What is Short-Term Health Insurance?
Short-Term Health plans offer temporary coverage with limited benefits. They are not Affordable Care Act-compliant, don't cover pre-existing conditions, and most are not guaranteed issue, which means that the insurance company can ask you health questions and can reject you for a health condition. (Select carriers in some states offer Short-Term Health plans that are guaranteed issue, but these plans do exclude pre-existing conditions.)
These types of plans DON'T exempt you from the tax penalty for not having "minimum essential coverage" under the law. (The tax penalty will be eliminated 1/1/2019.)
Note: regulations changing how long short-term healthcare plans can be offered were published on August 1, 2018. As of October 2, 2018 these plans will permitted to be issued for up to 364 days (depending on state insurance commission approval), and they will be able to be renewed for up to 3 years.
State insurance commissions must review and approve new short-term plans that are proposed by carriers in accordance with these regulations (states are permitted to lower maximum length of coverage allowed for these plans and also require other changes). Some states, e.g. California, have limited these plans to three month durations. Rules and length of coverage will vary by each state.
Call us at 877-734-3884 for details.We are aware of only one national carrier that permits selling Short-Term Health plans on a child-only basis; with other carriers children must be included in an adult's policy and qualify medically in order to be eligible for enroll in a Short-Term Health policy.
Short-Term Plans Can Help in These Situations
- Affordable Care Act:: If you're outside of Open Enrollment, don't have a "qualifying life event," and can't qualify to enroll in an Affordable Care Act plan, Short-Term Health plans can bridge the gap until you can apply during the next Open Enrollment Period.
- Change of Employment: Laid off? Job loss? Get covered in-between jobs until you can be covered again by employer group coverage.
- Before Medicare: Waiting for coverage? A Short-Term Health plan can protect you in the meantime.
- Proof of Coverage: Need proof of insurance for some reason? Many colleges, for example, require proof of insurance before they will let you take classes. A Short-Term Health plan can be quick and affordable. [Note that many colleges offer Student Health Insurance, and these types of plans are alternatives to short-term health plans. Many of these policies are considered as providing minimum essential coverage under the Affordable Care Act.)
What Short-Term Health Plans Offer
- Affordable Premiums: Compared to other alternatives, Short-Term Healthinsurance can have low, affordable rates.
- Peace of Mind: Get protected from an unexpected illness or injury.
- Quick Approval: Coverage can start as soon as the day after making application and most applications can be done on-line.
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