Short Term Health Insurance In Kentucky

Short term health insurance is designed for times when you are between jobs, are waiting for your health insurance benefits to begin or have recently graduated and are looking for a job. These policies do not meet requirements under the Affordable Care Act (ACA), which could mean you have to pay a tax penalty for not having coverage. That penalty has been zeroed out starting in 2019, though, so this won’t be an issue in the future.

Kentucky residents can apply for short term health coverage at any time, unlike ACA-compliant plans that require you to enroll during open enrollment or special enrollment if you experience a qualifying life event. Plans are not required to provide the 10 essential health benefits that ACA-compliant plans must provide, including preventive care. Most plans do not cover pre-existing conditions. However, premiums are often much lower than ACA-compliant plans.

The Obama administration limited short term plans to a maximum 90-day period in Kentucky and the country. By contrast, the Trump administration has asked for regulations that will loosen restrictions on short term plans in order to give more consumers access to less costly medical coverage. Under the new proposal, short term policies could last up to 364 days in some states.

Some states have stronger restrictions on short term health plans than the federal government while others don’t permit the sale of such policies at all. Kentucky does not have an initial contract duration limit that is stricter than those issued by the federal government and does not limit the length of time a consumer can remain on a short term plan. The plans must cover at least one state benefit mandate, but they are not required to cover all essential benefits required of ACA-compliant plans.

Enrollment in short term plans has grown significantly as consumers try to find affordable healthcare. Recent reports indicate that enrollment in short term plans may be as high as 1 million. Enrollment is predicted to reach 4.2 million people over the next few years if regulatory changes are finalized.

In Kentucky, purchasing a short term policy makes you ineligible for HIPAA health plans. If you want to maintain your eligibility for HIPAA health plans, especially if you have pre-existing conditions, you should not purchase a short term health plan. If you are between jobs, you may want to consider COBRA coverage if you have a pre-existing medical condition as opposed to a short term policy.

Carriers Offering Short Term Policies in Kentucky

National General

Pivot Health Companion Life

The IHC Group



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