Medical insurance is a minefield for many people. How do you know what coverage is right for you? A special type of health insurance that many people are unaware of is short term health insurance. Short term health insurance is highly flexible. It is applicable in a wide range of situations and covers a surprising amount. Read on to learn all about short term health insurance and how it can help you or your family.
Short Term Health Insurance 101
Short term insurance is also called temporary health insurance, or term health insurance, depending on the provider. It is health insurance that is more temporary or bridges gaps in coverage. Temporary insurance is highly useful for people who are in transition periods in their life. It is often cheaper than long term plans, but also is not as full force as long term insurance.
Situations Where Temporary Insurance Can Shine
- If you are between jobs. Short-term insurance can act as a bridge between job provided coverage. Job hunting is nearly impossible anyway, why add illness to it?
- If you or a loved one are waiting to be eligible for Medicare coverage.
- Find yourself without health insurance? Temporary insurance can cover you while you try to sort out a more long term plan.
- School provided insurance is often short term. Most universities in America require students to have some sort of health insurance. However, not all students are on their parents’ insurance. Universities that require insurance generally offer school-based short term plans that cover a single year, or even a single semester. These tend to be very affordable, as they are intended to aid student who have no other options.
What Is The Duration Of Temporary Insurance?
Oftentimes term insurance plans last a maximum of 12 months, or one year. However, they are typically only designed to provide six months or less of coverage. The lowest amount of coverage possible is usually three to four weeks. This is something that depends entirely on the provider, so shop around for what suits your needs.
What If I Need Coverage For My Family?
As long as that family is legally linked to you, temporary insurance will cover them. However, temporary plans tend to be strict about pre-existing conditions. All family members need to meet the rules of the plan, or they will not be covered.
I Need Coverage, Like, Yesterday. What Do I Do?
The good news is that short term health insurance can go into effect rather quickly. Sometimes even the day after your application is submitted. If you know when your current coverage will end, you can set a start date for the short term plan. This is one of the biggest advantages of short term plans. They provide immediate relief concerning medical coverage.
Nearly everything else about short term health insurance changes from provider to provider. Shop at different health insurance providers near you to find which plan is best for your situation.