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All You Need To Know About Short Term Health Insurance
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No one can deny the fact that health insurance is a crucial part of our lives. It helps us to protect ourselves from foreseen situations like accidents and sickness. A short term health insurance generally covers major catastrophic health problems. It offers a stopgap arrangement in health care.
What is covered by Short Term Health Insurance?
The types of expenses covered by short term health insurance are generally the same as any other comprehensive plan. Expenses that are typically covered include daily hospital room charges, miscellaneous hospital services, surgical services, anaesthesia, out-of-hospital care.
Important Points to be noted:
1) The policy does not offer anything for preventive care like immunizations and vaccinations, dental or vision care. Pre-existing medical conditions are excluded in the affordable short term health insurance.
2) It also will exclude childbirth and usually all pre-existing medical conditions.
3) Short term health policies are normally sold to people under the age of 65.
As stated earlier, short term health insurance is just a temporary solution. Generally a short term health insurance plan lasts for 12 months or less. There are some, though, that will go up to 36 months.
Who should go for it:
Unemployed, part-time employed, people between jobs, recent college graduates, early retirees, temporary employees may consider taking a temporary health insurance.
Types of plans:
Health insurance plans are usually of two categories:
The two vary in their basic approach, particularly in choice of providers, out-of-pocket costs for covered services, and how bills are paid.
1) Indemnity plans or fee-for-service plans: Indemnity plans allow you to direct your own health care and visit any physician or clinic you like. The insurance company then pays a previously decided percentage of your total charges.
2) Managed care plans. The managed care plans possesses agreements with certain doctors and health care providers to offer many services to individual plan members at reduced cost. A managed care is an affordable choice for many.
Sales of short-term health insurance plans have accelerated in recent years because of its tendency to offer both low monthly costs and high coverage limits.
But before you buy an insurance, make sure you review several insurance quotes online because only by going through this process will you be able to make an effective comparison of the various options and will help you to decide on the right pick based on the cost, type and benefits.
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