Short Term Health Insurance-What Is The Need?
Wednesday, November 11th, 2009Short term health insurance is now becoming popular because of variety of reasons and it provides you extensive care in case of reasons which are not under your control. Here are some points that will help you to know when and why you need it.
When you should think of it?
You should ponder of having the short term health insurance policy, if you are going to have a gap in your existing policy of less than a year. There can be variety of reasons for that like job change, lost your benefits provided by company or you are a new college graduate.
Is it hard to get?
Not, at all. You and members of your family can be covered by the short term policy by qualifying for it. For this the answers to the questions below should be NO.
? Is anyone who is going to be covered is pregnant?
? Have you declined any permanent health cover before because of any health reasons?
? In yester years have you received treatment for cancer, diabetes, blood disorder heart problem or HIV/AIDS?
Is it a True Health Insurance?
Yes. Most of the short-term Health insurance is same as major plans that cover the bearer’s medical expenses after a co-insurance & deductible. As said most of them, we mean that these plans generally do not cover the expenses of annual immunizations or preventive care and also do not cover the prescriptions.
How soon it will be implemented?
Generally the cover starts after the 24 hours, of company receiving the application and the premium. Although you can give a tentative date in the application of near future (within two to three months) that meets, your requirement of having the short term health insurance.
How much it cost?
As these are short term plans the cost is obviously less than that of high ended and general plans. Estimated, these are 75% cheaper than a high ended plan and around 60% than general one. There is no set price of the plan as such but it depends on certain points in deciding the ultimate cost of the plan. These points are
? The number & age of the people that will be covered. Less age means less cost
? The place where you live. It basically means the environment around you. If you live in a environment that is full of fresh air and likewise you have less chances of getting medical help
? The deductibles you select. Higher deductibles means lower cost and vice versa