Get The Facts About Short Term Health Insurance

Short term health insurance is a great product for those transition periods between employers. The policy offers options for the number of months you want coverage and some allow a one-time renewal without qualifying health questions. This feature is important, so read each application carefully.

Today, no one can afford to go without health coverage. When you consider that a week in intensive care can run upward of $250,000, a major accident or illness can destroy your entire financial future. Even less catastrophic health problems can set you back for years. Health insurance is the only affordable way to handle most medical problems. If you develop a major medical problem when you dont have coverage, insurance companies can deny or postpone future coverage due to pre-existing conditions. In other words, you don't want to go even for one millisecond if you have a pre-existing condition, since with continuous coverage with no lapse in coverage, the pre-existing condition has no bearing on your situation, but if you had even a momentary lapse in coverage can make your pre-existing condition a coverage issue.

When you leave a job, you get the option for coverage under COBRA. These plans are often quite expensive but very worthwhile if you have pre-existing health conditions. If you and your family are healthy, then a short-term policy could mean hundreds of dollars of savings for you when you compare the rates to COBRA. If you have pre-existing conditions, you may not be able to get coverage. What if your children are healthy and you arent? Then cover the children with short-term health insurance and carry COBRA coverage for yourself. This savings can still be substantial.

HIPPA guarantees that you have the right to buy coverage and are exempt from the pre-existing conditions exclusion if you follow a few steps. You must have had 18 months of continuous coverage under a group plan, use up any COBRA, not be eligible for Medicare or Medicaid and apply within 63 days of losing your previous coverage. Finding good health coverage in that period is imperative to those whose health is less than perfect.

If your need is just between jobs, between college and your first job, after retirement but not quite at Medicare, or while you wait for your new employer's plan to start, then short-term health insurance may be just what you need. The premiums are frequently a lot less expensive than the traditional health care plan and coverage is almost immediate in most cases.

If you determine that you have a need that is longer than short-term health policies cover, consider a plan with a health care savings account and a higher deductible. This type of plan is particularly good for those that seldom go to the doctor. As the savings plan grows, you increase your deductible, and therefore shrink you premium payment even further. Dont forget to sign up for a short-term health policy while you wait for the company to accept you for coverage. No one can afford to go even one day without some form of health insurance.

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