Short term health insurance offers individuals coverage for a short period of time. It is designed for healthy individuals as well as families offering a safety net for those who do not have a basic health plan or are transitioning from one point of their lives to another.
Most of these plans normally last for as short as one month or as long as 6 months. This can be renewed for 36 months.
The application process for these policies is usually very easy and you can get your policy a day after applying. Most companies that offer these also work with credit card payments.
It is however important to note that short term health insurance does not cover any pre- existing conditions. These are normally defined as any conditions a person may be suffering from 36 months before they take on the cover.
These however vary from one state to another thus you can check with the insurance department where you want to take the cover to find out all the laws that apply. Be sure to read the policy very carefully and understand all the clauses before you settle on the one to buy.
- Individuals who are in between jobs.
- Employees who have just started new jobs- this is because you might have to wait for a short period of time before you are absorbed into the company's policy.
- Recent colleague graduates who are still looking for jobs.
- Individuals who are waiting to qualify to apply for standard health insurance policy and do not want to wait until this matures.
- People who are losing the dependent status because they will be dropped from their parents' insurance plans.
- Early retirees, people who are on military discharge or those on strike.
The short term health insurance works similar to an indemnity plan. It gives the policy holders the opportunity to visit any specialist or doctor they want. Most of them however insist that members have to get a pre certification from the insurer before a person is hospitalized but this does not work for emergency treatment.
There are things that may not be included in this policy such as follow up visits, prescription drugs, and diagnostic tests and in some cases limited mental health care. Most companies normally offer a 30 day guarantee for people who take on the policies.
There are numerous benefits that are associated with short term health insurance such as:
1. It is less costly when compared with traditional medical cover and it covers treatment for people who have been hospitalized due to illness, have been injured or involved in an accident.
2. The plans allow a person to see any doctor they may wish.
3. You do not have to wait for coverage for long as it can be obtained as soon as the next day after application.
4. Some plans cover most of the preventive care measures like PAP smears and mammograms whole there are others that cover specific transplants.
5. All eligible dependents such as children or spouse are covered.
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