All About Short Term Health Insurance
If you missed out on the Affordable Care Act Enrollment or are looking at your health care options, a short term health care insurance might just be for you. There are several benefits to this short term policy.
For those looking to fill a gap between regular policies, this insurance covers the policy holder for up to a year.
These are meant to be temporary and cover major medical and hospitalization. They don't have to meet the Affordable Care Act Minimums and they do cover less. This also means that the costs are lower, almost 50% less than the ACA policies.
You might want to check out the plan if you're in one of these circumstances
-between jobs that cover health insurance
-are in generally good enough health that extensive health care needs are not a concern
-missed the enrollment for the ACA plan
-do not qualify for Medicaid, Medicare or ACA
There are some cons to the short term health insurance. It does require a underwriting test so you might not be eligible due to pre-existing conditions. You are not exempt from tax penalities because they do not meet the ACA requirements. You have to apply again after the 365 days. Lastly, benefits are truly restricted to only major medical situations.
Date Posted: 2017-06-15