Health insurance is a divisive issue in the United States. On the one hand, it is very difficult to get good quality health care without insurance, but on the other, some families can’t afford to pay for health insurance. It’s a real dilemma.
There is no doubt that health insurance is expensive, but if you can’t afford a full health care insurance policy or you have missed the enrolling deadline, a short-term policy from Pivot Health could be the solution. So, what are the pros and cons of short-term medical insurance policies and are they right for you?
There are many advantages to purchasing short-term health insurance.
Short-term health insurance is a lot cheaper than a comprehensive plan. Monthly premiums are a lot lower, but you still have access to a wide range of medical benefits. The cost advantage is one of the major selling points of short-term health insurance, especially for younger people, as they don’t need comprehensive health insurance cover because they are fit and healthy. Many plans also keep costs down by offering video consultations with a doctor who is able to write a prescription based on your symptoms.
Large Network of Practitioners
When you take out a short-term health insurance policy, you are not restricted to a specific network of health care practitioners. You can see any doctor you like, which is useful if you need to travel through work.
You can get an instant decision when you apply for short-term medical insurance. Most plans come into effect within 24-hours of an application being submitted, so if you need treatment for an ailment, you won’t have to wait too long to see a doctor.
Short-term health insurance is ideal for people who only need coverage for a few months. For example, if you have just started a new job, but are not yet eligible to join your employer’s health insurance scheme, a short-term policy will tide you over. Short-term health insurance can also be useful for international students, seasonal employees, people between jobs, and college graduates.
It’s not all plain sailing and there are some disadvantages attached to short-term health insurance.
A short-term health insurance plan will not cover you for any pre-existing conditions. Therefore, if you have diabetes, you won’t be able to claim for any complications because of your diabetes.
Serious Health Problems
If you were unlucky enough to be diagnosed with heart disease, cancer, or any kind of serious illness, you would be better off with a comprehensive medical insurance policy. Short-term policies are not robust enough to cope with major illnesses.
Obamacare Tax Penalty
Having a short term insurance plan won’t shield you from the Obamacare tax penalty; you will still have to pay the fine for not having comprehensive medical insurance.
Short-term medical plans are not for everyone, but if you are young, healthy, and don’t need comprehensive cover, they definitely tick a lot of boxes.