What You Should Know About Short Term Health Insurance
August 19, 2010 by Health Mastermind
Filed under health insurance coverage
How much do you know about short term health insurance? There are many people that have never heard of this type of insurance before but in some cases it can be very beneficial. A short term plan is one that would be used by someone who will only need coverage for approximately one month up to a year.
For example, if there will be a change in your employment status in a few months and you’ll be without permanent insurance for awhile, you need to be covered between now and the time when you’ll be eligible for coverage with the new company. In this type of scenario, a short term policy would be perfect.
This type of insurance won’t pay for any pre-existing conditions nor will it cover preventative care. Basically, short term health insurance is used for protection from something unexpected such as an accident or sudden illness. You won’t be able to receive vision or dental coverage because a short term policy is not designed to provide all the protection and options of a long term policy. If you need to renew the policy, there are no guarantees that you’ll be able to do so since it’s meant to only be used for a short period of time.
Normally, only someone healthy would consider taking out a short term health insurance policy because if you have a serious medical condition, you’ll need something permanent, not something that will be ending soon. Plus, it can be difficult switching insurance companies when you already have some type of medical problem. You run the risk of not being accepted by any company and you’ll surely have a waiting period before you’ll be covered for the pre-existing condition.
It would be less expensive and easier to pay for your short term plan in advance but you will have the option of making payments if needed. In the event that you don’t know exactly how long you’ll need the coverage, then payments would be a better option because you may be able to carry the insurance on a monthly basis.
Some of the benefits provided by short term health insurance include being able to select your own hospital and health care provider. This is because you’ll only have this coverage for a short period of time. Therefore, it would be easier for the company than trying to control who you can and cannot see.
In most cases, you won’t need to take a physical exam for short term health insurance. The easiest way to apply for this insurance is by going online and searching for a site that offers this service. Just be sure and do your research to make sure you choose a legitimate company before picking the one you want to do business with to ensure you’re getting your money’s worth.
