We offer two types of plans and the one best for you might depend on your overall health. Most of our clients can be medically underwritten for a short term health insurance plan. This means they do not have any of the conditions on the application which would prevent them from qualifying for coverage.
While current ACA doesn’t rules don’t allow for medical underwriting of traditional health plans, short term medical insurance is, for the most part, still medically underwritten. This means you can be turned down for coverage if you have certain health conditions. However, we do have Guaranteed Issue plans that will rider-out preexisting conditions and then cover most future, unknown claims.
For those who might have ongoing health concerns, a guaranteed issue plan can help to bridge gaps between major medical plans. These types might be appropriate for someone who will soon have group coverage, ACA Marketplace eligibility, or for those who might be a month or two away from Medicare insurance eligibility. Fortunately, there isn’t significant medical underwriting with most short term health policies.
Guaranteed issue short term health insurance may be a last resort for some with ongoing health issues. They are most suitable for covering short periods of time like a few months.
In some cases, we add riders to these policies that will pay first-dollar coverage for accidents, illnesses, hospitalizations, and other unforeseen events. By combining plans, you have the peace of mind knowing you are well covered until the opportunity rises to buy permanent health insurance.
Depending on where you live, you’ll find a few to several short term health insurance options. Plans can be purchased to cover a matter of days, or sometimes up to three years.
Some companies allow you to buy yearly plans for more than one term without the need for additional underwriting. This strategy can provide you with coverage for years without the need to prove insurability later.
If you reside in a state that only allows for a maximum of 6 months, then a new plan will have to be purchased (and qualified for) after the first term ends. In fact, many states have different rules for short term plans, so be sure to ask about ones that could apply to you or your family.
Understanding Exclusions & Medical Underwriting
It’s important to note that no short term health plans sold today meet the standard of Minimum Essential Coverage. This means they do not have to cover everything an ACA plan might. Common exclusions include preexisting conditions, expensive prescriptions, maternity coverage, mental health visits, and preventive care.
Depending on the insurance company, certain occupations and hobbies may not be covered as well. Common exclusions include, but are not limited to, injuries resulting from racing, motorcycling, hang-gliding, parachute jumping, skiing, scuba diving, and horseback riding. Professional, semi-professional and/or intercollegiate sports injuries may not be covered as well. It’s important to read the fine print before enrolling in a plan.