Short-term or Limited Medical Benefit plans, as they're called, are just a few practical solutions for someone who finds themselves out of work for the foreseeable future. As the names imply, they're designed to provide coverage for a short range of time such as 6 or 12 months,as well as, benefits for hospital confinement or some routine procedures. Typically they come with a choice of deductibles and lifetime maximums. They're not designed to cover catastrophic claims or be in place for the long-term. They cover such things as doctors visits, hospital benefits, emergency room care, outpatient services and much more. The premium is very affordable and you can be approved in a day or so.
Here are some situations that Short-term or Limited Medical Benefits make sense:
- Between jobs - For about half the cost of COBRA, Short-term Medical offers next day coverage.
- Waiting for Employer Benefits - New employers often impose a waiting period before you're eligible for health benefits. With Short-term Medical, you stay insured and can choose the length of your plan.
- Temporary or Seasonal Employees - When your employment schedule is unpredictable, it's hard to maintain health coverage, Short-term Medical provides flexibility.
- Newly Independent - Young adults and recent graduates may no longer be eligible for health insurance through a student plan or their parents plan. Short-term Medical is an affordable way to fill the gap.
Highlights:
- Coverage as soon as the next day.
- You may keep your own doctors.
- Access doctors 24/7/365 - from your phone.
- Low monthly premium.
