Short Term Health Insurance

Short term health insurance can close gaps in your health insurance coverage, so that you aren't left without affordable medical care at a transitional phase. Qualifying for permanent health insurance benefits may be easier if you're already covered under short term health insurance. If you need temporary coverage for your medical needs while you're in between jobs or waiting for a new stage in your financial life to begin, short term health insurance can protect your well being and give you greater peace of mind.

Finding affordable health insurance is a challenge for individuals, families and small and large businesses alike. Single adults, couples and families, in particular, may find it difficult to obtain reasonably priced health coverage. Because it isn't always possible to have the benefits of group heath insurance through an employer, short term health insurance was designed to fill your need for a competitively priced, temporary individual or family health insurance plan. Your short term policy can protect you and your loved ones until you've found a more permanent option.

Uses for Short Term Insurance

Life today always seems to be in flux, and people of all ages go through many transitions. Although it would be reassuring to know that you could rely on receiving medical coverage through a single provider for your entire lifetime, the reality is that jobs, relationships and medical needs usually change over time. Short term health insurance acts as a bridge between the permanent policies that you may carry during your lifetime.

After you graduate from college, you may no longer qualify for coverage under your parents' plan. Until you find a job and become eligible to receive coverage through your employer, short term protection will give you greater peace of mind. A short term policy ensures that if you're injured or become ill, you'll have the benefits you need to receive medical care at affordable prices.

If you're laid off from your job, you may have the opportunity to continue with your employer's plan through COBRA. COBRA allows you to pay for your group policy on a temporary basis at the regular rate. Although COBRA is a viable way to bridge the gap between jobs, paying full price for premiums is not possible for many individuals, especially if they're on a limited budget while they're looking for work. Premiums for short term policies are generally very reasonable, so you can have the temporary protection you need at a lower cost.

Short term plans are especially valuable to families. If you have financial dependents who rely on you for their medical care, losing your job could affect them on several important levels, including their ability to see doctors at rates your family can afford. Short term health insurance can cover families as well as individuals, giving you and your loved ones the security you need while you're searching for a new position.

If you retire before the age of 65, you may no longer be covered under an employer's group policy, but you aren't yet old enough to qualify for federal benefits under Medicare. Short term health insurance can cover your needs until you turn 65. Take advantage of the benefits of an affordable temporary policy to avoid costly bills for consultations, procedures or prescriptions during this transitional time.

Temporary Options and Costs

Short term health insurance benefits and costs vary from one plan to another, and when you shop for a temporary plan, you'll find that you have a number of options to choose from. Managed care policies, such as a PPO or an HMO, often provide the most comprehensive benefits, but your choice of practitioners and facilities is limited to a provider network. High deductible, fee for service plans give you more flexibility in your health care options, but you must assume a larger share of the financial responsibility.

If you are generally healthy and you rarely see a doctor for anything but routine checkups and preventive care, a high deductible plan may be the right option for you. Monthly premiums are lower with high deductible plans, which means that it's easier to manage your out of pocket costs. If you have more complicated needs or you have young dependents who need reliable health insurance, a managed HMO or PPO may be a more secure choice. You'll have predictable monthly premiums and low copayments with a PPO or HMO option.

Short term health insurance is not a permanent solution to your need for quality services and financial protection against the costs of injuries or illness. However, a temporary policy may protect you and your loved ones against severe losses if anyone in your household gets sick or is hurt. Compare quotes from several of the leading providers to find an option that gives you greater reassurance while you're in transition.

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