Short term health insurance is another health insurance you can avail. As the term itself, it covers the insured on a limited period of time. This is good for those who are in between jobs or those waiting for other Health Insurance to typically start. Companies normally avail this to avoid problems when their employees no longer work in the company. The coverage last only for 6 months up to one year.
It is normally cheap as the program for the typical short term health insurance includes 50% of the fee oto your company and the other 50% shouldered by the insured. With the short term health insurance, you are not limited to any hospital or doctor so you can choose or seek the best treatment for you and the insurance company will be obliged to help you out. Payment of the premium is very manageable depending on your desired scheme. You can avail it on single payment basis or 30 days – 365 days which ever you find convenient for you. When the incident occurs in the period covered by the insurance, your sort term insurance will cover prescription drugs, inpatient hospital services, ambulance services, X-ray and laboratory services, and other services they deem necessary for your condition. It can help you with an overall cost of as much as 2 Million dollars to 5 million dollars depending on the policy you availed.
Availing the Short term health insurance is simpler as compared to the normal long term health insurance. Parents can also try availing the insurance for their children as young as a 3 day old baby. If you no longer want to be under the policy, you can simply cancel the premiums and follow the procedure of the insurance you wish to cancel.
It is designed to protect against unforeseen accidents or illnesses rather than providing a comprehensive coverage. What the short term health insurance covers are those condition which occur or started within the period agreed in the policy. As such, it doesn’t typically include the coverage for preventive health care services, physical examination, immunizations, dental and eye care. With this given, the short term health insurance held not liable to cover pre-existing medical condition. Those illnesses which are already diagnosed to occur or are treated within 3 to 5 years (depending on the policy) are excluded in the policy.
Since the policy doesn’t consider pre-existing condition, there are some limitations for those who are overweight. Men who weigh more than 300 lbs and women weighing more than 250 lbs would find it difficult to avail the short term health insurance.
Purchasing the short term health insurance can also make you ineligible for any guarantee issue of individual health plans called HIPAA which stands for Health Insurance Portability and Accountancy Act. The HIPAA is a very expensive type of health insurance. It is intended for those who have pre-existing health condition that are having difficulty in availing any particular health insurance. It is just necessary since when you are eligible to short term health insurance, you are free of any preexisting condition.
Renewing the short term health insurance is possible depending on some condition or depending on the policy you wish to renew. Keep in mind that this insurance does not include preexisting condition. For example, if you experience any accident (which I don’t wish to happen to everyone) and you are currently experiencing the privileges from a short term health insurance, by the time when the coverage of the short term health insurance ends, so will be its assistance to your health care needs. Renewing it would also be different. Since you are still under treatment, the renewed short term health insurance is no longer liable to the condition you are at that moment making it useless. Other companies may no longer allow your renewal to the program.
Short term health insurance may come cheap but can only be availed for a limited period of time. No one can tell when you are to get sick. Despite the benefits it may offer, it would also be a waste if you are not able to experience the privileges of the insurance before it expires.
It is more of which is your priority. The government is able to oblige every citizen to avail a health insurance for their own. What type of health insurance is the thing you have to think about. Knowing your health condition is also a factor to consider which type of insurance to take. Short term health insurance is categorized under private health insurance. There are public health insurances that can cover long-term health care services if you wish. You have many choices you can choose from.
Do not be confused of the different health insurance offered to you. Be careful on availing health insurances to avoid fraud or avoid availing health insurance that does not fit your lifestyle or your needs. If you’re not wise enough, you might end up wasting your money to an inefficient health insurance because it is not able to satisfy your needs or is not able to live with your lifestyle. Short term health insurance may be beneficial for some but not for all. Researching, studying about the different health insurance and knowing the definition of some terms will help you out in picking the best health insurance for you.
It would be worth the effort. Health insurances are made to assist you and not to be bought to burden you. There are different versions of health insurance are out there to carry out different needs of the people who avail them. There is no perfect health insurance because it is also business (talking about private health insurance) but you can choose which is best for you. Whether long term or short term health insurance, they all have some advantages and disadvantages to consider. More importantly is to consider which company you wish to invest for your health insurance. Credibility must be on top of your list to consider because you wouldn’t want to end up paying to an insurance that doesn’t really exist.