Short Term Health Insurance Coverage
The worldwide recession that has hit American hard, has resulted in hundreds of thousands of its citizens losing their health insurance, and they are now at the mercy of a medical and financial catastrophe. However, job losses are only the most obvious event that causes so many people to be without health insurance, frantically seeking a health plan to cover them and their family.
Other individuals who have no insurance for one reason or another are known as ‘in-betweens’, and America has a staggering amount of them. They include:
- 22 million part-time workers
- 5 million students who have just graduated and are no longer protected by their parents’ health insurance policies
- 900,000 newly divorced people, who lost their coverage in the divorce settlement
- 300,000 newly released members of the military
- 8.7 million Americans who have just been laid off and are currently seeking employment, and who cannot afford COBRA coverage
- 5 million Americans who have taken or have been forced into early retirement
There are short-term major medical health insurance policies which are appealing to those who are considered to be ‘in-between’, because they are looking for a short-term solution to their health insurance problem. Private health insurance companies have seen an increase in demand for these policies, (which usually last from one to six months) because they are the perfect solution to short-term worries about being open to a medical problem that could cripple them financially.
Other benefits of ‘quick-fix’ policies
If you are a healthy individual, the insurance company may be able to process your application and have you protected within a day or two. If you know precisely how long you need this protection for, most companies will allow you to pay the entire bill in one easy payment.
These policies claim to be anywhere up to 35 percent cheaper than the usual private health insurance plan, and also have deductibles and a choice of premiums. They cover a selection of doctors, surgeries and hospital services, and the policy holder can choose which physician and hospital they prefer, though using a physician and hospital that are under the insurance company’s preferred list of providers is likely to get you a discount. If you are in good health, and need a quick solution to health care insurance problems, this type of policy could be suitable for you.
Why short-term is not useful
While these plans are ok for healthy people, they do not cover anyone who has had a previous medical problem. Also, preventative care and doctor’s visits are not covered either. It would be wise to check the policy to see what else is excluded. Short-term health insurance is not available in certain states. Even for such a short-term policy, you should always check what it is you are signing, and ensure that it caters for your medical needs.
Compare health insurance rates online with Insurewish.com
Health Insurance Providers
