Short Term Health InsuranceIf you are in a situation where you are between jobs or you have recently started a new job and your health insurance benefits have not come into effect yet, you may be interested in short term health insurance. This type of health insurance coverage lasts for a short time, generally up to 12 months.
Short Term Health Insurance and Pre-Existing ConditionsMost short-term health insurance plans don't cover pre-existing conditions. A condition you have been diagnosed with in the past three-five years may fall into this category. If you have questions about whether you can get coverage, please get them cleared up before you buy a policy.
Coverage Under a Short Term Health Insurance PlanThis type of insurance policy is designed to cover you in the event of a serious illness or accident, as opposed to paying benefits for preventive medical care, dental services, or eyeglasses. Short term health insurance can be put in place quickly; with some plans, your coverage will start within 24 hours of applying (if you pay the first month's premium with a credit card).
Paying for Short Term Health InsuranceYou have the option of paying for your coverage on a monthly basis, or paying the whole amount up front. If you aren't sure how long you will need short term health insurance, then paying the premiums monthly is probably the best way to go. This may be a more expensive way to pay for your insurance, though. If you have a clear idea about how long you need coverage for, such as in a situation where you are waiting for your health insurance to kick in after starting a new job, then paying the premium in one lump sum is a good choice. This option also gives you the convenience of not needing to contact the insurer to cancel your coverage when you no longer need the policy. At the end of your coverage period, if your plans change, then you would probably need to reapply for coverage, since most plans will not allow you to extend your coverage past the original expiry date.
Is short term health insurance something you are interested in learning more about? Find out the facts to decide whether this is right for you by clicking on the free insurance tool located right at the top of this page. |
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