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SHORT TERM INSURANCE

Insurance for Short-Term Situations

You may need provisional or short term health insurance in many different situations: just out of school, between jobs, not yet eligible for new employer’s coverage, temporary employee, early departure, and after COBRA coverage ends.

Short term health insurance for healthy people is fairly low in cost. You also have a wide range of options from which to choose, from very basic coverage to almost total comprehensive. Some people only buy insurance that will help when medical problems are catastrophic in nature. Most people go with temporary insurance that covers most options and lasts from three to 12 months.

You will have freedom of option for the doctors and hospitals you use and may have a quite low deductible. The insurance works like most other health insurance policies, covering hospital care, emergencies, surgery, blood work, x-rays and more. But if you have a pre-existing condition, you may be deprived of coverage. This is how the insurance companies keep the cost of these short term policies so low.

There are several disadvantages to temporary insurance. You may require pre-certification for many medical services. You need to make sure the deductible is payable only once and is not obligatory for each illness or accident. Also, your use of the insurance for an accident or illness may be cited as a pre-existing condition when applying for another temporary policy, consequent in disagreement of more insurance.

COBRA or the Consolidated Omnibus Budget Reduction Act was enacted in 1985 and allows capable employees to continue their group health insurance coverage at their own expense for a chosen period of time. Rather than buy temporary insurance, it is often best to continue your present coverage through COBRA. If the 18 months or 36 months of COBRA coverage is almost over and you are not yet enclosed under another health insurance policy, short term insurance is a superb choice for you.

Points to be considered when buying temporary or short term insurance:

• There is a wide range of treatment in temporary insurance.
• You can buy insurance that only covers terrible medical problems. Most people get short term cover with more coverage.
• Most short term insurance lasts from 30 to 365 days.
• If you have a pre-existing condition, you will likely be denied impermanent health insurance.
• Be aware of the disadvantages of this type of health insurance.

Short term medical and health insurance coverage can protect you in the event of an unforeseen illness or injury. Unlike many health insurance plans out there, short term health insurance allows you to choose your doctors and hospitals and pays for all covered expenses once your deductible and coinsurance amounts have been met.

Short term medical insurance is designed to provide coverage for major hospital, medical, and surgical expenses incurred as a result of medically essential care for a covered illness or injury. Coverage is provided for daily hospital room and board,miscellaneous hospital services, surgical services, anesthesia services, in-hospital services, and out-of-hospital care, subject to any deductibles or rate of payment provisions or other limitations which may be set forth in the policy.

Incidents that are covered by most short term health insurance plans include:

• Major hospital, medical, and surgical expenses
• Daily hospital room and board
• various hospital services
• Surgical services
• Anesthesia
• Out patient care
• Coverage lasting between 30 days and 1 year

This policy usually covers

• Hospital semi-private room-and-board charges
• Hospital intensive care charges
• Hospital outpatient charges
• Inpatient psychiatric care
• Other miscellaneous hospital and physician services
• Doctor office visits and surgical charges
• Prescription drugs and blood products
• Radiology and laboratory charges
• Manipulative therapy

Usually, short term health insurance policies are not renewable and therefore not meant to be purchased in place of usual coverage. For the most part, they are fee for repair or indemnity plans which means that custom check-ups and pre-emptive care won’t be covered. Dental and vision aren’t enclosed either and most pre-existing conditions claims are denied, too. Most can be relevant to spouses and dependent children as well.

For more informations on our services contact insurance brokers John Good| Kelly Good