Short-term health plans are offered by organizations to provide basic healthcare coverage for persons that cannot access standard plans at affordable rates. Although these plans do not fulfill the requirements of the Affordable Care Act such as covering pre-exisiting conditions, they are available across the country. Short-term health insurance plans in Indiana are especially known for their low-cost nature. Short-term health plans are otherwise known as temporary health insurance with the supporting features.
The temporary nature of these plans make them particularly suitable for certain categories of persons such as persons that are:
Losing the insurance provided by their parents
Without a stable job
Beginning a new job and waiting for the benefits
Without health insurance because they missed enrollment during the open enrollment period
Eligible for Medicare and waiting for the program
Eligible for the activation of standard health plans
No major health conditions and want to benefit from the lower cost
Temporary health insurance may be the most suitable option for persons in certain life stages. Before choosing any of the available plans, be sure to discuss your needs, limitations and expectations with your local health insurance agent.
Features of temporary health insurance
Temporary health insurance generally has limited features. The features of these plans include the following.
They are cheaper than standard health insurance
These plans are aimed at providing very basic healthcare coverage. Because a major feature of these plans is accessibility, they are highly cost effective. The cost-effective nature of these plans make them especially suitable for individuals and families that do not qualify for subsidies for comprehensive healthcare coverage.
They may provide limited coverage
Temporary health insurance in Indiana does not provide enough coverage to qualify as insurance under the ACA. Research has identified certain treatments and services that are typically not covered by temporary health insurance.
Services and treatments that may not be covered by some temporary health insurance plans include immunizations, hernia repair surgery, treatment for moles and cataract surgery. It is noteworthy that over 50% of short-term plans cover mental health services.
It is also noteworthy that none of the short-term plans cover maternity care, as established by research. The benefits of short-care plans vary. The more benefits attached to a plan, the costlier it is.
Affordable Care Act plans, on the other hand, are required to cover 10 essential services. These services and treatments include emergency service, hospitalization, mental health and substance use disorder treatments, ambulatory services, prescription drug and maternity and newborn care. Rehabilitative and rehabilitative services, laboratory services and tests, pediatric services and prevention and wellness care are also covered by ACA plans.
There is no enrollment period
Enrollment periods apply to plans under the ACA. During this period, new enrollments can be made from available offers. After the enrollment period for ACA plans elapses, only persons that fall into special categories can register.
This is not the case for short-term plans. Subscription for these temporary plans are allowed all through the year.
They attract high out-of pocket costs
Short-term plans are known for low premiums and limited coverage. With these features, short-term plans are thus also associated with high out-of-pocket costs when one needs certain services.
These plans can be described as most appropriate for persons that would not need extensive medical services and treatments.
They may not favor persons with pre-existing conditions
Pre-existing conditions significantly influence the suitability of short-term plans for an individual. This is because temporary health insurance does not always cover pre-existing conditions. However, coverage for pre-existing conditions varies with the location as certain state laws require coverage for pre-existing conditions.
Persons with pre-existing conditions may not be eligible for short-term plans. Even if they are eligible, these plans are bound to attract high premiums to cover the services they would require quite regularly. This is why emphasis is especially placed on discussing these plans extensively with local health insurance brokers.
They are available to families
Individuals and families can benefit from short-term insurance in Indiana. However, if a plan is to provide coverage for a family, the eligibility of every family member will be assessed.
They provide immediate coverage
There are no waiting periods with temporary health insurance. Not only are enrollments allowed at all times, the coverage begins as soon as the enrollment is made. If the application is completed today, coverage can begin as early as tomorrow.
They offer a broad network of healthcare professionals
When one buys a short-term health plan, they are likely able to keep their doctor, it is because these plans offer a broad network of doctors. For temporary health insurance in Indiana, for example, there is a wide range of doctors and facilities available. Chances are you would receive products and services from your preferred healthcare provided.
You could also discuss your preferences with local health insurance agents who will guide you towards the most suitable option for your preferred healthcare providers.
They can be canceled automatically
The adaptable nature of short-term plans is especially notable. It is significantly easy to opt in and out of these plans. This is because month to month enrollment 's are allowed with these plans, according to existing regulations.
Automatic cancellation of policies occurs when payments are not made, if payments are monthly. Otherwise, cancellations can be made by requesting a cancellation from your local health insurance agent or specifying the cancellation date when you apply for coverage.
Renewal of short-term health plans
The renewal of short-term plans is an important subject to consider. This is because these plans were designed to serve as temporary measures. The coverage duration of these plans range from 1 to 12 months. The federal rule states the coverage duration of short-term plans to be at most 12 months.
However, state laws specify the actual coverage duration that applies to specific locations. Since a major theme of short-term plans is accessibility, some providers of these plans have designed them to auto-renew, for up to 3 years. Federal laws allow for this provision to ease the renewal process of short-term plans.
Even with efforts by organizations to ease the process of renewing short-term plans, it is noteworthy that renewal could still be a cumbersome process with some plans. Many of the plans we recommend however only require you to the state your current height and weight and agree that you haven't had any major changes in your health condition.
The stress associated with the renewal process is related to the fact that the health status of a policyholder determines the eligibility for renewal. Thus, renewal could be rejected if new conditions develop.
Health insurance quotes in Indiana are offered for short-term plans with different features and conditions. These terms and conditions include the pre-existing condition rider which could be included in plans to allow autorenewal even when new conditions develop.
Choosing health insurance quotes Indiana
Several short-term plan quotes are available in Indiana. These quotes include those offered by United Healthcare and Hii. Local health insurance agents partner with clients in finding the option that serves their needs best.
Here are some factors you should consider with the agent before buying any plan:
Healthcare professionals and facilities network
The chances of maintaining your healthcare provider is improved when the health plan offers access to a broad network of professionals. It is especially important to find out the doctors and facilities offered with a plan.
As mentioned earlier, temporary health insurance is a cost-effective option with basic coverage. This coverage varies according to the provider. The coverage influences the cost-effectiveness of the plan also.
In considering the cost of available plans, it is important to acknowledge that the most cost-effective option will offer the most limited coverage in a lot of cases. In the event of accidents and major health issues, the out-of-pocket expense for the cheapest plan is bound to be significant.
The coverage offered by a plan is directly related to its value. The value of a plan increases when it provides extensive coverage and vice-versa. The coverage may also not be directly related to the cost of the plan.
Discuss health insurance quotes with your Indiana health insurance agent to understand the real value of a plan and its ability to serve your needs.
Over time, insurance organizations have developed products that automate the renewal of temporary health insurance. Such plans allow auto-renewal till the maximum period allowed, currently 3 years.
Products have also been developed to avoid the hitch that could be caused by pre-existing conditions during renewals. Discussing these features when considering quotes is important to choosing the most suitable plan.
It is important to also confirm the ease of cancellation of temporary health insurance, especially if you're hoping to subscribe to another insurance type in the future.
Short-term health plans are generally adaptable plans. You can renew them seamlessly, depending on the provider, at intervals that range from 3 months to 12 months. The peculiarities of these plans must be properly considered before they are chosen.
Short term health insurance can be a good option for the right people. It's important to know the pros and cons of the policies available to you. Working with a broker that has access to several of these plans could prove beneficial.