Short term insurance is meant to cover one for injuries and diseases for up to twelve months. A lot of people today are going for this coverage plan because of all its benefits.
Short term insurance is good for you if you are self-employed, if you are a student no longer covered by your parents’ insurance plan, if you have recently lost your job and thus healthcare insurance, if you are a seasonal worker or if you are looking for an affordable health insurance solution. Ensure that you speak to a professional before you take out any short-term health insurance cover because each of them is different and you may end up with one that may not help you should you need it. A short term plan is important because it will buy you the time you need until you are able to afford a long-term insurance cover. Discussed in this article are a number of reasons why short-term health insurance could be good for you.
Firstly, short term health insurance is flexible. You do not have to worry about missing the enrollment period with short term health insurance because you can enroll at any time and qualify. You therefore don’t have to worry about getting quality healthcare if you forget to get a long-term cover when enrollment is open.
The premiums you pay for short term health insurance covers are also lower than those you will have to pay for long term covers. This is particularly beneficial if you do not have consistent income coming in but would still like to have health insurance. Research has shown that the premiums on long term insurance covers rise every year, which is not the case for short term health insurance covers.
Another benefit of going for a short-term health insurance plan is that you do not have to be committed to your plan until the agreed upon period comes to an end. You may find a better plan and want to discontinue with your current one and this is only possible with a short-term health insurance plan. One has to pay a financial penalty for discontinuing long term health insurance covers. Keep your short-term health insurance plan in place until your new cover is ready to start paying any of your medical bills.
Fourthly, you are not restricted to any particular area with a short-term health insurance plan. It therefore means that you will remain covered even when you move to a new area. Since this may differ from one insurance company to another, it would be wise to seek clarification before you decide to get the cover. Since nobody can really tell the future, it would be advisable to be ready for anything with a health insurance plan.