What Exactly Is A Short-Term Health Insurance Plan And What Are Your Options?
If there is a lapse in your health insurance policy, you can get temporary coverage through short-term health insurance. The purpose of availing of a short-term health insurance policy is to bridge the gap between other plans. However, seeking short-term health insurance might be an uphill task for many. The editorial team of Forbes Health has evaluated the insurance companies in the United States that offer health plans across the country. They have considered how large their provider networks are, their physician and specialist copay rates, the benefits of each plan, and how the Better Business Bureau rates them. Below is a list of some of the best short-term health insurance providers of 2021 and other details you must know before choosing one. Check it out.
COBRA
The Consolidated Omnibus Budget Reconciliation Act or COBRA is a federal law and not a health insurance provider. COBRA is among the best options you have when you want to choose short-term health insurance. Through COBRA, you have the benefit of staying on an employer-sponsored health insurance plan even if your job status changes. Depending on the circumstances you are in, you can continue with health coverage for a period of 18 to 36 months. This is because you are shelling out the full premium of your plan.
COBRA can be a bit heavy on your pockets. But COBRA’s coverage and availability options allow you to maintain the same copays, same prescription coverage, and same doctors that your employer-sponsored health plan offered. Aside from that, your insurance begins from the date there was a lapse in your original health insurance coverage. Moreover, you can cancel COBRA anytime you want. COBRA is available in all 50 states as well as Washington D.C.
UnitedHealthcare
UnitedHealthcare is one of the most popular providers in the United States. The health insurance company offers several short-term health plans underwritten by Golden Rule Insurance Company with different coinsurance and deductibles. In addition to that, after you sign up for UnitedHealthcare, you access its network that comprises 6500 hospitals, 1.4 million physicians, along with other facilities.
You can continue receiving health insurance coverage for a period ranging from one month to one year. However, that depends on the state you are a resident of. If you want to cancel UnitedHealthcare, there is no penalty attached. UnitedHealthcare plans can include dental coverage too. UnitedHealthcare is active in all 50 states and Washington D.C.
Pivot Health
If you want short-term health insurance at a price that’s easy on your pockets, you can opt for Pivot Health. Compared to COBRA, the premiums and copays are lower for Pivot Health. There is a 20% to 30% coinsurance on all Pivot Health plans, while deductibles are normally between $1000 and $10,000. Additionally, a $500 deductible on prescription drugs is applicable for some plans, a primary physician copay of $30, and a specialist and urgent care copay of $60 applicable on certain plans.
Some plans do not depend on the Pivot Health network. You can sign up for Pivot Health coverage from anywhere for a while, from one month to three years, depending on which state you are a resident of. Pivot Health also offers various perks such as a 70% discount on prescription drugs and 30% discounts on eye examinations, glasses, and contact lenses.
Are You Eligible For Short-Term Insurance?
If you are under 65 years of age and are doing well health-wise, you can apply for short-term health insurance. The insurance provider will verify your health status and decide whether you are eligible for health insurance coverage. Besides that, the company will decide how much you will have to pay for the coverage and the exclusions.
Short-term health insurance plans are not available in 11 states. As of 2021, New York, New Jersey, New Mexico, California, Colorado, Vermont, Massachusetts, Connecticut, Hawaii, Rhode Island, and Maine don’t allow short-term health insurance plans. This is either because they have banned them or have put strict rules for the insurance providers.
As compared to long-term health insurance plans, short-term health insurance plans are cheaper. Compared to individual market coverage, short-term insurance plans cost some 50% to 80% less. However, you need to research and assess your requirements to zero in on the perfect health insurance plan for you and your family. Always check what kind of insurance plans and options are available in your state before making a plan.
More in Motivation
-
`
Is Swimming in Cold Water Good for You?
Swimming is a beloved activity that provides numerous physical and mental health benefits. Swimming can be a fantastic workout, whether you’re...
November 15, 2023 -
`
Unlocking the True Benefits of Detox Water
Detox water has taken the health and wellness world by storm, promising a wide range of benefits that go beyond ordinary...
November 7, 2023 -
`
How Tom Brady Shed 10 lbs After Retirement
One of the NFL’s most celebrated athletes, Tom Brady, has always been a topic of discussion. Brady never fails to surprise,...
November 1, 2023 -
`
AI’s Hidden Toll on Our Brains
Artificial Intelligence (AI) has permeated almost every facet of our lives, from virtual assistants and recommendation algorithms to autonomous vehicles and...
October 24, 2023 -
`
What to Drink During a Workout
When it comes to getting the most out of your workout, proper hydration is key. What you drink during exercise can...
October 17, 2023 -
`
Wearable Technology Applications in Healthcare
The world of healthcare is evolving at an unprecedented pace, and wearable technology is one of the driving forces behind this...
October 10, 2023 -
`
Initiating and Integrating Exercise in Daily Life
Incorporating exercise into our daily lives is essential for maintaining optimal health and well-being. However, initiating a fitness routine and seamlessly...
October 10, 2023 -
`
Jason Momoa’s Workout Routine for Iconic Aquaman Look
We all remember the moment: The big screen lights up, waves crash, and out emerges Jason Momoa as Aquaman, with his...
October 8, 2023 -
`
Crying: The Benefits on Mental Health
In a world that often champions stoicism and emotional restraint, shedding tears is sometimes dismissed as a sign of vulnerability. However,...
September 26, 2023
You must be logged in to post a comment Login