What is Short Term Health Insurance?
Short Term Health Insurance is a major medical insurance alternative to the Affordable Care Act (Obamacare). Whether you need coverage during a transition or gap between insurance or if you are looking for a solution outside of Obamacare, Short Term Health Insurance offers an affordable and flexible option. Different levels of benefits among plans means you choose the right coverage for you. This flexibility makes Short Term Health Insurance very affordable. Plans are typically half the cost of Obamacare plans.
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What is Health Benefit Insurance?
Health Benefit Insurance is accident and illness indemnity insurance that, unlike major medical, pays you a set amount of money to help pay costs incurred due to specific covered medical conditions or services with doctors and hospitals. Coverage is affordable and available at any time. It can be used to supplement major medical insurance like short-term health insurance or to provide specific coverage that a consumer wants for their specific needs.
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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 Insurance?
Health benefit insurance provides flexibility and access that most major medical insurance plans lack. Many people with major medical insurance plans have found health benefit insurance 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 health benefit insurance a good and affordable alternative. Health benefit insurance 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
These types of health benefit insurance are also referred to as indemnity insurance plans.