Who Needs Short Term Health Insurance Plans?
Having one provides you peace of mind and ease of pocket by giving you protection from large medical bills. If you ever need medical care, these companies will share the burden of medical bills with you.
It is now almost a necessity with the increasing cost of medical care and medicines.
However, there may be some instances in your life that you may be left without the protection of a health insurance. For examples:
If you have just completed your education, your student health insurance that would have provided you coverage previously may have ceased tobe effective.
If you are currently unemployed and looking for a job, you may be without a medical coverage.
If you have just resigned from your job which previously offered you a group health insurance, you will be left without any until you find another.
If you are travelling to U.S. for a short period of time as an international student or as an employee, you may want onw to cover you during your stay.
The great news is there is a perfect solution to these instances that you are left with no health insurance protection – a short term health insurance.
How Long Is Short Term?
While most of these plans cover you from one to six months, there are those that offer you coverage for up to a year. The period basically depends on your stipulation. You can always renew your short term health insurance plans if you require coverage for a longer period. However, most of them do not run for more than a year.
Advantages of Short Term Plans
They do not require you to undergo physical examinations.
The application process is easier with lesser paperwork and effort than for a general health insurance. However some companies may charge you a nominal fee for processing your application.
Your coverage becomes effective from the time the company gets your first premium, which can be within 24 hours of submitting the application for the insurance.
They do cover you for accidents and sudden illnesses.
Often you are allowed to visit doctors and medical facilities of your choice.
Disadvantages of Short Term Plans
They usually do not cover pre-existing health conditions (something you may have received treatment for within the past 5 years).
They also do not cover routine medical care such as dental, optical and medical check-ups.
They do not cover medical bills pertaining to pregnancy and childbirth.
They do not guarantee renewals. So suppose you had taken a 3-month plan and you get into an accident on the 3rd month, the company will cover your costs only for the 3rd month. However, you may need on-going medical care during the 4th and 5th months. You are not covered by the insurance during the 4th and 5th months and there is no guarantee that you current company will renew your policy. If you want to go somewhere else for a short term insurance policy, they will also not cover your medical costs pertaining to the accident as it will be considered a pre-existing condition.
People with pre-existing conditions may find it difficult to get a short term health insurance. If they do get one, it would probably be more costly.
While short term health insurance may prove to be useful to many, there are some people who would prefer a general one. One reason is because, the
y may not know the exact time-frame they require the short term coverage. Furthermore, for those looking for a job, there is also no guarantee that their new employee will provide group medical plans. Study your needs and situation carefully when deciding on a short term health insurance.
Many people consider finding health insurance to be for those who get sick a lot and those facing risky jobs. However, the truth is in the way in which a sudden blow to health risks triggers one of our family members leading to cascading problems in the economy and normalcy. Obtaining health insurance is a must