Short-Term Health Insurance: A Guide to Coverage Options
Need health insurance coverage right away? Looking for affordable coverage but unsure how long you’ll need it for? Short-term health insurance may be a good option for you. It combines flexible sign up periods with coverage that can help you save on healthcare costs for a limited time. It can be a good option for people who are between jobs, recently lost their health insurance, or need coverage for a short period of time.
What is short-term health insurance?
Short-term health insurance is a type of health insurance that provides temporary coverage for a period of time, typically between 3 and 12 months. Short-term plans are not required to comply with all of the same regulations as ACA-compliant plans, so they may offer lower premiums and less comprehensive coverage. However, short-term plans can be a good option for people who are between jobs, recently lost their health insurance, or need coverage for a short period of time.
How does short-term health insurance work?
Short-term health insurance works like any other type of health insurance. You purchase a policy from an insurance company, and the policy will cover a portion of your medical costs if you become sick or injured. The amount of coverage you receive will vary depending on the plan you choose.
Short-term health insurance plans typically have higher deductibles and copays than ACA-compliant plans. This means that you will be responsible for paying a larger portion of your medical costs out of pocket before your insurance kicks in. Short-term health insurance plans may also have lifetime limits on the amount of coverage they will provide.
Who is eligible for short-term health insurance?
Short-term health insurance is generally available to anyone who is not currently enrolled in another type of health insurance. However, some states have restrictions on who is eligible for short-term plans. For example, some states may require that you have a pre-existing condition in order to qualify for short-term coverage.
What does short-term health insurance cover?
The coverage that short-term health insurance provides varies from plan to plan. However, most short-term plans will cover the following:
- Emergency room visits
- Prescription drugs
- Doctor visits
- Urgent care
Some short-term plans may also cover other benefits, such as maternity care or mental health services. However, it is important to read the plan carefully to see what is and is not covered.