Did you know that getting affordable health insurance just got a lot easier? New federal regulations state that you can keep short-term health insurance for up to one year with the option to renew coverage for up to two years, depending on your state.*

Many Americans who do not want all of the coverage from an Affordable Care Act (ACA) major medical plan are seeking affordable health insurance alternatives. If you’re one of them, you should know that short-term health insurance could be for you. Short-term health plans have competitively lower monthly premiums, protection from medical emergencies, and now, renewability opportunities.

How Long Does Short-Term Health Insurance Last? 

Vera Health provides access to affordable, renewable short-term health insurance in various states. Depending on the state in which you purchase your plan, you can keep your short-term health coverage for up to one year. * Then, you can renew your plan up to two additional times, resulting in three years of affordable short-term health insurance. Is that longer than you thought?

Vera Health currently offers short-term health insurance in the following states:

  • Texas
  • Louisiana
  • Kentucky
  • Florida
  • Nebraska
  • North Carolina
  • Virginia
  • Arkansas
  • Mississippi
  • Ohio
  • Arizona

Renewing Short-Term Health Insurance

If you’ve thought about applying for short-term health insurance in the past but felt uneasy about the limited coverage duration, you may be excited by the new short-term health insurance laws. How do you know if short-term health insurance is right for you? There are specific groups of individuals that could benefit from a short-term health plan, including:

  • Entrepreneurs
  • Solopreneurs
  • Freelancers
  • Small business owners
  • Rideshare drivers
  • Individual contractors
  • Service industry workers
  • Those between jobs
  • Self-employed individuals
  • Anyone who doesn’t receive health insurance from an employer
  • Anyone who wants to save money on health insurance
  • Anyone who doesn’t have pre-existing conditions

Vera understands that not everyone receives health insurance from their workplace. That’s why we offer affordable short-term health insurance plans for those who don’t need or want all of the coverage included in ACA major medical plans. Affordable health insurance can be hard to find, so we want to help protect you from unexpected medical emergencies with flexible, renewable coverage options.

New Short-Term Health Insurance Laws

Health insurance can be expensive. If you don’t receive coverage from your employer, you may not realize that you have options outside of the health insurance marketplace, like short-term health insurance. In the past, some short-term health insurance plans only included coverage for three months. However, the need for affordable health insurance across the country led officials to rethink the notion of short-term health insurance. Now, in some states, consumers can keep their short-term health insurance for a more extended period.

Also, before 2019, those who did not have Minimum Essential Coverage (MEC) could have been subject to a tax penalty. Short-term health plans are not MEC, so if you had a temporary insurance plan, then you may have been penalized. However, the penalty was reduced to $0.00 for tax years 2019 and later, so short-term health insurance policyholders will no longer be subject to a tax penalty.

So, do you think you’ll make the switch to short-term health insurance? The United States Department of Health and Human Services predicted that 500,000 people will purchase short-term health insurance in 2019 and that 1.4 million will enroll by 2028! What is drawing people to short-term health insurance? Short-term health plans are more affordable, available, and flexible than other health insurance options.

4 Benefits of Getting a Short-Term Health Plan

1. You Have a More Affordable Health Insurance Alternative

Short-term health insurance offers cheaper monthly premiums than many ACA major medical plans. How is this possible? Short-term health plans have limits on the types of benefits they cover and the amount of benefits they provide. Also, short-term health insurance does not provide all essential health benefits required by the ACA, like:

  • Coverage for pre-existing conditions
  • Mental health services
  • Pregnancy care

However, short-term health insurance does include benefits for many medical services, like:

  • Doctor visits
  • Urgent care
  • Ground ambulance trips
  • Hospitalization, and more

Short-term health insurance can be a quality, affordable option for those who don’t plan to use all of the coverage offered by ACA major medical insurance plans but still want some financial protection from medical emergencies and doctor visits.

2. Your Coverage Now Lasts Longer

With the option to keep short-term health insurance for up to a year and renew coverage up to two additional times, you can now pay for the coverage you want for a longer period. Vera is all about helping you get insured on your terms. We don’t think you should pay for coverage that you won’t use, and now, you can keep affordable, flexible coverage for an extended duration.

3. You Can Apply at Any Time

Short-term health insurance doesn’t operate on an enrollment period schedule. You can apply for coverage on any date, at any time of year. We’re all about flexibility, transparency, and affordability.

4. You Could Get Next-Day Coverage

Did you know that short-term health insurance kicks in quickly with plans starting as soon as the following day? ** So, don’t go without health insurance. Instead, apply for a short-term health plan through Vera today to get the coverage you want tomorrow.

What Does Short-Term Health Insurance Cover?

So, now you know that short-term health insurance provides benefits for various medical services, but what is covered, specifically? When you purchase a short-term health plan through Vera, you can expect benefits for the following medical services to help you stay safe, healthy, and financially protected:

  • Doctor visits
  • Urgent care
  • Ground ambulance trips
  • Telemedicine (through the LIFE Association membership)
  • Outpatient physical therapy
  • Inpatient/outpatient hospital benefits
  • Hospital stays
  • Some diagnostic testing
  • Home health care
  • Child immunizations
  • Surgery benefits, and more

Keep in mind that covered services may be subject to waiting periods, visit limitations, deductible, coinsurance, or copays, and/or benefit maximums depending on the plan you purchase.

How to Get Short-Term Health Insurance

If you’re interested in learning more about short-term health insurance, visit verahealth.com or speak with a friendly Vera Health expert by calling 888-499-1187. We’d love to answer any of your questions and help you find the right plan for your budget. We’re looking forward to chatting with you and helping you save money on your health insurance!

* Maximum 12-months less one day/364 days in NE.

** Get the benefits you need for injuries and preventive care right away, with eligibility for sickness benefits after just 7 days. The 7 day wait on sickness benefits is waived if the application date is more than 7 days from effective date.

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.

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Vera Health markets short term medical insurance products underwritten by National Health Insurance Company, Integon Indemnity Corporation, and Integon National Insurance Company.

Vera Health markets short term medical insurance products underwritten by National Health Insurance Company, Integon Indemnity Corporation, and Integon National Insurance Company.