Do you receive health insurance from your employer? If not, your first instinct may be to shop for medical plans offered on the Affordable Care Act (ACA) exchange, which provide ACA-required essential health benefits. However, if you do not need all of the coverage offered by these plans, then you may consider looking into a lower premium health insurance alternative: short-term medical (STM) insurance.
What Does Short-Term Health Insurance Cover?
Short-term health insurance can help protect you financially from life’s unpredictable moments, like unexpected health care costs and expensive medical bills.
Although short-term health insurance does not offer comprehensive health care coverage like health insurance plans offered by the ACA, it does provide coverage for some health care, including
- Doctor visits
- Urgent care
- Ground ambulance trips
- Emergency room care
- Child immunizations
- Inpatient/outpatient hospital benefits
- Some diagnostic testing
Is Short-Term Health Insurance a Good Fit for Me?
Short-term health insurance is a great health insurance option for those who do not have any pre-existing conditions, are not planning to become pregnant, and don’t receive health care benefits from an employer. If you’re self-employed, in-between jobs, or freelancing, you can have some financial peace-of-mind with affordable health insurance that helps you save money on your monthly premiums for up to twelve months with the option to renew your coverage, depending on the state where you purchase your plan.
If you have any chronic conditions or need mental health care, pregnancy care, or coverage for prescription medications, then an ACA health insurance plan may be a better fit for you. However, Vera Health helps you pay for the coverage you want, not the coverage you don’t. If you don’t have any pre-existing conditions, then short-term medical insurance could help you save money on your health insurance and give you more financial freedom
Benefits of Short-Term Health Coverage
Short-term health coverage includes customizable plan options that are tailored toward your personal needs, budget, and lifestyle. There are many benefits to purchasing short-term health insurance, such as:
- The opportunity to apply for coverage at any time
- Flexible plan durations
- Financial protection from expensive medical costs
- Low monthly premiums
- Freedom to choose from multiple payment options
Buying Short-Term Health Insurance
Short-term health coverage is flexible, so you can apply at any time. ACA health insurance plans are only available during the Annual Open Enrollment Period unless you qualify for a Special Enrollment Period through a qualifying life event, like moving, getting married, or having a baby. On the other hand, Short-Term health insurance is available outside of Open Enrollment so that you can get coverage on your terms.
At Vera Health, we strive to streamline the path to affordable short-term medical coverage with personalized, transparent plans that give you the coverage you need and the freedom you want. To learn more about short-term medical coverage and how it differs from traditional major medical insurance, call 844-961-9645 to speak with a licensed Vera Health expert today.
This coverage is not required to comply with federal market requirements for health insurance, principally those contained in the Affordable Care Act. Be sure to check your policy carefully to make sure you are aware of any exclusions or limitations regarding coverage of preexisting conditions or health benefits (such as hospitalization, emergency services, maternity care, preventive care, prescription drugs, and mental health and substance use disorder services). If this coverage expires or you lose eligibility for this coverage, you might have to wait until an open enrollment period to get other health insurance coverage.