Comparing Short Term Health Insurance to Individual and Family Major Medical Plans
Updated: 2 days ago
What is Short-Term Health Insurance?
Short-Term Health Insurance, also referred to as Short-Term Medical, presents an excellent alternative to bridge gaps in health insurance coverage during transitional periods. These plans feature flexible coverage options ranging from 30 days to 36 months per policy and can be purchased in policy bundles to provide continuous coverage without the need for reapplication.
Short-Term health plans are cost-effective and can cost up to 70% less than non-subsidized individual major medical health insurance plans in Nebraska. Furthermore, these plans offer customized benefits to address specific needs, and can start as soon as the next day without an annual enrollment window.
While Short-Term health insurance plans may have some exclusions, such as limited preventive care coverage and no coverage for pre-existing conditions or certain health services such as maternity or mental health, the enrollment process is straightforward and only involves answering 5-10 health-based underwriting questions to establish eligibility. In summary, Short-Term health insurance is a valuable tool that can aid in maintaining
continuous coverage during transitional periods.
What is Major Medical Health Insurance?
Major medical health insurance is a highly beneficial type of insurance offering extensive coverage for a wide range of medical expenses. It is the most popular form of health insurance in the United States, typically provided by employers or government programs like Medicaid or Medicare. For those who don't have access to group health insurance, individual major medical insurance is available for purchase.
Individual major medical coverage provides similar benefits to group health insurance and can be obtained via the marketplace, a participating health insurance company, or directly from Health & Life Insurance Pros. These plans offer essential health benefits and consumer protections, including coverage for pre-existing conditions with no waiting period and 100% coverage for preventive care.
Thanks to the Affordable Care Act, a special enrollment period is now available for individuals to sign up for major medical plans through the healthcare.gov marketplace or directly from a health insurance company.
Now, Which Coverage is Right for Me?
At Health and Life Insurance Pros, we understand that finding the right insurance can be overwhelming, which is why we're here to help.
Our extensive experience enrolling individual clients in Nebraska has taught us that the best place to start is by exploring major medical insurance options available on the health insurance marketplace. By assessing your household size and income, we can determine your eligibility for subsidies. We're proud to say that approximately 70% of our clients qualify for significant subsidies that significantly reduce the cost of major medical plans.
In fact, some clients even qualify for zero-cost Bronze plans, which we highly recommend enrolling in when possible. If you need coverage for pre-existing conditions but don't qualify for a subsidy, we typically recommend enrolling with a major medical health insurance company off-market, at full cost.
For those who don't qualify for a marketplace subsidy or don't require pre-existing condition coverage, we also offer Short Term health insurance plans as an affordable alternative. While short-term health plans aren't intended to be a long-term solution, they can be an excellent option for many consumers.
At HLIP, our team is dedicated to helping you find the right insurance for your unique situation. Please contact us today at (402) 204-8248 for a no-obligation health insurance quote.