A Guide To Short Term Health Insurance Coverage

When in medical emergency, many people get almost bankrupt paying the bills. Most of the bankruptcies are caused by uninsured and unexpected injury or illness. One of the reasons that many people choose to stay uninsured is the high cost of health insurance, and its unaffordable for many.

In the recent years, the number of companies offering short term health insurance coverage has increased, giving better coverage at low cost.

Short term health insurance coverage is ideal for people under different circumstances. Most of the companies give insurance coverage to their employees, there are however some people who are in the midst of changing jobs. Short term insurance covers them till the time they get the insurance approval from new employer. It is also suitable for seasonal or temporary employees, and new graduates.

Short term health insurance coverage is available at fraction of the cost as compared to other insurance alternatives, such as COBRA. There is a variety of short term health insurance coverage to choose from, and coverage begins almost instantly. It works exactly like indemnity plan, and involves high deductibles and low premiums. There is 80% medical reimbursement, but at times, it also covers 100% of medical expenses.

Short term health insurance coverage includes inpatient hospital stays, physician’s prescription, rehabilitation and skilled nursing facility care. It however does not cover routine optical and dental checkups, pregnancy and childbirth and other work-related injuries. Short term health insurance coverage gives the freedom to choose any hospital or doctor, and not just stick to pre-determined network of physicians.

Limitations Of Short Term Health Insurance Coverage

One major drawback of this type of plan is that it does not cover person’s pre-existing conditions. Most of these policies are non-renewable, hence one needs to keep looking for new policies after every few months.

Short term health insurance coverage does not include maternity, but at times cover the complications taking place during pregnancy. Insurance carriers do not hold any guarantee issue or guarantee renewal, hence they are exempted from HIPAA legislation.

Best short term health insurance plan gives the maximum coverage at most competitive price, and coverage starts as early as the next day of transmission date. The coverage plan should be easy to understand, and there should be no hidden costs involved. Good health insurance providers also give the money-back opportunity, so that if the person is not satisfied with the policy in 30 days, 100% premium is refunded. With such option available, there is no reason for anyone to not have the insurance, and risk the self and family in case of accident.