Short Term Medical Insurance

A time may come when you find yourself without health care coverage or your need to bridge a health insurance coverage gap.

For example, you might need short term medical insurance when you’re in between jobs, right after you complete college or leave the military service.

On these occasions you might consider purchasing short term medical insurance. This insurance is designed just for those situations.

Below are the some of the characteristics of this type of health insurance.

Length of Term

Most of short term health insurance policies are non-renewable policies that are in force anywhere from one month to one year. They cover most injuries and illnesses.

Most policies have flexible pay as you go payment plans.

Eligibility

You’re eligible for these policies if you’re under the age of 65, not pregnant and not covered under any other medical insurance plan.

You can select the physicians and hospitals of your choice with a short term health care policy.

Coverage

Most short term policies cover the following:

• Semi-private hospital room charges
• Intensive care expenses
• Outpatient charges
• Inpatient psychiatric costs
• Miscellaneous hospital and physician services
• Visits to the doctor
• Surgical charges
• Prescriptions drugs and blood products
• Laboratory charges and radiology treatment

The payout starts after the deductible and other plan requirements are met. For example, for one plan with a $500 deductible, you would satisfy the deductible. Then you’d pay 20% of the next $5000 of covered expenses, After that, the short term policy pays 100% of the remainder of the costs up to the policy limit (usually one or two million).

What’s Not Covered?

Most short term policies do not cover pre-existing conditions. Well care such as routine physical exams, dental care, cosmetic surgery and outpatient psychiatric care and are also excluded from coverage.

Normal pregnancy, well child care and health care expenses incurred outside the U.S. are also not covered. Read the policy carefully to make sure you understand everything that is not covered.

Steve Wyrostek -MedicalInsurance.org Expert A 20 year plus veteran of the insurance industry, Steve managed departments in the personal and commercial lines areas of major insurers. He’s familiar with how insurance—ranging from boat to workers compensation—works.