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Finding the best short term medical plans may at first appear a daunting exercise but it’s not as overwhelming as it seems. Short-term medical coverage has gained in popularity as Americans look to alternatives for health coverage of if they are in between jobs, have a life changing event or simply don’t qualify for health coverage for any number of reasons. Americans may use short-term medical insurance if they are uninsured, or if they are outside the Affordable Care Act’s open enrollment season.

Before health-care reform, many people utilized short-term medical policies in between jobs or if they lost employer group health coverage and had two or three months with no insurance coverage. Short-term health coverage is also a great choice outside of open enrollment periods or if a new employer has a waiting period. It is not recommended to go without any insurance coverage. Short-term Medical Plans are the only option outside of the Affordable Care Act’s Open enrollment Period.The Affordable Care Act allows for Special Election Periods outside of open enrollment which starts on November 15 each year.

In order to gain health coverage outside of the open enrollment period, individuals need to have a change of life event such as getting married, having a child or getting divorced. Individuals may still get hit with a tax penalty for not complying to the new health care law, it can give some monetary relief if medical issues emerge.

Short-Term medical plans are typically low cost, easy to obtain and can provide coverage anywhere from 1-11 months. Due to the structure of the plans, not everyone can meet the requirements for it. The plans do not meet the minimum essential coverage requirements of the Affordable Care Act as of February 2017 (the writing of this article). This can have financial implications according the Affordable Care Acre Act aka ObamCare.

Insurers such as United Healthcare’s Golden Rule Insurance Company do not cover pre-existing conditions but will write a policy on an individual and exclude their pre-existing conditions. There is considerable peace of mind, whether an individual or family to know that if a major health event occurs, outside of a pre-existing condition that it will be covered according to the terms of the short-term-medical plan and may very well save the policyholder from financial bankruptcy.

Short-term medical plans last from one to eleven months and can cost just over $100/month for an individual and about $275 for a family. Customers who benefit most would be the individuals who plan to buy medical coverage for their families before the Affordable Care Act’s open enrollment period, which starts Nov. 15.


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