Affordable Short Term Health Insurance

Between Jobs? Affordable Short Term Health Insurance May be Just What You Need

There are many advantages to finding affordable short term health insurance. If you have lost your previous employment status and are paying COBRA, it is possible that an affordable short term health insurance policy will be a cheaper alternative. Because insurers choose typically healthy people to be a part of their affordable short term health insurance plans, the premiums tend to be pretty low, because they do not expect to have many claims. An affordable short term health insurance policy will cover medical treatment, and possibly even some preventive care and screenings. You can get an affordable short term health insurance policy for as little as one to six months, or one that may be renewable for up to 36 months. Most affordable short term health insurance plans do not have physician networks or requirements about which kinds of doctors you see. They function more as an indemnity plan, which means you have the freedom to see any doctor you want.

Another advantage of affordable short term health insurance plans is that they will become effective as early as the day you postmark your application. You can also have your family members, or dependents, included in some affordable short term health insurance plans. This means that it is a pretty quick application and approval process, and you can get the benefits and coverage you need fairly quickly.

Of course, there are some limitations and disadvantages to an affordable short term health insurance policy. The main one is that it will not cover pre-existing conditions. Although HIPAA requires health insurance companies to cover pre-existing conditions under certain situations, short-term health insurance policies are not required to meet these HIPAA guidelines. And the "look back" period, may be up to 36 months. Carefully read the limitations and exclusions of your affordable short term health insurance policy to determine what your particular "look back" period is for pre-existing conditions.

Another disadvantage of affordable short term health insurance plans is that it usually will not cover pregnancy and childbirth. And if you do file a claim for an illness or injury, it is possible that the insurance company will not approve you to renew your policy. As stated above, the premiums are low because they approve healthy individuals for these policies, so they are strict about their application and approvals. Most affordable short term health insurance plans do not cover vision or dental, so you may need to purchase a separate policy for these medical services.

So, because there are advantages and disadvantages to affordable short term health insurance plans, you will need to carefully considering which works best for your current situation. If you are between jobs, or waiting on an employment assignment to receive insurance benefits, an affordable short term health insurance plan may works well for you. You will have benefits if something were to occur, and this would provide you with peace of mind. Watch out for pre-existing condition limitations, and consider how having an affordable short term health insurance policy will affect your future chances of joining a different health plan.