Short Term Health Insurance, easy.
Short term health insurance plans are for those who missed the open enrollment period for major medical, are waiting for benefits to begin, those who are looking for a lower cost alternative to major medical or for those who need some coverage in case of emergency.
There is no waiting period for enrollment in these plans and coverage can begin as early as the next day. Coverage for doctor visits, emergency room and ambulance, urgent care, some preventative care and more.
THIS PLAN PROVIDES LIMITED BENEFITS.
THIS COVERAGE IS NOT REQUIRED TO COMPLY WITH FEDERAL MARKET REQUIREMENTS FOR HEALTH INSURANCE, PRINCIPALLY THOSE CONTAINED IN THE AFFORDABLE CARE ACT. BE SURE TO CHECK YOUR POLICY CAREFULLY TO MAKE SURE YOU ARE AWARE OF ANY EXCLUSIONS OR LIMITATIONS REGARDING COVERAGE OF PRE-EXISTING CONDITIONS OR HEALTH BENEFITS (SUCH AS HOSPITALIZATION, EMERGENCY SERVICES, MATERNITY CARE, PREVENTIVE CARE, PRESCRIPTION DRUGS, AND MENTAL HEALTH AND SUBSTANCE USE DISORDER SERVICES). IF THIS COVERAGE EXPIRES OR YOU LOSE ELIGIBILITY FOR THIS COVERAGE, YOU MIGHT HAVE TO WAIT UNTIL AN OPEN ENROLLMENT PERIOD TO GET OTHER HEALTH INSURANCE COVERAGE.
THIS POLICY DOES NOT MEET THE DEFINITION OF QUALIFYING PREVIOUS COVERAGE OR QUALIFYING EXISTING COVERAGE. AS A RESULT, IF PURCHASED IN LIEU OF A CONVERSION POLICY OR OTHER GROUP COVERAGE, YOU MAY HAVE TO MEET A PRE-EXISTING CONDITION REQUIREMENT WHEN RENEWING OR PURCHASING OTHER COVERAGE.
SHORT TERM MEDICAL (STM) AND HEALTH CARE REFORM
SHORT-TERM, LIMITED-DURATION PLANS ARE NOT SUBJECT TO CERTAIN PROVISIONS OF FEDERAL HEALTH CARE REFORM, INCLUDING THE PROVISIONS RELATED TO ESSENTIAL HEALTH BENEFITS, LIFETIME LIMITS, PREVENTIVE CARE, GUARANTEED RENEWABILITY, AND PRE-EXISTING CONDITIONS. THE PRE-EXISTING CONDITION EXCLUSION FOR SHORT TERM MEDICAL PLANS WILL APPLY FOR ALL INSUREDS, INCLUDING THOSE UNDER THE AGE OF 19. EXAMPLES OF THE CLAIMS STM PLANS DO NOT COVER ARE FOR MOST PREVENTIVE CARE, MATERNITY, MENTAL HEALTH AND TREATMENT RELATED TO MEDICAL CONDITIONS THEY HAD PRIOR TO THE PLAN’S EFFECTIVE DATE. BECAUSE THESE PLANS ARE NOT GUARANTEED RENEWABLE, THE APPLICANT MAY NOT BE ELIGIBLE FOR ANOTHER SHORT-TERM PLAN AFTER THE PLAN’S TERMINATION DATE; AND THE PRE-EXISTING CONDITION EXCLUSION WILL APPLY TO ANY CONDITIONS THAT AROSE DURING ANY PRIOR SHORT-TERM PLANS. KNOW YOUR PLAN.
SHORT TERM MEDICAL AND SUPPLEMENTAL ACCIDENT AND CRITICAL-ILLNESS PLANS OFFER AFFORDABLE COVERAGE, BUT MAY HAVE ELIGIBILITY QUESTIONS (SO YOU CAN BE DECLINED) AND DO NOT PROVIDE MINIMUM ESSENTIAL COVERAGE. THIS MEANS THE INSURED MAY HAVE TO PAY A TAX PENALTY, DEPENDING ON THEIR INCOME LEVEL AND THE COST OF PLANS AVAILABLE.