Short Term Health Insurance

What Is Short Term Health Insurance?

Also known as Term Health Insurance, it is health insurance intended to provide   coverage during the gaps between more permanent health care plans.

Is Short Term Health Insurance for You?

If you are between jobs, waiting for another plan to begin, waiting to be eligible for Medicare, lacking coverage because you missed the Open Enrollment period or for any other reason you need to fill a gap in coverage then a Short Term Health Insurance Plan may be perfect for you.

What is the main difference between Short Term Health Insurance and Obamacare?

The main difference is the coverage benefits. Obamacare requires a broader minimum coverage for it’s plans. Obamacare plans must have what is called “10 Essential Health Benefits.” Short Term Plans are known for just covering serious medical issues along with normal doctor visits.

Pros to consider:

  • Can be cheaper than Obamacare plans even with the tax penalty
  • You can apply at any time and get coverage the next day
  • You can usually cancel at anytime
  • You may only need coverage for a short period of time
  • Coverage duration is usually less than 3 months

Cons to consider:

  • Your application can be denied due to pre-existing health conditions
  • Not renewable so you must reapply after the coverage term expires
  • The Obamacare tax penalty still applies despite Short Term coverage
  • Coverage duration is usually less than 3 months