subject: Scenarios For Short Term Health Insurance And Benefits [print this page] Scenarios For Short Term Health Insurance And Benefits
What is a Short term health insurance?
This kind of insurance is generally a health insurance plan that has a time period of not more than 6 months. Although it is not mandatory, it can be renewed to go higher up to an year or so. A short term health insurance has a simpler procedure than the general standard health insurance plan which means one can get the policy within 24 hours of application and payment.
Some of the schemes available for a short term insurance plan may or may not allow you to renew the policy too many times. You can get coverage for a period as small as 30 days too, by making the payment upfront or by making a monthly payment and then closing out the policy.
Why does one choose a Short Term Health Insurance?
A short term insurance as the name suggests is always taken when a person is between two phases and there is uncertainty over the future plans. A great example is when a student has just finished his education and is looking for a job and meanwhile needs a health insurance.
Similarly an employee who has been fired or is switching jobs, will get a new short term health insurance quotes with a new job, but needs something temporarily which is the perfect scenario for a short term health insurance.
During union strikes or break from work or leave due to personal problems, one can take this insurance to stay safe from sudden illnesses, accidents or any such unforeseen expenditure that might come up. A person must be prepared for such situations even if it is just a temporary plan.
Special Benefits of a Short Term Health Insurance plan
As the definition itself suggests this plan keeps you covered while you are not holding a job or don't have any other source or coverage for medical expenses. Even though it is a temporary option, it covers for all the major expenses or big costs like accidents and sudden illnesses.
You are sure you only need coverage for a few weeks or a few months but don't want to take a risk with the bigger policies in a moment of dilemma. That is when this insurance comes in handy while you figure out if the medical insurance provided by the new job will suffice or there is anything else that you need to take care of.
You can also go for an insurance that will let you extend the insurance, which will take care of the unpredictability part of the insurance too. It is very quick to get and close, so there is lot of flexibility compared to other policies which might take longer.
The medical coverage you get under this scheme can go up t0 $2 million which is quite a big sum of money and can take care of many accidental medical expenses. Moreover it gives you the flexibility of getting treated from any doctor or hospital of your choice without any limitations.
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