Benefits of Short Term Health Insurance

Short term health insurance is a tool that is used to limit your risk of medical bills during an interim period. If you are between jobs, short term health coverage is a great thing to have until you get on your next group medical plan. If you are currently without health insurance, you run a large risk. If something were to happen to you, you run the risk of having to pay unbelievably high medical bills. In many cases, you may have to file for bankruptcy in order to be cleared from the fees. Short term health insurance is a way to combat this problem.

Fill in the Gaps

There are many people in transition, such as in between jobs, recently graduated or newly hired. Employer plans have a typical waiting period of 30 to 90 days before any employee is eligible for insurance coverage. This means that you need something to fill in the coverage gap. Short term coverage can be used for as short as a few days, or as long as three years. This makes it extremely flexible and a good source for many people.

Immediate Coverage

Another great thing about short term health insurance is that you are covered immediately. There is no waiting period or lapse in coverage. The day after you send in your paperwork, coverage begins. This is fantastic for those that were unexpectedly terminated from their jobs. Anytime you need coverage quickly, short term coverage fits the bill. Some people even get it while they are waiting to be eligible for their traditional health insurance policy.

Less Expensive

Short term health insurance is usually less expensive than a traditional plan. This is great because those that use it could usually use a break on something to help them until they find a job. Short term coverage realizes you will only be with them for a short time, so their pay out odds is very low. Chances are that you they will never have to pay out any money on your behalf. Therefore, their premiums are typically low and inexpensive. Also, they also do not cover expensive procedures or pregnancy which also cuts down on the large medical expenses as well.

Eliminates Large Bills

If you are between jobs, insurance coverage is probably not at the front of your mind. Most of your time is spent looking for another job. Medical emergency bills are typically significantly high and the average American cannot pay. Short term health insurance limits the large medical bills that come to you.  Many times, a period of change or transition is not longer than three years. For example, schooling, finding a new job or waiting for probationary periods are not longer than three years. Short term insurance covers you when you most need it and offers you peace of mind to continue moving forward with your schooling and career.

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