5 Reasons Employees May Need Short Term Health Insurance
Health Coverage that Makes Sense for Individuals & Families
Short-Term Health Insurance might be a good fit for you and your family if you are healthy. If you earn too much to qualify for a government subsidy under The Affordable Care Act (ObamaCare) but can’t afford health insurance, this plan might be a good fit for you.
Missed Open Enrollment
Basic insurance plans allow you to sign up during an open enrollment period. If you miss the enrollment window, you usually have to wait until the next year to sign up. A short-term health insurance plan can provide coverage for up to eleven months to prevent a lapse in care. The temporary coverage allows you to continue receiving checkups and treatment for ongoing conditions.
Long Coverage Waiting Period
Even before you have a chance to sign up for medical coverage at a new job, you must first stay employed past the probationary period. This period often spans from three to six months, which leaves you without medical care during the wait. Signing up for short-term health insurance allows you to maintain coverage within this gap. Once your new insurance plan kicks in, you can cancel the short term plan without paying a fee.
Plan To Switch Jobs Soon
If you want to switch jobs soon, you will need to establish a solid plan to maintain insurance coverage while you change course. You can sign up for short-term health insurance the month before you leave your job to ensure access to medical care during this period. You can even personalize your temporary plan by selecting comparable deductible and coverage amounts.
Early Retirement Imminent
When you retire, you may be able to tap into funds to pay for an age-based health insurance plan. If you decide to retire early, however, you may not have the available funds nor qualify for the age-based insurance coverage. Thankfully, you can use short-term health insurance to bridge the gap. The short-term insurance plan will help you stay in good health while you figure out the details of your early retirement plan.
Temporary insurance plans can help eliminate stress while you figure out your long-term insurance plan options. With short-term coverage, you can see your doctor and stay in good health while you deal with workplace transitions.
THIS IS NOT QUALIFYING HEALTH COVERAGE (“MINIMUM ESSENTIAL COVERAGE”) THAT SATISFIES THE HEALTH COVERAGE REQUIREMENT OF THE AFFORDABLE CARE ACT. IF YOU DON’T HAVE MINIMUM ESSENTIAL COVERAGE, YOU MAY OWE AN ADDITIONAL PAYMENT WITH YOUR TAXES.
Health coverage exemptions:
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Short Term health insurance plans, are available all year. We offer short term health insurance in Louisiana, Illinois, Texas and Georgia.