With today’s economic situation, many people find themselves in situations without healthcare coverage. This may be from job loss, or waiting for a more permanent plan to take over. With high medical costs, it is not wise to go without coverage. Even one unexpected illness can be extremely expensive with no coverage. One way to fill the gap of coverage is to purchase short term insurance.
Health Care Rally for a Public Option by leoncillo sabino
Definition:
Short term insurance is temporary health insurance coverage. It is flexible and can usually be purchased for from one to twelve months. Length of possible coverage differs from state to state. Since it is temporary, you may or may not be able to renew it once the original term runs out. It will depend on your health at the time for renewal, and the laws of your state.
Who Needs It?
This insurance is for people who are between jobs, are waiting for a regular health plan to take effect, students who are no longer covered by their parents’ plan, or anyone else who needs short term coverage.
What Does It Cover?
Short term insurance covers unexpected health or injury costs. It will usually cover any inpatient or outpatient hospital coverage, as well as any tests or lab work required for a major health issue. Its coverage is very similar to regular health insurance.
Why Buy It?
It is much less expensive than other between job insurances like COBRA. If you have no coverage and an unexpected illness occurs, the medical costs could consume all your money.
What It Does Not Cover.
Short term health insurance does not cover pre-existing conditions. Also, regular doctor visits are not usually covered. It should not be used as a substitute for regular insurance. It is meant to fill a temporary gap in coverage.
Which plan is Best?
There are many available plans to choose from. You will need to examine them carefully. Different plans work better for different situations. Only you can decide which plan will best cover your own personal needs.
Short term health insurance can be a great way to keep yourself covered if you find yourself temporarily without coverage. It is usually relatively inexpensive and can save you worry, and money if you find yourself in need of major healthcare services.