Best Health Insurance
If you are looking for a temporary option for health insurance, then you might want to consider the best short term health insurance. This option is ideal if you lost your current coverage but you cannot obtain a major health plan yet because you do not qualify for a special enrollment period. Or, perhaps, you are waiting for your new employer’s benefits.
Whatever your situation is, you may find the best health insurance to be a temporary solution for your health care coverage gap issue. You can apply for one at any time of the year, unlike major healths plans that you need to wait for an open enrollment period to register.
Here, we highlight 5 steps to help you find the best short term health insurance for your situation.
1.) Know the length of time you need coverage
Short term health insurance is only a temporary solution. Thus, you must not use it as a long-term coverage. The shortest policy length is 30 days. But you can have up to 364 days policy. However, such coverage may depend on the states you live in. Some states offer longer policy lengths while others will only allow you to have it for a few weeks or months.
2.) Find out the benefits you need
You can find a plan that offers benefits for prescription drugs and preventive care. Some plans provide coverage for your pre-existing conditions. But they are rarely found.
The majority of short term health insurance can only cover you for unexpected medical care bills, like if you get treatment for getting sick or injured.
Short term health plans are not part of the Affordable Care Act. Thus, they are not required to give you coverage for the 10 essential health benefits highlighted in the ACA. For that reason, it is rare to find a short term plan that covers pre-existing conditions or preventive care. It may be rare but it exists.
On the other hand, if you need to obtain more robust benefits but you cannot have a major health plan, then you can just add a hospital plan to your short term plan. Some states allow hospital indemnity insurance. But it can only be used to supplement a major health insurance policy.
3.) Consider the premium and deductible of the policy and what you can afford to pay
Premium is what you will pay monthly. The higher you pay in premium, the lower the deductible you will need to pay before your coverage starts, and vice versa. The overall cost of premium varies depending on the benefits and deductibles.
If you care more about coverage for pre-existing or preventive care, then you will have to pay more for your monthly premium. Besides premium, you will also take care of multiple deductible options. Picking a policy with a lower deductible cost will mean that you need to pay more in monthly premiums.
Unfortunately, short term health insurance is not eligible for Obamacare subsidies. However, if you are qualified to obtain premium tax credits, you should opt for a major health plan.
An Obamacare plan can help you save more on benefits. But you will need to qualify for special enrollment. Or you should enroll in an ACA health plan during the yearly open enrollment period. You can obtain such a policy through the federal marketplace or find it through a state exchange.
Private marketplace insurance policies do not qualify for subsidies or reductions.
4.) Decide whether you wish to keep your physician
If you have a physician, a hospital or a healthcare provider that you prefer, then ensure that you pick a short term health plan that does not have any network limitations. The good thing is that the majority of health plans do not have network restrictions.
But you can save money if you choose a physician or a hospital within the network of your plan. Many short term health insurance plans have national networks. These networks consist of healthcare providers, doctors, and hospitals that can give you discounted prices for your treatment.
5.) Determine when you need coverage
Short term health insurance is available all year round. Thus, there is no waiting period, unlike a major health plan. In that case, you can obtain one if you become temporarily uninsured.
You can request quotes in less than a minute so you can start comparing policy options. If you find the coverage that you want, you can apply for it. Once approved, you will get coverage as soon as the following day.
However, not all short term health insurance can give you quick approval and coverage. In some cases, you will have to wait for a few days for your application to get approved and your coverage starts.
On the other hand, if you qualify for special enrollment, consider getting an Obamacare plan so you can get major health coverage.
After finding the right short term health insurance, considering shopping for it in as easy as 1-2-3.
1.) Obtain a quote
When obtaining a quote, you will have to provide your basic details, like your zip code and your date of birth. You will get quotes for several policy options within a few seconds.
2.) Choose a plan
After collecting the quotes, you can start comparing the options side by side. If you have found the best plan for your situation, then consider applying for it online. All you have to do is answer a simple set of medical questions.
You are also required to enter your contact information and payment details. After that, you will need to wait for approval. As mentioned earlier, some plans will approve your application immediately. Depending on your situation, you may get approved immediately or you will need to wait for a few days.
3.) Start coverage
Once you get the approval, you will get the coverage that you need the next day. That’s why short term health insurance is useful if you require emergency coverage. This immediate approval and coverage do not happen when you have a major health plan.