Short Term Medical

In between insurance policies? Short Term Medical insurance may be a great solution for the interim.

Short term medical (STM) is a type of health insurance plan

that can protect you if you are out of a job, in between jobs, out of open enrollment (ACA), or have lapse of coverage.  This can be done all online in a matter of minutes. 

Ever since the government took over a majority of healthcare, short term medical has been popular. Is it for everybody? The short answer is no. 

Typically STM is more attractive for someone who is healthy, who doesn’t need to go to a doctor often, and who doesn’t have medications. 

People look to get short term medical insurance for many reasons, but one major reason is the ACA (Affordable Care Act, or “Obama Care”) raised premiums tremendously and healthy people were going to be paying substantial premiums for insurance. STM is an alternative to ACA with much lower premiums. 

So what are the disadvantages?

These types of plans often run for 364 days (check your state’s plan details). When that time has expired your coverage will end. You can re-enroll each year, but here’s the sticker: If you were to come down with a health condition and had to reenroll at your plans year end you may not be able to qualify. 

We always say it is best to try and enroll in a STM plan during open enrollment of the ACA. That way when your plan ends and you may have come down with a health condition you are able to enroll in the ACA.

In Short You May:

Advantages
• Low cost health insurance.
• Approval as early as tomorrow.
• 30 – 90 days of coverage (depending on your state, some states offer a maximum benefit period of 180 days)
• Help bridge gaps in times of transition
• Helps in you missed open enrollment in the ACA

Disadvantages
• Doesn’t cover pre-existing conditions.
• Doesn’t count as minimum essential coverage (i.e. you still owe the fee for not having insurance)
• Doesn’t provide essential health benefits of the ACA.
• Primarily acts as catastrophic coverage.
• Limited selection of doctors

In short, applying for short term medical is a more affordable option than the ACA if you don’t have health concerns and want coverage for catastrophic coverage.

Available Products:

 

PivotHealth

Short Term Quote Link

  • Up to $1 million coverage period maximum

  • 90 Day coverage period with up to four back-to-back certificates
  • On select plans office visit copay available
  • Choose from eight deductible amounts
  • You select your hospital and doctor
  • Eligibility up to age 64
  • Child-only coverage available
IHC Short Term Medical Plans

Connect – STM or Plus

  • Up to $2 million coverage period maximum
  • Office visit copay
  • Choose from three deductible amounts
  • You select your hospital and doctor
  • Eligibility up to age 64
  • Child-only coverage available.
  • CLICK HERE FOR QUOTE