What Can 18 Months And 2 Years Old Babies Do The Short Term Medical Plan Article #1 of Series Health Plan Options

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The Short Term Medical Plan Article #1 of Series Health Plan Options

Health insurance today is a mess. We need it, but can we afford it? We have our car insured, why not the family? “I hope nothing happens to me so I don’t need to go to the hospital.” These are all notions we have as concerned people and parents. Health care is increasing as are premiums. COBRA is expensive but if you have health conditions it is necessary. Are you slightly overweight or a smoker? All of these are factors in getting or not getting health insurance. What can you do in the meantime while you’re thinking about it or losing weight or quitting smoking or maybe you’re even between jobs?

The Plan:

A little known policy remains out there that you may or may not be aware of and that is the Medical Plan. The plan is self-explanatory because it is fixed for a period of time. The plans we serve range from anywhere between 30 days to 360 days of coverage. That means you can have coverage for a month or two or even six months to a year, the choice is yours. Short-term medical plans are temporary plans and are not permanent. Think about it this way, just because you don’t have health insurance doesn’t mean you don’t have or won’t have health problems. The short-term plan is a way to get coverage for a temporary set amount of time.

Why Short Term Medical?

Short-term medical can ease the pain of not having health insurance for different reasons. A popular reason why people use STM is because they are between jobs. The person had coverage here and is now unemployed, the insurance stays with the job, now they are without coverage. Maybe you’re in a 30-90 day waiting period but don’t want to risk not having any coverage at all. Waiting periods occur with group coverage and the employer basically wants to make sure you’re worth it to offer medical coverage.

When you have children who reach the age where they come from your plan. Usually this is when the dependent goes to college or graduate school. You want your dependents to have health insurance, but don’t know what’s offered in that state or maybe the health coverage doesn’t travel well. The STM is a viable option for those in need and it is probably ranked number 2 in why the STM is used.

So many Americans are part-time or temporarily employed as well as laid off and health coverage is not available to them. The STM is a way to get coverage quickly and not have the burden of huge premiums hanging over your head. Remember that the STM is for temporary coverage just as the person is temporarily unemployed, when you get a job that offers coverage, you simply cancel.

COBRA is the alternative when you leave a job, are laid off, etc. but it can be expensive. If you have pre-existing health problems, COBRA is probably your only alternative, as you can roll that condition into an individual policy after 18 months of coverage. If you are a healthy individual, you do not need to go on COBRA, you could instead, while looking for another job, choose a short-term plan to see you through until your plan at your new job is available to you.

How it Works:

Typically the short term medical plan gives you the freedom to choose any doctor or hospital and has a deductible for an individual as well as the family. Once the deductible is met, then the plan kicks in up to a specified amount like $2 million. You will also have the option of coinsurance benefits; this is the 80/20 split or 50/50 split. The coinsurance is limited to the first $5000 or $10000 respectively depending on which plan is offered and with which company. Once this is accomplished, the plan should pay 100% of covered expenses. Quite simply: you go to the hospital and pay the first $250 then depending on which plan you chose, it will pay 80% of the next $5000 in charges, which leaves you with $1000 and 100% after that. So if you had a whopping bill of $15000 of covered expenses your bill would be $1250!

Qualifications

The qualifications to apply for STM plans are limited. Typically anyone under 65 and children under 19 or 25 if a full-time student qualifies. There are limited questions with the application process, for example 7-9 questions to answer. Height and weight are not a factor in most plans, so if you struggle with weight issues in the meantime you would qualify for a short-term medical plan. Be aware that these plans do not cover pre-existing conditions and if one of them says they do, make sure you read it carefully. You may even be able to cover your child before they are eligible for your group plan or state plans.

In short, the short-term medical plan can be an important tool for anyone to use. It can cover that gap in coverage for whatever reason is available to you. It is not an alternative to major medical coverage because it is only for temporary use, but when that coverage is not available to you, this is an option for you. Many people are unaware of the existence of these plans or are being hyped about other MiniMed plans that can do more harm than good.

Gulf Breeze Insurance Inc. Florida health insurance provider, http://www.gulfbreezeinsurance.com

, use this plan all the time to help people get through hard times and waiting periods. I believe the phrase goes “Something is better than nothing” and when you think you’ve run out of options, turn to the STM plan.

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