Life happens. And when it does, you and your family may be temporarily without health insurance. Changing jobs, for instance, can leave you uninsured until you start working again. Waiting for coverage to take effect with a new employer or finding that you are between enrollment periods can also leave you vulnerable to expensive medical costs. However, you can reduce any potential risk with medical coverage through a short-term insurance plan.
Short-term medical plans offer coverage from 30 to 180 days, letting you choose just the right amount of coverage for your situation. And many states allow up to 364 days of coverage. You also get to choose between several deductible and copay options, which can help reduce your premiums.
Short-term plans normally have lower premiums than major medical coverage, and because you can tailor the plan to fit your needs, you’ll never be paying for more coverage than you need.
A short-term insurance plan can be a solution for anyone who is temporarily uninsured, but these policies exclude pre-existing conditions. In addition, temporary health insurance is not considered minimum essential coverage under the Affordable Care Act; so you may be subject to the Shared Responsibility Payment (tax), even when covered by a temporary plan.