While most people in Texas think “bigger is better,” there are times in life when going small is the answer. Such is the case when you are between jobs, gearing up for retirement, or just aged-out of your parents’ insurance plan. During these times, it makes sense to go small – or a least smaller – with short term medical insurance.
Designed to fill the gaps in health insurance coverage when you are between long term medical insurance plans, short term medical insurance protects you against major medical expenses, including unexpected accidents or unforeseen illnesses. Short term health insurance plans do no typically cover preexisting conditions or preventative care. Rather, short term plans are designed to protect you against major medical expenses in between long term coverage.
Short term medical insurance plans can include coverage for anywhere from a few days to up to several months. Depending on which package you choose, many short term medical insurance plans can be tailored to cover an exact amount of days you need. For instance, imagine you just changed jobs and your new employer doesn’t offer health insurance until you have been employed for 60 days or more. You can purchase a short term medical insurance plan that covers you for the exact number of days from when your previous health insurance coverage ended and your new medical insurance plan goes into place.
Another perk of short term medical insurance is that the application process is typically much simpler and quicker than with regular health insurance plans. Thinking of retiring this summer but you are not eligible for Medicare until the fall? No problem – short term medical coverage can fill the gap so you can enjoy your first few months of retirement without the worry of an unexpected medical expense arising. Should you need coverage for preexisting conditions and/or preventative care during your lapse in long term health insurance coverage, you might consider COBRA coverage from your previous employer.
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