The news has been flooded these last few weeks with reports of some people using short term health insurance for up to three years and essentially abusing the purpose of the policy. Is this a good way to go? Why do companies let people do this? These and more questions are answered below.
First off you’ve got to realise that anything that is called a short term health insurance was never designed to be used as a long term solution. These policies do not offer support for those suffering from long-term degenerative illnesses or for diseases requiring preventative treatment. Plus their maximum benefits are lower than even those offered in catastrophic insurance policies.
So why do companies let people use them for years at a time? Well there are a decent amount of people out there who know they will be unemployed or unable to afford full health care for a few years and a short term health insurance is a great way to cover themselves in the mean time. Certainly some people will abuse this feature of the short term health insurance policies but I don’t think that’s a reason to stop those who really need such a policy from using it. Not least because these policies give great short term care. They start straight away and have really great monthly premiums, mainly due to a massive number of companies all clawing for the same customers. Moreover, short term health insurance lets you keep seeing the same doctors and offers you indemnity for both visits to the doctor or to the hospital.
Read the rest of this entry »
Short term health insurance seems like a great deal, you get a great maximum benefit almost instantly on a policy that can run up to 3 years. But, with ever increasing reports of companies forcing perople to buy new policies after heavily using their first short term health insurance are the risks too great. This blogger takes a look at it.
The benefits of short term health insurance are well known, it offers low cost and flexible health coverage for a wide variety of people. If you are heading to college, changing jobs or temporarily unemployed. On top of that companies highlight the fact you can often keep your own doctor and have indemnity for doctor’s visits and hospital care.
However, what these companies often don’t tell you is the strict limits they place on all parts of the policy. First off, there is no coverage for illnesses that the policy holder currently suffers from, nor the preventative treatment they may require. Plus short term health insurance doesn’t accept those people who have been rejected in the past for health care. And if you’re over 65 you better forget applying.
That indemnity you were promised, well for somethings, including emergencies you’ll need to be approved by the insurance company before they’ll let you to be saved. Oh and then if you use your policy for something that starts eating into that benefit then you might have to buy another policy if you want your cover to continue.
Read the rest of this entry »
Short term health insurance is becoming increasingly popular as a solution for people who find themselves between health care policies. Be it due to being between a job, or moving between schools or simply being too old to be covered by a parent’s health care, more than 10 million Americans will be applying for short term health insurance this year alone.
Sound like it’s for you? But what does short term health insurance give you? Well short term health insurance gives you immediate cover for most of your typical medical needs. What’s more is that you can even keep going to your normal doctors! However, short term health insurance often doesn’t cover pre-existing conditions or things such as pregnancies or post-natal care. Moreover, preventative care treatment is not covered by short term health insurance,
On top of that if you have ever been turned down for a health insurance policy before then it is unlikely that you’d be accepted for a short term health insurance policy. Another condition that is often seen in such policies is that you must be under 65 to take out a short term health insurance policy.
That said, the policies are very flexible meaning that if you are a healthy person who doesn’t need what the short term health insurance can’t give you then such a policy is a great solution if you find yourself between more permanent policies. Some short term health insurance starts from just 1 month and can run up to 3 years if you need it to. Benefits can be as high as $2 million for the life of the policy which giees great peace of mind even if something serious happens. And finally, with so much competition in the market places, prices are lower than they ever have been.
