The Many Reasons Short Term Is Good For Many People
So you find yourself in a situation where you’re uninsured. Don’t worry. You’re definitely not alone. In fact, a recent U.S. Department of Health and Human Services (HHS) report indicated that while the number of uninsured is going down, the national uninsured rate is still 8%.1 That’s the bad news. The good news is a Temporary Medical plan may be ideal for helping fill the void. The question becomes: Is a Short Term insurance plan right for you? If you’re like these folks, it may be a good option.
Steve was recently laid off from his job. Marketplace Special Enrollment and COBRA are both options, but he’s stressing out about money. Steve knows he needs at least some insurance, but would prefer something less expensive until he figures out his next step.
Mike’s got a lot on his mind and missed the window for Open Enrollment on the ACA exchanges. He was happy with his coverage, so he wants something that’ll provide some benefits he enjoyed while he waits for the next Open Enrollment period to come around.
Natalie has a part-time job and currently lives with her parents as she saves up to rent her own place. She just turned 26 so staying on her parents’ insurance is no longer an option.2 She’s young and healthy, but wants at least a little coverage just in case.
Karen is 60 and has decided to call it quits and join the ranks of the happily retired. She’s in good health, but would like some insurance to stay covered until she is able to start Medicare coverage. That said, she’s got to be mindful of budget.
Brian just graduated. Originally he thought he’d get a job fast, but it’s taking a bit longer than expected. He had insurance through his school, but needs a little something to bridge the gap until he lands a job.
1 "New HHS Report Shows National Uninsured Rate Reached All-Time Low in 2022." August 2, 2022. HHS.gov. Retrieved from https://aspe.hhs.gov/sites/default/files/documents/15c1f9899b3f203887deba90e3005f5a/Uninsured-Q1-2022-Data-Point-HP-2022-23-08.pdf
2 Age of eligibility may vary by state.
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Short term health insurance is medically underwritten and does not cover preexisting conditions.
The people and events depicted here are fictional and do not represent actual cases or Scenarios are for a hypothetical person and are provided for illustration purposes only.
This policy has exclusions, limitations, reduction of benefits, terms under which the policy may be continued in force or discontinued. For costs and complete details of the coverage, call or write your insurance agent or the company, whichever is applicable.