Short Term Medical: Is It Beneficial?
March 27, 2009
Short-term medical insurance is an affordable option to a regular health insurance plan. If you are in good health and still young, a short-term health insurance plan might be more beneficial than an extensive health insurance plan.
Standard plans are quite costly compared to short-term health insurance plans. Short-term health insurance plans don’t cover the extended benefits that typical plans often provide.
Instead of having visits fully or partially paid by your health care network, you will have to pay all fees for all non-emergency doctor’s visits and elective surgical procedures. Costs for all prescription drugs and ob-gyn visits are not covered by short-term health insurance, either.
Though you may be eligible for coverage from other sources, short term health insurance does not pay for maternity and delivery costs. If you do have a severe medical emergency, your short-term health insurance provider will reimburse you up to a specific amount once you have met your deductible.
Typically, the lower the deductible, the higher your monthly premium will be. Nearly all short-term health insurance plans have a max of less than one year. After the year period, you can still get coverage from another provider. If you want to explore your options just use the Internet for a full list of options. Short-term health insurance is not suited for most people.
If you routinely buy costly prescriptions for existing medical issues then short term medical insurance isn’t likely for you. If you don’t have health insurance through a job and want a cost-effective alternative that covers you in the event of an emergency, short-term health insurance may be the best choice.
The application process is simple and policies can be issued the next day. Most insurers take credit card payments. Pre existing health problems will not be covered by short term policies.
These are typically defined as any condition you had during the 36-month period prior to the start of coverage. Each state is different in terms of what is called the “look back” period. The insurance department in your area can inform you as to what laws pertain. Read the policy carefully before you buy because all short-term policies have very specific limitations and exclusions.
Get more tips at: Arizona health insurance and Arkansas health insurance
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