5 Priceless Individual Short Term Heath Insurance Facts

Individual short term health insurance may not seem like something that would be a high priority. But what happens to you when you don't have the coverage you need? When you are between jobs or have a gap in coverage, short term coverage can protect you. Without it, medical bills can pile up, time lost on the job can put you in serious financial jeopardy, and you could face long term strain on your financial health.  Here are some very important facts you should know about short term health insurance before making your decision to purchase insurance:

Fact #1. Short Term Health Insurance Can Cover Pre-Existing Conditions

Insurance regulations require your new insurance to cover existing health conditions as long as you have had no gap in your coverage. Short term health insurance coverage can protect you from losing coverage for existing conditions when you are between jobs or switching insurance companies. Be sure to obtain proof of coverage from your old insurer to prevent any problems. As long as you have been on insurance (including Medicare and Medicaid) for the previous 12 month period, the new coverage cannot exclude existing health conditions.

Fact #2. Short Term Health Insurance Can Cover You Immediately

Most policies can go into effect immediately, providing you with nearly instant coverage.  If you suddenly lose your job or your health insurance, a short term policy can bridge the gap until you obtain new coverage. The cost of this coverage is small compared to the peace of mind you'll have.

Fact #3. You Can Apply for Short Term Health Insurance Online

In most cases, you can apply for short term health insurance online or even obtain it from an insurance agent who handles your home and auto insurance.

Fact #4. Your Short Term Health Insurance Coverage Is Dependent on Your Needs

The type of short term coverage you choose will depend on your needs. If you are taking several prescription medicines or need regular care from your physician, you will want a broader policy than if you simply need to protect yourself in case of emergency.

Fact #5. Short Term Health Insurance Can Cover You for 6 Months

Most short term insurance policy periods are for a minimum of 30 days, but the premiums are reasonable enough that even if you need the coverage for less than 30 days, it is usually worth paying for a month of coverage to prevent any lapse in your insurance.  The maximum period is typically six months, so if you are going to need insurance for longer than that, you should look into other insurance choices.

Be sure to shop around to obtain the best price and the best coverage.  Make sure the doctor you see will accept the insurance and that there are no exclusions that would greatly affect you.  You can quickly and easily compare policies by shopping online.


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