The Obamacare Open Enrollment Period ended about a month and a half
ago, and many people still find themselves without health insurance.
Some may not be able to comfortably afford a plan, couldn't make a
decision on what to buy, and maybe some just plain forgot. Now many
people find themselves wondering how to go about getting health
insurance outside of Open Enrollment.
Qualifying Life Event
In
order to enroll in a major medical plan outside of Open Enrollment,
individuals must have a qualifying life event, such as getting married,
having a baby, moving to a new state, and other scenarios. When such an
event occurs, this triggers a Special Enrollment Period, allowing
someone to enroll in a plan.
If a qualifying life event does not
occur, but someone is still interested in getting health insurance,
there is an alternative. Short-term health insurance has some key
differences from major medical health insurance, but still offers some
great benefits to tide a person over until they can get other coverage.
Short-term Health Insurance
A
short-term plan will function similarly to a major medical plan. When
reviewing available plans, there is a breakdown of deductible and
copayment amounts, maximum coverage limits, etc. available for each
plan. They will vary by plan, which provides the health insurance
shopper with many options. If someone is just looking for basic coverage
that protects against big, unexpected emergencies, there will be a plan
that works well for that scenario. Others who know that they will want
copayments for office visits and prescriptions can find a plan to fit
those needs as well.
Regardless of why someone cannot enroll in a
major medical plan, one of the biggest benefits of a short-term plan is
that it typically costs much less than a major medical plan. As with any
plan, prices will increase with a short-term plan as the coverage
amount increases. For instance, a low deductible will likely result in a
higher premium. This is the case with virtually any type of plan. The
more protection you have, the more it costs. Again, though, generally
speaking you will pay less for a short-term plan than for a major
medical plan.
These plans are no doubt helpful when traditional
major medical insurance is not an option, and some people may even
prefer a short-term plan over major medical. However, as its name
implies, short-term insurance is not intended to be a permanent
insurance solution. For this reason, many plans are only available up to
a year. However long the term, once the plan ends, it must be reapplied
for. There is no guarantee it will be approved.
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