Short-Term Medical” policies are temporary medical insurance coverage. This coverage does NOT qualify as health insurance under the requirements of the Affordable Care Act and cannot be used to meet the ACA’s requirement for individual health insurance. They are specifically designed to provide a bridge should you find yourself without coverage until the next enrollment period to get ACA-compliant coverage.
The maximum term length is 6 months. Eligible expenses caused by illness or injury and incurred from any doctor or any hospital within the USA will be reimbursed to you after the deductible. They permit you to choose your deductible, allowing you to control your coverage and its price. Unlike major medical or long-term plans, short-term medical insurance also allows you to purchase coverage in monthly increments and is paid by credit card in an automatic monthly payment. Coverage can be effective the following day of enrollment. Short-term plans exclude pre-existing condition coverage, meaning that if you have a condition that has required medical attention, that condition would be excluded from coverage under your short-term medical plan.
- All expenses are applied toward the deductible.
- Once the deductible has been fulfilled, the policy will cover 100 percent of eligible expenses.
The Short-Term Major Medical plan is set up to be as simple as possible—no copay and no coinsurance. Policy maximum and deductible are per person, per policy period. Deductibles range from $500 to $2,500.