If you are between jobs or just waiting for benefits to
kick in, Short-Term Medical Health Insurance may be just what
you and your family need. No one can predict when accidents
will happen or when a sudden illness may become a reality
at any time. Having enough protection to cover these unexpected
costs is very important and can make the difference between
financial security and the stress of compounded debt.
Economy Pushes Temporary Health Insurance
With unemployment numbers on the rise, more people are searching
for temporary health insurance that will tide them over until
they are able to secure a job that will provide adequate benefits
for them and their families. If you fall into this category
or if you simply find yourself in a life transition and in need
of medical insurance coverage, you will want to keep your financial
future safe by obtaining a Short-Term Health Insurance policy.
The cost of temporary insurance is nearly half of what regular
insurance costs, and will typically be based on the state
the policy is issued, the age of the insured and sex. Most
states offer these policies, with the exception of Massachusetts,
New Jersey, New York, and Vermont. However, coverage can still
be utilized in these areas.
Tips for Using Temporary Insurance
Depending on the policy that you obtain through a Short-Term
Medical Insurance carrier, it may expire as early as 6 months
and could be carried over for as long as 36. Using this type
of insurance as a primary form of insurance can be satisfactory
as long as you are healthy, but the unexpected does happen and
the last thing you want to do is find yourself in a financial
crisis because you were ill prepared for unforeseen events.
- Short Term Health Insurance works much like a PPO in that
you are allowed to use any doctor at any facility, but the
coverage is more extensive if you use an in-network provider.
The ease of allowing the facility to handle all of the paperwork
and billing makes it less of a hassle for you and using
a preferred provider often discounts your treatments or
visits 20% or more under the cash price.
- Most policies will allow you to continue coverage after
the expiration date, but keep in mind that you will not
be covered for pre-existing conditions on the new policy.
- If you pay for your policy in advance, most carriers will
offer an additional 20% discount.
- There are four states that do not offer health insurance
short term (MA, NJ, NY, and VT). This does not mean that
your options are closed. A policy can be legally obtained
while traveling. Short-Term Health Insurance can be used
in a restricted state as long at it was purchased in an
eligible state.
- Some carriers offer cash rebates or incentives for completing
satisfaction surveys, so take advantage of them whenever
possible.
|
