What Is Short Term Health Insurance & Will I Need It?

What Is Short Term Health Insurance & Will I Need It?

In certain circumstances, short-term health insurance can provide you with temporary medical coverage.  Many aspects of these short-term health care policies vary significantly from those of conventional health insurance plans.  So, what is short term health insurance, and why do you need it?

Short term health insurance is a form of health care that will provide you with immediate medical benefits while you are switching health plans, are outside of eligibility dates, or require coverage in the event of an emergency.  To get the best out of a short term health care, though, you must first consider how it works, how much it costs, and what it covers.

The compensation provided by short term policies varies depending on the package and the provider from which you purchase it.  These programs are exempt from the requirements of the Affordable Care Act (ACA).  Under the Affordable Care Act, programs must have certain standards of coverage, known as minimum basic coverage.  Short term health insurance plans are not subject to the same regulations, and Plan IV has the experts on-hand to devise an individualized plan fit just for you.

Preventive services, hospital appointments, urgent care, and emergency care are usually covered by short term health insurance benefits.  Prescriptions may be covered as well.  Some contracts also include discounts for visiting in-network doctors.  Before purchasing any plan, make sure to read the "exclusions and restrictions" section.  This explains what a schedule covers and what it doesn't.

Ultimately, short term health options are generally only best for the short run and not designed for long term health care.  There are certain situations that require temporary health coverage, including:

  • You missed open enrollment for traditional health plans
  • Losing or leaving your job with a provided health plan
  • Turning 26 and transitioning off your parents’ health plan

So, is it a good idea for you to go on a short-term health plan?  Try to predict your future health needs as a first step.  Will the cost of care be cheaper if you have a short-term contract than if you didn't?  Plan IV is the right team you need to help examine all the options open to you.  The duration of time, types of benefits, and even costs of these policies will differ significantly between insurance providers that sell them.  Due to state laws, plans will differ in one state and the other, especially in Michigan.  Plan IV knows the ins-and-outs of short-term health insurance in Michigan, so contact us today!

Trust Plan IV for Information on Long- and Short-Term Health Insurance Plans

If you don't have health insurance or a benefits plan, our health insurance and benefits experts at Plan IV will take time to assess your needs to determine which healthcare plans are best for you.  Whether you need Medicare supplement plansthe best short term health insurancelong term care insurance planssupplemental health insurancedental and vision coveragepayroll or Prime Pay servicesHR outsourcing Michigan, and more, we can save you time and money and give you peace of mind.

Contact Plan IV to Find Affordable Healthcare for Michigan Residents

Call Plan IV for a priority health quote at (248) 689-4910.  If you have questions about our services, reach out to us through the contact form on our website!