tend to cost less than major medical plans; however, you should remember they don’t typically cover maternity care or prescription drugs either and may deny coverage due to preexisting conditions and not covering out-of-network services.
Short-term health insurance plans are easy to acquire. Not governed by the Affordable Care Act (ACA), they don’t require an open enrollment period and can be bought any time of year. Many insurers such as eHealth offer these policies through licensed agents who can explain all their features.
Short-term health insurance plans vary in duration depending on state and insurer regulations; some states forbid these policies altogether while others permit them for up to one year at most. Some short-term providers also offer extended renewal options of up to 36 months (although this could change once Biden administration’s new rules on these plans take effect).
Before selecting a short-term plan, it is essential to carefully consider your medical needs. Short-term health insurance plans may be an ideal solution for individuals who don’t yet qualify for Affordable Care Act plans but know they will eventually be able to afford one. A short-term policy gives these people time to complete employment or training requirements before purchasing an ACA policy at full price. As an alternative to an Affordable Care Act plan, this may also provide coverage during a transitional period or once former employer-sponsored coverage has ended. These individuals require affordable health coverage to give them some level of financial protection in case of expensive medical expenses in the meantime. Luckily, most health insurance marketplaces now provide Affordable Care Act-compliant major medical plans. So if you are healthy and don’t require ongoing care services, an ACA plan could be more suitable.
What are the benefits of short-term health insurance?
Short-term health insurance plans provide an economical option for consumers in between policies. Since these plans do not need to meet Affordable Care Act or marketplace subsidies requirements (like providing minimum essential coverage), and their prices tend to be less expensive than traditional major medical plans, this form of health coverage could provide much-needed coverage gaps between renewal dates.
However, short-term policies have some important constraints to keep in mind. For instance, their duration usually ranges between three months and one year and typically cannot be renewed beyond this point. Furthermore, these plans typically feature limited networks that exclude certain services like prescription drugs as well as possibly charging you copay or coinsurance fees when receiving healthcare services.
Short-term health insurance costs depend on your plan type and location; however, in general these plans tend to be less costly than traditional major medical plans as they don’t usually offer premium subsidies like those provided through an ACA marketplace/exchange.
Although most short-term plans don’t cover preexisting conditions, they have the added advantage of allowing you to sign up at any time during the year without waiting for open enrollment periods or qualifying life events to occur. You could apply for short-term medical or TriTerm medical plans on the same day you start researching them – coverage could start as soon as the next day in some instances!
How do I get short-term health insurance?
eHealth’s licensed health insurance agents can help you quickly locate short-term plans tailored specifically to your individual needs. Simply answer a few simple questions, and we’ll match you up with plans from top insurers. Whether you are between jobs and losing employer benefits, waiting for an ACA plan to start or simply need extra protection while job hunting – temporary health insurance plans might just be what’s required.
Most short-term medical plans require you to complete a health questionnaire and provide your medical history in order to qualify. Your insurer may either approve or deny you depending on how you answer these questions, while some plans also have annual/lifetime limits which limit their benefits coverage in case something major happens during coverage; these limitations mean they won’t pay out the total cost of care in full.
As short-term plans don’t meet the Affordable Care Act (ACA, more commonly known as Obamacare), they’re neither guaranteed issue nor renewable at the end of your term, necessitating you to reapply at renewal time. Furthermore, they do not cover preexisting conditions nor do they come equipped with consumer protections like marketplace policies do – meaning if you lose one then if will no longer qualify for special enrollment periods and low income assistance when purchasing marketplace coverage again in future terms.
Also important is the fact that these plans don’t offer networks of providers; they only cover your health expenses at set rates compared to regulated market health insurance plans that have providers agreeing on contract rates, potentially leading to greater out-of-pocket medical expenses compared to traditional market plans.
People eligible for short-term health insurance include individuals who missed the Affordable Care Act’s open enrollment period, are in between jobs waiting for new ACA or Medicare coverage to start, college students with gaps caused by accidents or illnesses, as well as individuals between 18-65. Age restrictions will depend upon each insurer and state regulations.
