There are several reasons you might need short term health insurance coverage in Ohio. Most often, it’s simply to fill in a small gap before permanent coverage begins a few months later. Other times, it’s used as a less expensive alternative to ACA plans. Either way, we can help.
Depending on your needs, short term plans can be purchased for several months. In fact some companies are now offering plans that will last for two to three years. This means you only need to pass medical underwriting once and then your plan will be effective for that entire duration. It’s wise to have a short term plan end on the calendar year in case you’d like to use the Open Enrollment window to purchase an ACA policy.
It’s important to know that losing short term health insurance is not considered a qualifying life event here in Ohio. If your health changed and your policy ended in June, then you may not be able to renew it. And you would have to wait until the fall for Open Enrollment to purchase an Affordable Care Act plan. If you are outside of the Open Enrollment window, you will need proof of a QLE in order to purchase permanent coverage. Moving from one state to another is considered a QLE, but your coverage may not start right away. A short term plan can fill in any gaps you may encounter.
Why a short term policy? First off, they are usually much less expensive than most ACA plans. And secondly, these plan are very comprehensive. Many offer preventive care, doctor’s office copays, and prescriptions coverage. Policies can be found with annual maximums of one to two million dollars. They are great for those who are in good health and want to keep their rate down.
Who doesn’t short term insurance work for? This coverage won’t work for those with health issues or significant preexisting conditions. They are medically underwritten which means you can be turned down. They don’t cover maternity coverage and some other items that ACA plans will. You’ll want to discuss your situation with us before purchasing this coverage. And if you qualify for a large tax credit, then an ACA plan can be your cheapest option.