Benefits of Short Term Health Insurance

Health insurance has gotten expensive. But it isn't worth remaining uninsured. 

In response to the rising costs of health insurance premiums this year, many individuals have turned to short term health insurance. 

What is Short Term Health Insurance?

It’s a convenient alternative to qualified health plans—with lower monthly premiums and next day enrollment, short term will bridge your gap in coverage so you don’t have to be uninsured until the next Open Enrollment Period. It works nicely for people who are consistently in good health because it functions like a catastrophic plan. Meaning it will cover you in the event something unexpected happens but not is not meant for everyday check ups, tests and procedures. Short term health insurance plans such as UnitedHealthOne have little network restrictions on doctors and hospitals  and no waiting period from the time you complete an application to having coverage in place. 

Why get Short Term Coverage?

1. On average, short term health insurance is less than half the price of major medical. A family of 6 can elect short term for as little as $400 dollars a month. 
2. UnitedHealthOne, the brand of individual insurance products for UnitedHealthcare, offers access to its Choice PPO network—otherwise unavailable in the individual health insurance market.
3. There is no waiting period, you can fill out a form today and have a policy in your name by tomorrow. An online application takes less than ten minutes to complete. It’s flexible—apply for an effective date of your choice and customize your coverage to suit your situation with deductible amounts ranging from $1,000 to $10,000.
4. You can elect coverage up to 364 days in length. 

FIND SHORT-TERM HEALTH PLANS

Who is Short-Term Insurance for?

There may be many reasons why you choose short term coverage. Maybe you missed the deadline of the Individual Open Enrollment Period and don't have a Qualifying Life Event (QLE). Maybe it’s a matter of affordability—this year rates increased immensely. Or you're a healthy individual who would like to pay out of pocket for your healthcare needs (and refuse to pay those high monthly premiums).

Whatever the reason.
Short term it is meant to cover individuals in times of transition—

• Uninsured and don't have a qualifying life event
• Waiting for Medicaid approval from the marketplace
• Find ACA plans to be unaffordable
• Looking for a low-cost alternative to COBRA
• Seeking a catastrophic insurance option
• Ineligible for major medical coverage
• In-between jobs
• Waiting for group benefits to kick in
• Not quite eligible for Medicare (almost 65)
• Kicked off parent’s policy (recently turned 26)

We are currently in Special Enrollment Period (SEP). This means you can’t enroll into a health insurance plan until the next government-regulated Open Enrollment Period (OEP). This year’s OEP ran from November 1, 2017 – December 15, 2017.  

There’s an exception during SEP for individuals with a Qualifying Life Event (QLE):

• Marriage
• Divorce
• Birth of a Child
• Legal Separation
• Moving to a Different State
• Involuntary Loss of Coverage

You must enroll or make a change to your current plan within 60 days of your QLE. This time of year—short term health insurance is the best option for individuals who don’t have a QLE.

Short-Term Insurance Carrier Comparison:

UnitedHealthOne

• Easy online enrollment
• Access to United HealthCare's Choice PPO Network
• Co-pays available
• Prescription coverage
• Offering short term insurance for 30 years

National General

• Fastest turnaround time
• Next day coverage available
• Access to national Aetna Open Choice PPO Network
• Citizenship not required 

Keep in mind most short term policies are medically underwritten so unlike qualified health plans you can be denied coverage if you have a pre-existing condition.

For example: If you are asthmatic and you are hospitalized for an asthma attack. This policy will not cover your claim.

Short term health plans have significantly lower premiums because they do not cover essential health benefits like mental healthcare, pregnancy and preventative care. 

SHOP SHORT-TERM HEALTH PLANS TODAY

Questions? Speak with a licensed agent today for more information on short term. 855.563.6993.