Among different kinds of health insurance plans, Short-term plans are least known plans which are taken by people but they may be like a little time benefits for insured.
A short-term health plan is a live savior for a short period of time but it depends on people that either it will be a much-needed alternative to the high prices of the general health Insurance marketplace or a waste plan acting as real health insurance. In a different way, the price of short-term health plans is about half as much as the cheapest plans sold in the Health Insurance companies make them an attractive option for people looking for low-cost health coverage. Though, the price comes with different limitations so shoppers need to understand everything before selecting a short-term plan. Here are some important questions that need to ask by insured before buying:
What do short-term plans cover? It is better to know the list of things that are covered under a short-term plan as it will help to choose a plan as per the need of an insured. Generally short-term plans provide coverage for doctor’s visits, emergency room visits, lab tests and other services but with limits. But they can either deny or limit coverage as per health history of an insured. Having a pre-existing condition like diabetes, it may affect the ability to buy coverage.
Do Insured qualify for Medicaid or Medicare? Insured can also be able to qualify for government-provided health care. Medicaid is generally a federal-and state-run program that covers many low-income people through eligibility check by state.
What health needs? Short-term plans are the best-suited for healthy people who have few health expenses and if insured need treatment for a chronic condition or expect to get pregnant, then insured can consider a more comprehensive option. But these plans don’t cover pre-existing conditions so buying it as coverage is not a good idea.
How much to pay? Generally short-term plans have lower premiums but some plans often comes without-of-pocket costs like deductibles, coinsurance and copayments. While making a budget on health costs, always take care of some additional costs into account.
What are the limits of plans? Besides coverage maximums, these plans come with lots of exclusions and limits. Policies should list these exclusions and insured need to note them down.
Where are short-term plans available? Short-term plans are not available in every state so it is better to search them online as per states.
How long do they last? As per the name, short-term plans can last up to a year and the same plan can be renewed up to three years as per state law.