6 Unexpected Benefits of Short Term Health Insurance
Short term health insurance plans serve the coverage needs of many Americans, but far too often, they’re blown off ...
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1-855-821-0869There may be a 1,000 reasons why you're currently uninsured. Costs too high, you missed Open Enrollment, or maybe you think that you're healthy so you don't need it. Whatever the reason, a short term health insurance plan may resolve most of those issues. It isn't the right choice for everyone, but it could be the best solution for you.
*National average for a 40 year old, male non-smoker. Prices vary depending on age, carrier & location.
IMPORTANT: This is a short‐term, limited‐duration policy, NOT comprehensive health coverage
This is a temporary limited policy that has fewer benefits and Federal protections than other types of health insurance options, like those on HealthCare.gov.
This policy | Insurance on HealthCare.gov |
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Might not cover you due to preexisting health conditions like diabetes, cancer, stroke, arthritis, heart disease, mental health & substance use disorders | Can’t deny you coverage due to preexisting health conditions |
Might not cover things like prescription drugs, preventive screenings, maternity care, emergency services, hospitalization, pediatric care, physical therapy & more | Covers all essential health benefits |
Might have no limit on what you pay out‐of‐pocket for care | Protects you with limits on what you pay each year out‐of‐pocket for essential health benefits |
You won’t qualify for Federal financial help to pay premiums & out‐of‐pocket costs | Many people qualify for Federal financial help |
Doesn’t have to meet Federal standards for comprehensive health coverage | All plans must meet Federal standards |
Looking for comprehensive health insurance?
Questions about this policy?
For questions or complaints about this policy, contact your State Department of Insurance. Find their number on the National Association of Insurance Commissioners’ website (naic.org) under “Insurance Departments.”
A Closer Look At Coverage
Historically, Short Term Health Insurance has been, as its name implies, a short term solution for health insurance coverage. In recent years, however, and mostly due to ACA plan premium increases, millions of Americans have found Short Term Health Plans to be a way to obtain lower cost health insurance. Short Term Health Plans can cost 50% less than ACA (Obamacare) plans, but with a lower cost comes limited benefits, particularly for people with pre-existing conditions. At ShortTermHealthInsurance.com we're focused on providing you with the facts about these plans and a way to safely connect with major short term health insurance carriers, who are established and vetted.
Here are the key differences between a Short Term Health Plan and an ACA plan:
Short term health plans can be up to 50% less expensive than traditional medical plans. However, these reduced premium costs usually result in reduced or limited coverage.
Things that aren't usually covered with a short term health plan:Short term health plans are affordable & provide a financial safety net against accidents, unexpected illnesses & emergencies for those who don't have other coverage options.
Things that are usually covered with a short term health plan:Short term health plans are limited and more specific than ACA-approved medical policies. Many essential health benefits aren't covered and there are caps on benefit payouts.
Things that have limited coverage with a short term health plan:Rethinking Health Insurance
Short term insurance can be a good option for certain people, and it's definitely better than not having any insurance at all. Short term plans are ideal for those who are in transition, whether you need something to fill the gaps between employer-sponsored coverage, you've been dropped from your parents' plan, or you've retired early but don't qualify for Medicare yet.
Gemma just graduated from college and is unable to continue on her schools' insurance plan. While she is hitting the job market in search of her dream career she needs some coverage just in case of emergencies.
Here's why a short term plan makes sense for Gemma:
Chris is still living at home with his parents, but because he just turned 26, he has officially aged out of his parents' health plan. Although Chris is employed, he is only working part-time as a server at a local restaurant and has very limited income to devote to health insurance.
Here's why a short term plan makes sense for Chris:
Eileen recently quit her job and decided to follow her passion and open up her own small business selling decorative artwork on Etsy. Unfortunately for Eileen, her health benefits ended with her last job, and she is finding COBRA coverage too expensive for her now-limited income.
Here's why a short term plan make sense for Eileen:
Larry retired early at age 60, but he's been waiting to draw Social Security benefits until he can also sign up for Medicare at age 65. Because he's on a fixed income and has no additional government benefits, he finds the premiums for his current retiree health insurance plan to be too expensive.
Here's why a short term plan make sense for Larry:
ACA Health Plans
$
378
National average cost/month for a 40 year old, male non-smoker. |
vs |
Short Term Plans
$
49
National average cost/month for a 40 year old, male non-smoker. |
---|---|---|
Enroll Anytime, Cancel Anytime | ||
Low Premium & Deductible Options | ||
10 Essential Health Benefits | ||
Covers Pre-Existing Conditions | ||
Doctor & Specialist Visits | ||
Labs, Xrays & Diagnostic Services | ||
ER & Hospital Coverage | ||
Prescription Drug Coverage | ||
Maternity & Prenatal Care | ||
Mental Health & Addiction Services |
Frequently Asked Questions
These plans vary greatly depending on where you buy the plan and the company you choose. But temporary health plans do tend to feature some of the same benefits. Most plans, for instance, will offer catastrophic coverage for emergencies or unexpected medical events. Here’s what you can expect from many short term policies. Learn More
Because short term health plans don't fall under the scope of the ACA, they don't have to meet its minimum standards and insurance carriers can exclude benefits as they see fit. Exclusions help keep premiums low, so many plans leave out a number of services. Some of the most common exclusions are preventive care, maternity services and coverage for mental health needs, including counseling sessions and substance abuse treatment. Many short term plans also restrict coverage for prescription drugs. Even if a plan does include some pharmacy services, these may be subject to a separate deductible or maximum payout than the other benefits covered by the plan. Learn More
While a temporary health plan can be a good idea in some circumstances, it might not be the best option for certain groups or individuals. Those who should avoid short-term health insurance include: anyone with a pre-existing condition, pregnant women, young families, people with mental health or substance abuse problems, senior citizens, people who need regular prescriptions, those without any savings, and those who want comprehensive, long-term coverage. Learn More
Typically, the shortest duration period for a temporary plan is one month. Some plans allow you to select a specific number of days for the policy to last. Other plans last up to three months, but some policies allow you to cancel before your contract ends, especially if you pay month to month instead of all at once. Learn More
Everyone benefits from some form of health insurance. Even if you're young and healthy, an accident or unexpected medical crisis can be financially devastating. A temporary health plan might be a good choice for you if: you're young and in good health; you are not eligible for ACA special enrollment; you don't have chronic or pre-existing conditions; you expect to face a short gap in coverage; you're struggling financially but ineligible for subsidies; and/or you're facing an unanticipated loss in coverage and don't want to risk being uninsured. Learn More
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