Short term health insurance coverage may be the solution for you if you are going to be without insurance for a short period of time. This kind of health insurance provides great coverage at low costs. It can bridge the time to carry you through until you can set up permanent coverage. Here are some important facts to consider when you are in the market for short term health insurance coverage.
What Are the Term Periods?
Short term health insurance coverage for can be as short as a month or it could be as long as a year. Some advantages are the option to pay in full for the whole term up front. This can mean a big savings sometimes for you. The approval is usually fast within twenty four hours. Different levels of deductibles are available to select from. Selecting the higher deductibles save even more money while still being insured for the period of time you would be without insurance. Remember that you will always need to have the money to pay the deductible.
Situations Short Term Insurance Does Not Work
Short term health insurance coverage will not work in all cases. For example, if you or a member of the family has pre-existing conditions, short term health insurance coverage will not be available to you. The rates for short term insurance are low because the selection process is stringent. Most people who have pre- existing conditions or even people who have been to the doctor within the past 36 months will not qualify. Some of the requirements are, you must be of a healthy weight for your height, non-smoker and non drinker otherwise you will not qualify.
Options for Short Term Coverage
The options for short term coverage are you can select where you can go for treatment. A policy of this type is termed an indemnity policy. Sometimes its called a fee for service policy. There is a good bit of choice regarding where you can go for treatment, but the catch is you must have all your choices pre-approved. If you don’t, you won’t have coverage. The limit on this type of insurance policy is usually between one and three million dollars. Some other points to consider are regardless of the fact that they cover most costs connected with an illness or an accident, short term health insurance coverage does not cover preventative care. The routine doctor visits, PAP tests, immunizations, and other common preventative procedures are not covered.
Requirements are Healthy and Eighteen to Sixty Five
You must be healthy and between the ages of eighteen and sixty five, to stand a chance of being able to get short term health insurance coverage. If you have a 65th birthday while you are covered, the carrier will drop you and you will no longer be covered. Some of the other limitations are being pregnant, engaged in dangerous sports and other activities, you will not be considered acceptable. You must be a US citizen, if not you will not be qualified. Also to be qualified you must be in the US. No coverage is provided outside the US even if you are a US citizen. If you have ever been turned down for any other type of health insurance, you won’t be able to get short term health insurance coverage.
Short Term is Non-renewable
When a policy of this type has reached its term you cannot renew it. You must go through the process and apply for a new policy. Keep in mind that if you filed claims during your first term you will not be considered for a second term. Some terms can last as long as thirty six months for a policy.
Know What is Covered and What is Not
When selecting short term health insurance coverage, pay close attention to what is covered and what is not. The carrier will provide an extensive list of things that are not covered. It is good to be aware about this ahead of time. It is always important to keep your ID card on you and know how to phone the company when you need to have services preauthorized.
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