Agile Health Insurance
What is Short Term Health Insurance? - Agile Health Insurance
Are short term health insurance plans junk?
Don't believe the hype.
Short Term Health Insurance provides coverage in case of accidents and llness for a defined period of time, often with a much lower monthly premium than other forms of major medical health insurance. There are two advantages of Short Term Health Insurance.
First, you can use your Short Term Health Insurance plan to pay for services from any doctor or hospital (any willing provider). Yes, you can keep your doctor!
Second, Short Term Health Insurance plans have no Open Enrollment restrictions, so you can apply for one any time of the year. You will be notified within minutes if your application is approved, and you can use your coverage as early as the next day.
Short Term Health insurance fills in the gaps. Whether you’ve recently lost a job and are awaiting insurance from the next, want to see the practitioner of your choice, are going through a transition and need coverage for a set period of time, or you’ve fallen into the affordability gap Short Term Health insurance is a flexible, affordable solution. For example, a 29 year old woman making $43,000 per year in South Florida would pay approximately $3,000 per year for a bronze-level ACA plan– also referred to as “obamacare”. For less than $2,000 per year she can purchase a 12-month Short Term Health Insurance plan with a smaller deductible ($5,000 v. $7,900) and save over $1,000 per year.
If you don’t enroll for ACA health insurance during the Open Enrollment Period–which usually runs from early November to mid December each year– you won’t be able to purchase one unless you qualify for a Special Enrollment Period. Certain life events such as losing health coverage, getting married or moving will qualify you for a Special Enrollment Period.
In contrast, you can enroll in a Short Term Health Insurance plan at any time during the year and receive coverage as soon as the next day.
Who Should Consider Short Term Health Insurance?
This question is better answered by addressing who should not consider Short Term Health Insurance. Short Term plans aren’t for everyone. People with certain chronic conditions, poor health, or complex medical needs are often better served by an ACA or large employer-sponsored health plan plan, both of which offer benefits for numerous conditions including mental health and maternity needs. Additionally, people who have had a significant health event or medical condition in the past five years may have a hard time finding a Short Term Health Insurance plan that will accept them or provide coverage for their pre-existing condition. Even if you don’t need the breadth of coverage an Obamacare plan offers, if the idea of 10 essential minimum benefits is reassuring, then an ACA plan is likely a better fit for you.
How Is Short Term Health Insurance Different From Obamacare?
Affordable Care Act plans have broader benefits than those found in Short Term Health Insurance plans and, without the premium subsidies available to some qualified purchasers, they cost much more than Short Term Health Insurance plans.
As mentioned before, all ACA health plans must have the 10 essential health benefits. Short Term Health Insurance plans, in comparison, do not have a standardized set of benefits. Short Term Health Insurance plans usually offer what would be described as streamlined major medical coverage that covers healthcare costs in the event of accidents and illnesses. Most Short Term Health Insurance plans also cover doctor visits for routine illnesses and injuries.
The chart below details some of the major benefit differences between Short Term Health Insurance and Affordable Care Act plans. It is important to note that Affordable Care Act plans do not deny care for pre-existing conditions nor do they reject applicants based on health problems. In addition, states’ rules regarding Short Term Health Insurance are changing so while our chart is a general breakdown, always read your plan brochure before selecting your plan.
Does that sound good? We offer affordable health coverage options with flexible deductibles to fit your budget. Learn more about short term health insurance at www.agilehealthinsurance.com/
Subscribe to our channel to learn more about consumer-focused developments in health insurance.
See articles where health insurance is explained and where we break down how new regulation impacts health insurance options at:
www.agilehealthinsurance.com/health-insurance-learning-ce...
Follow us on social:
What is Short Term Health Insurance? - Agile Health Insurance
Are short term health insurance plans junk?
Don't believe the hype.
Short Term Health Insurance provides coverage in case of accidents and llness for a defined period of time, often with a much lower monthly premium than other forms of major medical health insurance. There are two advantages of Short Term Health Insurance.
First, you can use your Short Term Health Insurance plan to pay for services from any doctor or hospital (any willing provider). Yes, you can keep your doctor!
Second, Short Term Health Insurance plans have no Open Enrollment restrictions, so you can apply for one any time of the year. You will be notified within minutes if your application is approved, and you can use your coverage as early as the next day.
Short Term Health insurance fills in the gaps. Whether you’ve recently lost a job and are awaiting insurance from the next, want to see the practitioner of your choice, are going through a transition and need coverage for a set period of time, or you’ve fallen into the affordability gap Short Term Health insurance is a flexible, affordable solution. For example, a 29 year old woman making $43,000 per year in South Florida would pay approximately $3,000 per year for a bronze-level ACA plan– also referred to as “obamacare”. For less than $2,000 per year she can purchase a 12-month Short Term Health Insurance plan with a smaller deductible ($5,000 v. $7,900) and save over $1,000 per year.
If you don’t enroll for ACA health insurance during the Open Enrollment Period–which usually runs from early November to mid December each year– you won’t be able to purchase one unless you qualify for a Special Enrollment Period. Certain life events such as losing health coverage, getting married or moving will qualify you for a Special Enrollment Period.
In contrast, you can enroll in a Short Term Health Insurance plan at any time during the year and receive coverage as soon as the next day.
Who Should Consider Short Term Health Insurance?
This question is better answered by addressing who should not consider Short Term Health Insurance. Short Term plans aren’t for everyone. People with certain chronic conditions, poor health, or complex medical needs are often better served by an ACA or large employer-sponsored health plan plan, both of which offer benefits for numerous conditions including mental health and maternity needs. Additionally, people who have had a significant health event or medical condition in the past five years may have a hard time finding a Short Term Health Insurance plan that will accept them or provide coverage for their pre-existing condition. Even if you don’t need the breadth of coverage an Obamacare plan offers, if the idea of 10 essential minimum benefits is reassuring, then an ACA plan is likely a better fit for you.
How Is Short Term Health Insurance Different From Obamacare?
Affordable Care Act plans have broader benefits than those found in Short Term Health Insurance plans and, without the premium subsidies available to some qualified purchasers, they cost much more than Short Term Health Insurance plans.
As mentioned before, all ACA health plans must have the 10 essential health benefits. Short Term Health Insurance plans, in comparison, do not have a standardized set of benefits. Short Term Health Insurance plans usually offer what would be described as streamlined major medical coverage that covers healthcare costs in the event of accidents and illnesses. Most Short Term Health Insurance plans also cover doctor visits for routine illnesses and injuries.
The chart below details some of the major benefit differences between Short Term Health Insurance and Affordable Care Act plans. It is important to note that Affordable Care Act plans do not deny care for pre-existing conditions nor do they reject applicants based on health problems. In addition, states’ rules regarding Short Term Health Insurance are changing so while our chart is a general breakdown, always read your plan brochure before selecting your plan.
Does that sound good? We offer affordable health coverage options with flexible deductibles to fit your budget. Learn more about short term health insurance at www.agilehealthinsurance.com/
Subscribe to our channel to learn more about consumer-focused developments in health insurance.
See articles where health insurance is explained and where we break down how new regulation impacts health insurance options at:
www.agilehealthinsurance.com/health-insurance-learning-ce...
Follow us on social: