Short-Term Health Insurance
December 19th, 2008 Filed Under Travel Insurance
Short term Health Insurance
Short term health insurance serves as a temporary insurance solution for a relatively short time span and is meant for healthy persons who do not intended to cover pre-existing conditions.
As the name denotes, short term health insurance policies are a temporary insurance solution. Generally, most of the short term health insurance policies offer coverage up to 12 months. In a few cases however, some policies offer coverage up to 3 years.
These policies are specifically designed for those healthy persons and families who do not intended to get coverage for their pre-existing conditions. In fact, short term health insurance can offer a very good low cost safety package in the event of any injury or illness developed during its coverage term.
The benefits of these insurance policies can be wide ranging as most of the plans offer 1 million dollar coverage per person. As more and more people are inclined to join this safety net of 16 million people in the US, the competition in the sector has become fierce resulting in very low premiums.
Low premiums have been one of the major appeals of short term health insurance policies. But here you have to remember one thing that these low cost plans are not designed to cover any pre-existing conditions or ailments of the covered individual. Because of this limitation it is feasible for these insurance companies to offer such a low cost plan. The definition of pr-existing conditions can be done as the symptoms occur during the three year period prior to the start of the insurance policy.
It is always better to remain honest and mention the pre-existing conditions if there are any. Otherwise, you may lfind yourself in the awkward position where your claims are all denied. All short term insurance policies have their own list of limitations and exclusions. It is always advisable to go through this list before choosing your coverage policy.
Targeted Clients
Due to its high coverage limits and low monthly installments, the sales graph of short term health insurance policies has been shooting upwards of late. In the health insurance industry, short term insurance policies stand as the shortest application. Now days many insurance companies also offer credit card payment plans. Hence, for a certain section of the healthy community, this serves as the best option.
Persons doing part time jobs or the temporary employees are the most likely persons to benefit from such policies. As most of the corporate insurance plans do not cover part timers or temporary employees, short term health insurance can be the best option for them.
Short term health insurance policies are also beneficial for those individuals are temporarily out of work. Thus people between jobs are one of the most likely consumers of these policies. Under the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) individuals who are laid off or are between jobs are permitted to continue their policies with their previous employer for three years.
Another group of consumers that can benefir from short term coverage are recent college graduates. Many graduates have no coverage between graduation and finding their first job. Short term insurance can fill this void for them until they land a job that offers medical coverage.
So in short if you are healthy, unemployed, or doing part time work, going to school, just graduated, getting early retirement, or leaving home for the first time you are a potential consumer for short term health insurance.
Eligibility
In order to be eligible for short term health insurance policies you must comply with some conditions.
1. Your age should be below 65.
2. You shouldn’t be covered by another health insurance policy.
3. You should not have ever been denied health insurance previously.
4. Every short term health insurance policy comes with its own set of qualifying conditions such as height and weight requirements.
Things which are not covered by Short Term Plans
In order to keep the premiums low these short term plans don’t offer all the benefits of regular health insurance plans. As mentioned above they don’t cover treatment of pre-existing ailments. Moreover these plans don’t include routine and regular medical checkups, dental or optical care, preventive care, or pregnancy expenses.
All short term insurance policies are excluded from Health Insurance Portability and Accountability act of 1996. These companies are not required to guarantee a policy renewal.
Although there are many limitations and restrictions, short term health insurance policies can assist you in filling the voids in your coverage of health insurance. And that is where its significance lies!
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By Jayashree Pakhare Insurance-MedicalHealth.com provides information on all aspects of medical health insurance including individual and family health insurance plan coverage, short-term health insurance, expat medical insurance, travel insurance, health insurance for pre-existing conditions, supplimental health insurance, medical health insurance lawyers and attroneys and much more. |
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[...] aspects of medical health insurance including individual and family health insurance plan coverage, short-term health insurance, expat medical insurance, travel insurance, health insurance for pre-existing conditions, [...]
[...] aspects of medical health insurance including individual and family health insurance plan coverage, short-term health insurance, expat medical insurance, travel insurance, health insurance for pre-existing conditions, [...]
I always make sure that my family gets Health Insurance from very reputable companies. health insurance is very important these days..-;