Short term health insurance is designed to provide coverage during gaps in standard health coverage. A short term plan is a good solution if an individual is between jobs, recently graduated, on strike, or waiting for a new health plan to take effect. Plans are typically available for periods of 1 to 12 months.
Short term health insurance can be paid monthly, like traditional health plans, or in one lump sum payment. One major advantage of short term plans are that they are often half as expensive as a regular health insurance policy and can even cost you less than COBRA coverage. When applying for a traditional health insurance plan, you may have to wait a month or two to find out whether you have been accepted. This is not the case with short term health plans which can be approved and activated the very next day.
Short term health care plans consist of a deductible, payment options and the length of coverage. Such plans are not defined as Health Maintenance Organization (HMO) or Preferred Provider Organization (PPO) plans, and therefore you are free to select your own doctors and hospitals during the life of the policy. Short term health insurance plans usually offer coverage for prescription medications, ambulance services, lab and x-ray services, intensive care, and extension of benefits for certain disabilities.
It is never worth the risk to go without health insurance coverage. Even if you will only have thirty days without an insurance policy, you never know what could happen during that time. With the low prices and flexibility of short term health plans, there is no good reason to go without coverage. Whether you have recently graduated from college, are being removed from your parents� health insurance plan, in-between jobs, or laid-off, a short term health plan may be a great option for you. Even if you currently have COBRA coverage and would like more time to shop around and make a decision, a short term plan can work for you