Do you need low cost health insurance now? Few people know about temporary health insurance options that are low-cost and comprehensive, providing you with the coverage you need now. Whether you are in between jobs, working part-time without coverage or waiting to enroll in a major medical insurance plan, a temporary health insurance plan will keep you covered until something more permanent comes along. It’s also a great option for students when a student health plan is not offered by the college or university. You can find one of these short-term health insurance plans from a number of different providers. The top providers include United Health One, Everest and LifeShield Advantage. If you may be in need of temporary health insurance, check out these frequently asked questions.
The maximum coverage will vary depending on your insurance plan. For instance, with United Health One, it can be as low as $600,000 or as high as $2,000,000. With Everest maximum coverage goes up to $1,000,000. But be aware that the higher the maximum coverage the higher the premium. However, it should be noted that prescription costs are usually not covered under these plans.
Anyone who is currently unemployed or looking for a job should consider temporary health insurance. Likewise, recent graduates may also want to apply for temporary health coverage until they find a job that will provide benefits. Also, if you are waiting for the enrollment period for health insurance or are waiting for your employer’s benefits to begin, you’ll also need a temporary health insurance solution.
For most temporary health insurance plans, there is in fact no penalty for dropping your plan when you no longer need it. This is the nature of a temporary health care plan. So, don’t worry about making any huge commitments.
Payments for your temporary health insurance can be made in full for a fixed period or coverage can be paid for in monthly installments. The cost of coverage will depend on your particular case and what you need from a healthcare standpoint.
Premiums for temporary health insurance are usually not a huge expense. In fact, according to United Healthcare One, premiums for temporary insurance are typically lower than health plans under the ACA.
Some temporary health insurance plans such as LifeShield advantage offers options for coinsurance that will extend your coverage. LifeShield Advantage offers 80/20 coinsurance options and even 100/0 which means you’ll have either 20% copayment or 0% copayment.
One of the great things about temporary health insurance is that you can choose your own doctor just as you may with your previous health plans. You can choose from one of the in-network providers and there will be tons of options for you.
You’ll also have a choice between different deductibles which will affect how much you pay. Typical deductible options for temporary health insurance like United Health One are $1,000, $2,500 or $5,000.