A Guide To Short-Term Health Insurance

What is short-term insurance?When you stop to look at all the different health insurance policies in existence today, it’s easy to become overwhelmed and confused by them. However, it doesn’t have to be that way. You simply need to find a guide, such as this one, that’ll help you understand what the different policies are. In this one, we’ll look at what short-term insurance is and everything you need to know about it.

What is short-term insurance?
This health insurance is meant to provide you with coverage for a short period until you’re able to get enrolled in permanent coverage. It’s meant to serve in the gap for instances when one coverage ends, and you’re waiting for another to begin (e.g., leaving a parents’ health plan and getting insurance from an employer). Typically, this will work well with all budgets too.

Why do short-term plans exist?
Life and insurance need to change along with these changes (e.g., starting a new job, graduating from college, moving out of your parent’s home for the first time) come new responsibilities. You’ll need to make a lot of “practical” decisions, such as which health insurance plan will best fit your needs.

Even if you’re healthy and you don’t need to take prescription medications regularly, you should still have healthcare coverage. Nobody ever plans to get sick or hurt. When you do, the cost of getting the treatment you need can be quite expensive. If you have insurance, you won’t need to pay the full amount for your medical care.

How do short-term plans work?
With short-term insurance, you’re getting a plan that’s been designed to cover any emergency or unplanned care you may need for a short amount of time. This is meant to bridge the gap so that you have time to enroll in an Affordable Care Act (ACA) plan, obtain coverage through your employer, or qualify for government-funded health insurance.

Since short-term insurance is only meant to bridge the gap, it won’t cover all the care and services that are covered by a traditional ACA plan. For instance, you won’t have traditional prescription drug coverage, nor will pre-existing conditions (those health conditions you have been diagnosed with before being enrolled in this policy) be covered.

Is there anything specific you need to know about short-term plans?
There are some things that you do need to understand before you sign up for a short-term insurance plan. These include:

  • They’re designed to cover your healthcare needs for 1 – 6 months. At the end of this time, you can choose to enroll for an additional amount of time.
  • Only new health conditions and emergencies are covered. This means that you’re responsible for paying the full cost of care if you have a pre-existing condition.
  • You’ll also be enrolled in a program that allows you to get special discounted prices for any prescription medications you may need.

Is there anything that isn’t covered by a short-term plan?
Besides the fact that this health insurance doesn’t treat any pre-existing conditions (health conditions and injuries that you’ve been treated for in the 24 months prior to the plan’s start date), there are some other things that also aren’t covered. These include:

  • Adult (anyone 17 and older) wellness checkups and preventive care (mammograms are covered)
  • Maternity or newborn coverage unless you purchase a rider
  • Habilitative services (e.g., physical therapy)
  • Medications

What if you still have questions?
Hopefully, this information about short-term insurance has helped clear up some of the questions you have. At Gemini Insurance Company in Clearwater, FL, we understand that health insurance is confusing, and we want you to know that we’re here for you. If you have any additional questions about this plan or any other type of insurance plan, contact us today.

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