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Benefits of Short-Term Health Insurance Plans for Students

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short term health insurance plansWith the rise of medical costs, getting sick can be a huge expense. And the problem is if you are unemployed and are currently in school, you have no employer who will shoulder the cost of a medical insurance policy.

As a student, you are not immune to the same accidents, illnesses and injuries that professionals are exposed to everyday. And this creates a huge need for health insurance coverage. Most likely, you already have student loans. Getting sick only means you have to pay for medical bills. And these bills will take away the money that you should have spent on your education. Think about the benefits of short term health insurance plans for students.

Short-Term Health Insurance is Affordable

Short term health insurance is a straightforward deal. You are covered for a short period of time and you pay a premium. The first thing you do is to pick the amount of benefit you want to receive should you get sick. Most policies have a calendar year maximum – or maximum per cause.  You choose which type you prefer. If you are needing coverage for several months, then a lifetime maximum of 1-2 million might be a good idea.

Many short term health insurance policies can cost less than you might think for the entire policy’s tenure. Polices with higher deductibles can be under $100 a month! These same plans can also provide prescription drug coverage and doctor’s office copays without the insured reaching the deductible. It’s nice to have these first dollar benefits available right away.

It Is Immediately Effective

A lot of companies offer short term health insurance policies that take effect as soon as the payment is made. Apply today and your coverage is effective tomorrow.

Unlike Obamacare coverage, short term health plans do require medical underwriting. There are usually only a few questions to answer, but not everyone is approved. Other policies might offer coverage while excluding preexisting conditions. If you only need coverage for a few months, these Guaranteed Issue plans can provide peace of mind.

Additionally, many plans offer riders like dental and vision coverage.  Still others will provide cash reimbursements for an accident, illness or injury. It’s nice to know your plan will can pay you several thousand dollars up-front with an critical illness rider. These riders do cost extra, but can be worth it if run into something unexpected.

It Has Wide Coverage

Many hospitals and doctors accept short term plan insurance. This is even covered in cancer centers. As millennials continue to buy short term health insurance policies over long term ones, more and more facilities will cover those who purchased this type of insurance. Although maternity is not part of the deal, below are some important medical service that you can get if you purchase a policy.

Lab tests – this is costly. Most doctors require a lab test to be able to pinpoint and diagnose the disease properly. With short term insurance, you do not have to pay the costs of these tests.

Doctor visits and specialist visits – if you are indisposed and cannot get out of bed, doctors can come and visit you and the health insurance company will pay for that specialist’s service.

X-Rays – like lab tests, x-rays are costly. This should be covered in your health insurance plan.

These plan can cover you all over the United States using networks from Aetna, United Healthcare, Medical Mutual of Ohio, Cigna and others. If you travel a lot, then we can help you find the broadest network to meet your needs.

It Bridges the Gaps

Short term health insurance for students bridges temporary gaps in long-term insurance. Once you turn into an adult (age 26 in most states), your parents’ insurance provider will no longer recognize you as a dependent. You need to buy your own. But as a student without work, long term health insurance is costly. Besides, long term health insurance is typically shouldered by an employer.

A short term health insurance will bridge this gap. And this is most especially important if you are close to graduating. While finishing your degree, you can expect to get full coverage until such time that you find an employer, provided that you pay your premium on a regular basis. This is also a great alternative if you missed out enrolling for long term health insurance. You wait out for the next enrollment of the Affordable Care Act, knowing that you have temporary health insurance coverage.

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Category: Health Insurance