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What are the advantages of Short Term Health Insurance?
Short-term health insurance (a.k.a. short-term medical insurance or temporary health or medical insurance) helps fill the many gaps that people experience in health insurance coverage (it is also referred to as gap health insurance). Some of the more common gaps are:
- Time gap between ending an employer group health plan and starting another employer group health plan.
- Affordability gap where other major medical options are unaffordable.
- Medicaid gap where a person’s income is too high for Medicaid eligibility but below the minimum threshold for an ACA subsidy.
- Rural network gap where the local ACA plan’s narrow network excludes rural providers.
What are the advantages of Health Benefit Indemnity insurance?
Health Benefit Indemnity insurance (HBI) pays the benefit directly to the policy holder so policy can manage expenses arising out of a covered medical event. Many people with major medical insurance plans have found HBI can be used as supplemental insurance to help pay deductibles and other cost shares. Other people who cannot afford ACA approved insurance plans or cannot qualify for short-term health insurance have found HBI a good and affordable alternative. HBI allows the person to decide what coverages they need so they don’t have to pay for coverages they will never use. Some of the coverages a person can chose from are:
- Accident medical insurance
- Critical illness insurance
- Doctor insurance
- Hospital insurance