A move to short term medical insurance can be smart if you meet certain criteria. Some of the more basic reasons why someone would switch to a temporary health insurance policy would be as follows:
- You are in between jobs and are waiting for your new small or large group health insurance plan to kick in. Most new hires have a typical 90 day wait before their benefits kick in, but some lucky ones are at 30 days. Either way, a short term health insurance plan can bridge that gap and give you peace of mind.
- You are a student and the university either does not offer student health insurance or their plan is inadequate for your needs. Most of your larger schools will offer some type of student coverage, but your smaller schools typically do not, but still require them as a condition of registration.
- COBRA benefits can be very expensive and if you cannot afford that coverage, a short term medical could be perfect as long as you have no pre-existing conditions. Honestly, why would you even consider COBRA if you are out of a job, not earning income at the same level as before and can buy a short term health insurance policy for a fraction of the amount?
Basically, no matter the situation, a temporary health plan can bridge the gap between plans and give you peace of mind. All for a fraction of what an ACA compliant policy can provide.
Sometimes people can be tempted to go without health insurance coverage and “take that risk”, but this is a bad idea. You can be just one appendicitis or bicycle accident away from 10s of thousands of unexpected medical bills. Why take that risk when you can eliminate most of the common reasons people end up in financial straits for just a fraction of what an ACA policy would run.
Short term medical plans are a great solution because they can be tailored to fir exactly what you want. They are typically available from 30 days up to a full 12 months which can bridge that gap we to the exact day. These plans can be bound and in force as soon as midnight of whatever day you enroll. Finally, all the temporary health insurance options we offer are linked to PPO networks. That’s right! You can stay with your current doctor and even have access to facilities and or Specialists that an ACA compliant HMO can’t give you.