Looking to see whether short-term health insurance coverage is right for you?
Sure, there are plenty of benefits that come with short-term policies, but it’s crucial you take the time to determine whether this is actually the right coverage for you. And one of the most important of these factors is whether or not you’re eligible at all.
Interestingly, the eligibility criteria for short-term health insurance are quite different from those of traditional health insurance, so you’ve come to the right place when it comes to getting up to date with what you need to know.
Let’s get right into it.
Who is eligible for Short Term Health Insurance: Common Age Restrictions
As far as the question of who is eligible for short-term health insurance is concerned, age plays the most important role: Most short-term health insurance coverage policies have age restrictions, the most common of which states that applicants should be under the age of 65.
This is a common stipulation across most providers, largely due to the higher health risks typically associated with older ages.
Short Term Health Insurance Doesn’t Cover Pre-Existing Conditions
Another common restriction on most short-term health insurance policies is that they don’t cover pre-existing conditions.
Thus, those with pre-existing medical conditions might not be ideal candidates for these plans. Insurance companies assess applicants’ health status, and coverage may be declined based on this assessment.
Individual Life Situations
There are certain life situations that make an individual more suitable for short-term health insurance.
Those who missed the Open Enrollment Period for the Affordable Care Act (ACA) plans, individuals waiting for employer benefits to start, those between jobs, or recent college graduates are all prime candidates for short-term health insurance.
It’s also an option for individuals who can’t afford ACA plans or those residing in a state where their preferred ACA plan is not available.
It’s also essential to consider that these plans aren’t meant to be a long-term health insurance solution.
They’re temporary by design, meant to cover gaps in coverage rather than serve as primary insurance. It’s not uncommon for these plans to have coverage durations anywhere from one month to just under a year, with some states and insurance companies offering the possibility of renewals.
However, while short-term health insurance plans can be an excellent fit for many, they’re not for everyone. Remember, these plans do not meet the minimum essential coverage requirements under the ACA.
They’re not required to cover essential health benefits like preventative care, maternity care, mental health services, or prescription drugs.
So, if these are services or benefits you think you’ll need, a short-term plan might not be the best fit for you.
Certain states have restrictions or even prohibitions on short-term health insurance. Therefore, residents in these states may not be eligible for this type of insurance. Before applying, make sure to check the regulations in your state regarding short-term health insurance.
As you can see, such a short-term solution can be an excellent option for those meeting specific criteria. Plus, now you know more about who is eligible for short-term health insurance!
Although these plans provide temporary coverage, they’re not suitable for everyone. Understanding your health needs, assessing your eligibility, and considering your state’s regulations is crucial before choosing a plan.
Struggling to make the right decision?
Here at My Healthcare Direct, our experienced experts and agents are always on hand to help guide you to the plan that perfectly suits your needs. Contact us today, and let’s get your healthcare plan sorted!