Short Term Health Coverage or Term Health Insurance aims to bridge gaps in your health care coverage during the times of transition. It’s an inexpensive option for those who have missed Open Enrolment or exempted from the fee due to income. If your plan doesn’t count as Minimum Essential Coverage, then look for short term health insurance coverage option.
Affordable Care Act (ACA) has led to higher consumer satisfaction and lower uninsured rates. Carriers are entering the sector and adjusting to new value propositions that favor cost and quality. Thanks to ACA, currently, twenty million people have health insurance and the percentage of uninsured Americans is at all-time low. It could be arguably stated that post 2010 period has been the most successful as far as U.S.A.’s healthy policy is concerned.
Cracking the nuts
Short term health insurance coverage vary significantly from comprehensive coverage that typically includes preventive care, immunizations, physicals and sometimes vision or dental care. They do not cover pre-existing conditions and you could be denied payment if you didn’t disclose your pre-existing medical condition at the time of application. These aren’t guarantee issues; so you can be denied coverage for non-health reasons.
Since these plans lack many other protections of Affordable Care Act (ACA), also known as Obamacare, they are not counted as Minimum Essential Requirement.
Short term might be just right for you if you’re:
Waiting for your Affordable Care Act (ACA) coverage to start
Between jobs or waiting for benefits to begin at your new job
A recent college graduate or school pass out
Couldn’t apply for ACA
Turning 26 and rolling off your parent’s insurance
Looking for coverage to bridge you to Medicare
Without health insurance, have missed Open Enrolment and don’t qualify for Special Enrolment
Traveling outside of your network area
Losing coverage following a divorce
On strike, laid-off, or a terminating employee
Under 65 and in good health
Short term plans vary in what they cover as they do not have coverage requirements. So, compare and check your Short Term Insurance Coverage Louisiana details carefully at the carrier’s official website. Though these plans may lack some of ACA’s protections, but they work the way health plans did before ACA became the law.
A short list of pluses
Pick your length of coverage, from 30 days to 12 months
Access an extensive network of carriers in the US
Get covered fast, as soon as the day after filing application
Helps bridge gaps in times of transition
Low cost health insurance
Pick your deductible amount from multiple options
Comparatively lower premiums than ACA health insurance plans
What it doesn’t cover
Pre-existing medical conditions, preventative care and prescription drugs
Who shouldn’t consider short term plan?
People who have pre-existing health conditions and those who are on prescription drugs. They won’t cover mental health, your routine office visits, maternity and preventative care.
Scenarios ideal for short term coverage
Suppose you had coverage all year round but lost it in November. Short term health insurance coverage Louisiana would be a smart choice in such a situation until your new annual coverage plan starts January 1st. Short term is also a good option in case you are traveling out of your state and your plan covers only the local region of your residence. You may also consider short term insurance if you simply do not have any other coverage.
Federal tax penalty vs. short term plans
These plans are designed to provide temporary healthcare insurance during unexpected coverage gaps. They do not meet the essential coverage requirements under ACA, and may attract tax penalty.
A basic explanation
There is one major concern with health insurance coverage offered by your employer – What if you are not working with them for some reason? Or you are in between jobs and have no health insurance in place. Such scenarios put you to an increased risk of high health bills.
In the current unsettled economy, lean employment opportunities and risky investment atmosphere, people look reap maximum benefits for every dollar spent. Americans are scrutinizing their spending to trim the fat and in some situations, stop the bleeding. Yet financial products like short term insurance coverage are an everyday necessity, and a vital piece of this spending and investment mesh.
Be a responsible consumer
Choosing a perfect health plan could be quite confusing and frustrating to some consumers. New policyholders often do not understand intricacies of the coverage details of the policy they purchased. There have been instances when a consumer purchased a plan that wasn’t best fit for their needs. Carriers and clients must identify their health insurance needs. It is from this profiling process that one could identify the best plan. So, research and compare at HealhInsQuote.net to get the best plan meeting your needs.
Short-term plans usually offer most comprehensive coverage outside of open enrolment. Short-term plans are generally offered with a selection of premiums, deductibles and benefit maximums, and can kick in as early as the next day. Short-term coverage is great in a pinch but it won’t replace a comprehensive coverage. These aren’t designed to cover everything. Your insurer doesn’t have to renew your plan as there are non-renewable. Nevertheless, having some insurance, even if it doesn’t cover everything is always better than having no coverage at all.
The strength of a nationwide network
Despite its some shortcomings, short term health insurance coverage Louisiana could be a smart temporary solution for those traveling out-of-network or are between coverage options. HealhInsQuote.net is your one-stop destination wherein you can view multiple health insurance plans and choose the best one meeting your needs. Choose from several short term health care plans offered by the leading carriers of the USA like MetLife, Molina Healthcare, Ambetter, Aetna, Kaiser Permanent, AIG and many more.
Our services are at no cost to you. You can directly contact the carrier of your choice to get short term health insurance coverage Louisiana for you and your family. We cover most states of the country, Live expert advice is available should you need clarification on your doubts. We also cover dental, life and vision insurance.