Recently, more and more people are interested to know what is a short term health insurance. These policies are available up to 12 months, with an alternative to extend them to 36. Short term health insurance plans have a lower price, but for a reason: they have lower coverage too. These types of policies cover less medical services than long term health insurance, however, they are a good choice for some groups of people.
Health insurance policy, especially short term insurance can be confusing, so if you are wondering is short term health insurance a good idea and a suitable option for you, in this article we will cover everything you need to know about it, to help you decide.
Short Term Health Insurance Vs Long Term
Short Term Plans Don’t Include Certain Types of Care
The reason why short term health insurance plan isn’t qualified for the Affordable Care Act (ACA) is that it doesn’t include maternity care, prenatal care, drug treatment, and mental health treatment.
You Can Be Denied Based on Your Pre-Existing Condition
With short term health insurance, you can be denied even if you have medical issues that haven’t been previously diagnosed. You have to ask yourself is short term health insurance really a good idea because even if you have a minor allergy, you will either have to pay a higher price or simply be denied.
Some Plans Don’t Cover Sports Injuries or Other Common Health Problems
Certain categories of care are excluded from short term health insurance plans, like joint replacement surgery, cataract treatment, treatment for acne or moles, sports injuries, immunizations or treatment for chronic pain. Also, you can’t count on care if your injury occurred while you were intoxicated.
Short Term Plans Have the Limit on the Amount of Care
A basic short term health insurance plan has a limit of $250,000 up to $2 million on medical care, so if you reach the limit at some point, your care will be cut off. Also, short term plans have a limit on how much money should be spent per day, and a maximum is $1,000.
Short Term Plans Are Cheaper
Despite the gaps in health coverage and other unordinary rules, a lot of people opt for a short term insurance plan coverage. The reason is simple: it is cheaper than other health insurance plans, including the long term ones.
The prices of the short term plans are very attractive and many people opt for this type of health coverage due to the money difficulties. With all its downsides, short term plans are not for each and every individual, however, they are a much affordable option for big groups of people or large families with lower incomes.
Still wondering is short term health insurance good option for you? If the answer is YES, take our advice and carefully read what the short term health plan covers and what it doesn’t, and pay extra attention to the fine print! Don’t confuse it with a basic health insurance plan.
Consult with a professional because if you don’t, you might have a problem when choosing the right short term health insurance policy. Doublecheck if there are any hidden costs you will have to pay later on, and what is the amount of money you will need for the policy.
If you’ve already decided on a short term health coverage, take a look at what we at WellAway have to offer. Our short term Pristine plan offers practical coverage in the event of an accident or illness, with additional features including worldwide coverage and a high annual limit of 2 million US dollars.
If you still aren’t sure what is the best choice for you, feel free to reach out to us, and our friendly staff at WellAway will do its best to help you decide!