Short term health insurance in 2020 offers flexible medical insurance coverage. But it does not include all protection of the Affordable Care Act or ObamaCare. It has its own pros and cons and we will discuss them in this post.

Some of the Benefits of Short-Term Medical Insurance

The most important benefit of Aetna short term health insurance 2020 is that it offers low cost, even though the coverage is limited. Furthermore, you can get easily approved. In fact, if you have provided all the requirements, you can get approved as early as the following day. The coverage can be from a few days or a few months. And its main goal is to bridge the gap in between transition.

What are Its Downsides?

The plans do not include any pre-existing conditions. They also do not cover the minimum essential coverage as they do not follow the Affordable Care Act rules. Short-term medical insurance does not offer the health benefits of ObamaCare.

It is not for those who require special medical care because it has a limited list of doctors in the network. Furthermore, it prevents you from obtaining HIPAA or COBRA.

Who Is It for?

Short-term medical insurance is not for everyone because of its limited coverage. But it is designed for individuals who are healthy and they are not eligible for cost assistance.

This type of insurance is also ideal for those who are transitioning from one plan to another or they have missed the open enrollment.

If you qualified for any cost assistance or are living in a state with a requirement to get coverage, then you need to obtain major medical plans. But you can only do so during the open enrollment.

Between 2014 and 2019, you would pay a fee if you did not maintain minimum essential coverage. However, most states in the US eliminated such mandate in 2019 moving forward.

In that case, you can use short term health insurance in 2020 as an alternative to a major medical plan. However, it should not be used as your only plan as it offers limited coverage.

This plan does not make you eligible for a cost assistance program. It also does not include all the rights and protections, as well as the benefits of the Affordable Care Act.

Where and How to Buy Short-Term Plans?

These plans can only be obtained through a private broker. The good thing is that there are several options for a broker.

It is ideal to look for a broker who can also enroll you in a marketplace plan. This broker can show you not just the short term plans but also the marketplace plans.

In other words, you can have access to a wide range of options. If you need help in finding a marketplace qualified broker, you may call our hotline number.

Is It a Good Choice?

As previously mentioned, this type of insurance is not for everyone. Rather, it is only for people who are transitioning from one coverage to another. It is also given to individuals who wish to have catastrophic health coverage while waiting for open enrollment.

The plans do not cover all the benefits of comprehensive coverage. Then again, it is better than nothing.

It can protect you in case of a medical catastrophe and you are without insurance. Keep in mind that any medical costs can quickly add up. The costs are higher than the overall cost of the short term premium.

The Trump administration has expanded the short-term plans. Even though this type of insurance was meant to be temporary, you can now use it for a full year.

In other words, it can be used as a replacement for major medical coverage. Despite the expansion of the plans, it does not make you eligible for special enrollment in the marketplace plan.

Can the Plans Be Renewed?

They are non-renewable. In other words, your insurance provider is not obliged to renew it. Each time you have to renew your plan, you need to be qualified for it. Furthermore, you can be denied from having this coverage if you have a pre-existing condition.

What Happens If You are Declined?

This type of insurance is not major medical insurance. The insurer may deny you of coverage based on your medical history.

However, there are various options if your application has been rejected. You may apply for guaranteed issue plans. They can give you coverage regardless of your medical history.

To use this plan, you need to know whether or not it has a network of doctors. Physicians who are part of the provider’s network could accept your card.

However, if your plan does not include a provider network, you could see any physician that you wish. But you will have to ask for reimbursement and you need to send all medical bills to your insurance provider. In other words, you have to choose a payment plan or pay the medical care out of pocket until you have been fully reimbursed.

Preventive Care

Under this type of insurance, preventive care may be included. However, coverage is limited. For that reason, it is vital that you check the details of the plan for further information.

As regards to the prescription coverage, it may be covered, depending on your plan. You need to learn more about the plan you are planning to purchase.

Some plans may require you to choose a primary care physician. However, the majority of the short term plans do not require you to visit a qualified doctor first before you can see a specialist. You can see any qualified doctor you pick.

And if you no longer plan to use it, you can cancel at any time without paying a penalty fee. Your insurer will refund whatever premium you have paid beyond the new end date.

To help you better understand your Aetna short term health insurance 2020 options, you may use our website to request quotes. You can compare one plan to another for free using our website’s tool.