All About Temporary and Short-Term Health Insurance
Why would you ever want temporary health insurance? Aren't you planning to keep your health for a long time? Of course you are. Still, there are a number of reasons why you may find yourself in the market for temporary or short-term health insurance. Between Health Plans You may have graduated from college and your parent's policy no longer covers you, but you do not yet have a job that will provide insurance. Or you may have left your job and now need health insurance coverage until you find a new one. Maybe you have started a new job and have a waiting period of several months before you're eligible for coverage under their plan. Whatever the reason, going without health insurance coverage, even for a few months, can be a costly gamble. If you find yourself "between health plans," then temporary health insurance coverage may be the key to your dilemma. Temporary Health Insurance Defined Temporary health coverage offers you continued insurance under a health plan. As the name implies, this coverage is for a limited amount of time, usually 1 to 6 months, although there are plans that will cover longer periods of time. If you find you will need to be covered for more time than you originally thought, some temporary policies can be extended past their expiration date, but it may be more cost-effective to get long-term health insurance instead. What Kind Of Coverage Can I Get? Temporary health insurance plans cover most of the same medical needs that permanent policies do, but there are a few very important differences. For 1, these plans are usually strictly indemnity plans. That means preventive treatments like check-ups, as well as dental and optical work are generally not covered. Pre-existing medical conditions and work-related injuries or illnesses are also not covered. Your temporary health insurance policy will generally cover any emergency medical care you may need, prescription drugs, hospital and intensive care needs, lab and x-rays, ambulance care, and even some in-home medical care. How Can I Get It? First you'll need to find an agent who specializes in temporary health insurance -- check the telephone directory. Decide in advance how many days or months you'll need the coverage and when you want it to start. Pay attention to the "exclusion" clauses in the policy and ask questions about any concerns you may have. Review the application and make sure all your personal information is correct before you sign anything. Also, remember to get copies of all paperwork for your files. Cost-Control Tips The cost of the temporary health insurance plan will depend on the type of coverage you select. To keep the cost down, you can choose to have a higher deductible with 50/50 co-insurance, rather than the more common 80/20 ratio. There are some extras you may want to consider, though. With the high cost of prescription medicines, you may be better off buying that coverage than leaving it off. The important thing is to read through the policy carefully, and make sure the coverage you're buying is the coverage you want. |