Health Insurance Articles
What Are The Benefits Of Obtaining Short-term, Temporary Health Coverage
2010-01-24
Short-term or temporary health insurance coverage is something that many individuals will need and consider at specific points in their life. There are several life situations that will lean towards the need to obtaining temporary health insurance for additional protection and security for families. A temporary health insurance policy will help fill several needs especially with gaps in insurance coverage.
Temporary health insurance policies are beneficial to the following candidates: Those who are in between jobs (resulting from a layoff, company downsizing, or career change); fresh college graduates who are no longer eligible for coverage under the insurance policies of their parents; those changing jobs and are in search of a cheaper alternative to COBRA (Consolidated Omnibus Budget Reconciliation Act); those with part-time jobs that do not provide health insurance to employees; those who have started new jobs but have not yet received the sponsored coverage from their employers (because even when one has already started a new job, he or she likely will not be eligible for the group coverage until a few months later); legal resident aliens; those who cannot afford group coverage insurance; retirees; and travelers who are abroad.
One major advantage of obtaining a temporary health insurance is that one can get covered almost immediately. One can easily apply, underwrite, and receive a short-term life insurance policy within just 20 minutes online. For the application, there is no need for physical exams and medical tests and generally, there should be no delay between application and policy approval. Typically, one can apply for 30-365 days of coverage or even up to 3 years in some cases. Although the policy is designed for just 6 months, a policy holder may apply for an extension in some special cases. Coverage benefits include: physician/hospital services, outpatient and inpatient surgeries and procedures, inpatient hospital stays, X-ray and lab services, prescriptions, nursing facility care, and home rehabilitation and health care. A short-term health insurance policy will also allow its policy holder to go to any physician or hospital of choice in the event that an accident, injury, or illness occurs.
Another benefit is that temporary health insurance is a very cost effective means for individuals and their families to obtain insurance benefits for injuries and illnesses that can possibly occur within the period of coverage. Monthly premiums are low for short term life insurance policies. This is due to the fact that insurers know that policy holders will only be covered by the insurance company for a specified time period. Therefore, the premiums are lower than that of normal insurance policies. It is hence a reasonable way to save costs while one is waiting for a new insurance policy to kick in.
