What is Short Term Health Insurance?
Monday, June 2nd, 2008Short term health insurance plans provide you with health insurance coverage for a limited period of time, & may be an ideal solution for those between jobs or those waiting for other health insurance to start. Typically, short term insurance plans offer health insurance coverage up to six months, although some plans may offer coverage up to 12 months. If you think you’ll need health insurance coverage for a longer period of time, you may want to look at a longer term health insurance option like our individual health insurance and family health insurance plans.
The application process for short term health insurance is usually simpler than standard, longer-term health insurance. Short term health insurance plans are designed to protect against unforeseen accidents or illnesses, rather than to provide comprehensive coverage, and, as such, typically do not include coverage for preventive care, physicals, immunizations, dental or vision care.
Purchasing a short term medical insurance plan will make you ineligible for any guaranteed issue individual health insurance plans commonly referred to as HIPAA Plans. HIPAA plans are usually very expensive and are generally intended for people with pre-existing medical conditions who would have trouble getting health insurance otherwise. If you wish to maintain your eligibility for HIPAA plans, you should not purchase a short-term plan. Please consult your benefits advisor to discuss your rights under the Health Insurance Portability and Accountability Act (HIPAA) and other rights under state law.
Short term health insurance plans usually do not cover pre-existing medical conditions. The definition of a pre-existing medical condition varies by state and carrier, but usually short term health insurance policies exclude coverage for medical conditions that have been diagnosed or treated within the previous 3 to 5 years. If you have an existing medical condition, you may want to research whether you can extend your current health insurance. Employer sponsored health insurance can be extended under a government-regulated option commonly referred to as COBRA, which you should seriously consider if you have an existing medical condition.
