Short term health insurance is a medical insurance option ideal for people in transition. As the name implies, this policy is a temporary solution. Normally, short-term health insurance is purchased for a short period of time. This allows the policy to be dropped quickly.
Short term health insurance generally covers only catastrophic health problems (major health problems). People between jobs, recent college graduates, and part-time and temporary employees are among the most likely consumers of short-term health insurance. Short term health policies are normally sold to people under the age of 65.
A short term health insurance policy is generally included in the “indemnity” plan. This gives you the freedom to choose any doctor or specialist you wish. The policy covers surgery, hospital care, emergency services, diagnostic tests, prescription drugs, and follow-up office visits. Short term health insurance has several sub-limits and special conditions. Some offer limited mental health care in their short term health policies. Due to its low cost, the policy does not finance routine preventative care like physical exams, immunizations, and PAP tests.
The important point to remember when buying a short-term health plan is that this affordable plan?s coverage does not include any pre-existing conditions. This limitation is one of the reasons that the monthly costs are so low for this sort of insurance coverage. A pre-existing condition is a health condition or symptom that you had during the three years prior to the start of coverage.
In recent years, sales of short term health insurance plans have grown in popularity because of their low monthly cost, high coverage limits, and fast purchase process. Today, many insurance companies offer short term health policies throughout the U.S. This is the only type of coverage that possesses the shortest application in the health insurance business. Short term health insurance policies are available in both individual short term health insurance and group short term health insurance. Many insurance companies now offer credit card payment schemes. There are a lot of limitations and exclusions to short term health insurance policies. So before you buy a policy, take time to study those limitations thoroughly.
By: Kristy Annely
Posts Tagged ‘Pre Existing Conditions’
Short Term Health Insurance
March 5th, 2010Health Insurance For Diabetics
January 15th, 2010
While health insurance is important to everyone, it is especially important to someone with diabetes. Diabetes is a disease that must be carefully controlled. Plus, even with tight controls, there may be complications as time goes on.
Unfortunately, with the exception of only 5 states, health insurance is medically underwritten. This means that you must answer certain medical history questions and qualify for the health insurance plan. Diabetes, in most instances, will make you ineligible for a private health insurance plan.
There are still alternative plans and methods for a diabetic to secure health insurance. This article will give you an overview of how to obtain a health insurance plan with diabetes.
Group Health Insurance
If you work for an employer who offers group health insurance your problem is over. Group health insurance is guaranteed issue and you cannot be declined for any pre-existing condition. Furthermore, even if you never had health insurance before or let it lapse, pre-existing conditions will be covered in full after 12 months. If you have had continuous coverage, there is no waiting period.
But, what if you want a full major medical plan and do not have group health insurance available to you?
If you work in certain industries, you can purchase a guaranteed issue major medical plan with no medical questions.
Major Medical
Currently, those industries eligible for major medical include:
- Real Estate – agents, brokers, mortgage brokers, appraisers, clerical and administrative staff. Anyone in the real estate or mortgage industry can qualify.
- Construction – This is a fairly broad category. It encompasses anyone in any aspect of the construction industry.
- Information Technology (05/08) – another broad category that includes programmers, network engineers and technicians, web developers and designers, repair technicians. Again, anyone in the information technology industry or administrative personnel working for an information technology company.
Limited Benefit Health Insurance
A limited benefit plan is also guaranteed issue and available to any diabetic under the age of 65.
Limited benefit plans, sometimes referred to as “mini medical”, vary widely in terms of the benefits they offer.
We suggest that whenever possible the plan include the following:
Pay at least $1,000 a day for hospitalization (more would be better).
Have a surgical schedule that is not limited by any caps.
Pay for a limited number of office visits and diagnostic tests.
Be HIPAA-qualified (this means that it is credible coverage or real health insurance and not a discount plan with some extra benefits thrown on top). Use a national PPO network.
Critical Illness Coverage
Anyone between the ages of 18 and 64 can obtain a guaranteed issue critical illness plan.
This plan will pay you a lump sum of $25,000 upon diagnosis of certain life threatening illness. They include cancer, heart attack, stroke, kidney failure, etc.
In addition, this plan will pay $500 for each 24 hour stay in a hospital. It is an ideal plan to add to a limited benefit plan to increase the coverage or just use as a standalone plan. For an individual, the cost is $88 a month.
Where Can I Get More Information?
We recommend that you talk with an insurance agent who specializes in guaranteed issue plans. The best site we know of is www.guaranteed-health-insurance.com. You can reach them at 800-986-4786 9 AM to 9 PM EST.
A Word of Caution
Quite often, individuals who are having difficulty obtaining health insurance are taken advantage of. They are sold worthless discount plans or overpriced coverage that offers very little protection. Please use common sense when shopping for a plan and read everything carefully.
By: Martin Unger
