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What is Short Term Medical Insurance

Short term medical insurance is temporary medical insurance and is designed for people who are in between permanent health plans. Short term medical insurance in the US is available and ideal for those who are unemployed, between jobs, have just finished college and waiting for that perfect job, retired or an alternative to COBRA. There are many health insurance companies that provide this type of medical coverage. This medical insurance plan provides many insurance benefits while keeping the premiums reasonably competitive.

Here are the following people who can apply under the various plans of Short term medical insurance

' Those who are 65 years of age or younger and are not eligible for Medicare. Both the person and their spouse are eligible under the scheme.

' Children who are aged between 2 - 18 years of age and are dependent are also eligible.

' Those who are full time students and are below 25 years of age

' Children who are of 19 years and above but are dependent on their parents are also eligible but should apply separately.

Dollar Value Benefits

The benefits are provided per person insured up to 2 million and the deductible amounts can vary from $250, $500, $1000 and $2500. These benefits will accrue to the person after the deductibles are completed. The Short term medical insurance companies normally provide for a 50/50 copay plan (you pay half, your insurer pays half) or an 80/20 plan where the insurance company pays 80% of the cost and you pay 20%. These plans do not cover preventive care, routine medical exams, or pre-existing medical conditions

Since the plans offered under Short term medical insurance in the US are not HMOs or PPOs, the insured can choose any doctor or any preferred network. Short term medical insurance in the US is given for a very short time period, although these policies can normally be renewed after the expiration date. Any condition that occurs during this period is treated as a pre existing condition during the coverage of the renewed insurance policy. Those who are over 64 years of age and wish to get a renewal will not be eligible for a renewal under the Short term medical policy.

Exclusions For Pre Existing Conditions

The maximum coverage limit for the Short term medical insurance is generally 2 million dollars per person. There is no coverage for pre existing conditions, work related conditions and preventive care. These are taken as pre existing conditions under short term medical insurance. These conditions will not be covered by the plan. In the event that such conditions that arise, a supplemental insurance coverage should be considered. . Ask your insurance broker or insurance adviser for your alternatives.

Very simple to apply

Applying for short term medical insurance is very simple. After answering a few simple questions, make the payment, fill out the form and send it to the company. Make sure that the plan you select is available in your state prior to sending the payment. If a person is not fully satisfied with the plan coverage, then the certificate of insurance can be returned within 30 days and the full premium should be refunded less any administration charges.

Save Money

To save money on these plans you can increase your deductible (the amount you pay on a claim before the insurance company pays), or choose a lower copay for example the 50-50 instead of the typical 80-20 plan.