Short Term Health Insurance

Health insurance alternatives

Short Term Health Insurance plans are generally one of the least expensive insurance options and cover participants for a designated period of either 6 or 12 months in most cases. Short term health insurance is meant for people who are in need of insurance for a short time like college students, people who are between jobs, and people who are working at a temporary job, or people who are confident they will be unemployed for a short time period. It can also be an excellent interim option before signing up for an individual or family health insurance plan while you job search since it is significantly less expensive, however in some cases it can make it more difficult to qualify for a long term plan. Short term health insurance policies also do not cover any pre-existing conditions. Short term health insurance is also known as temporary health insurance.

What COBRA insurance alternatives should I consider?

Advantages of Short Term Health Insurance Plans

• Useful during transition periods where you only need health insurance coverage for a short time
• Very inexpensive compared to individual insurance plans and COBRA
• Flexible terms to cover gaps in insurance, from 1 day to 12 months
• Quick and easy sign up without a medical exam in most cases

Disadvantages of Short Term Health Insurance Plans

• Many times limits or excludes for pre-existing health conditions for any family members
• There is a strong likelihood you will have to change doctors
• You are responsible for finding a plan and maintaining coverage
• In most cases can not be renewed beyond the initial term length
• Many times do not cover wellness or preventive care
• Can increase difficult of qualifying for a permanent health insurance plan

Short Term Health Insurance Plans are best for:

• People who know they will only need this coverage for a short time
• People who are generally healthy and do not have pre-existing conditions
• People who do not go to the doctor frequently
• People who do not need ongoing wellness or preventive care
• People looking to minimize costs during a transitional period

How to Research and Find a Short Term Health Insurance Plan

Step 1:

Do your research:

In order to find the best coverage and price for you it is important to research multiple Short Term Health Insurance providers. A good place to start is getting instant online quotes and exploring individual insurance provider websites.

Step 2:

Read the fine print:

The quality of a Short Term Health Insurance plan lies in the fine print. Make sure you understand your monthly premium, what it covers, deductibles, co-payments, and any limitations or exclusions.