Short Term Health Insurance
Short Term health insurance, sometimes called Term health insurance or Temporary health insurance, is designed to bridge gaps in your health care coverage during times of transition.1
And if you’ll pardon the pun, you’ll find no “shortage” of information online telling you what Short Term Medical insurance isn’t or what it can’t do for you. But for many people, and for many situations, the best Short Term health insurance plan they can find may just be the right solution.
Flexible and Fast
We know that the life of you and your family can change quickly. That’s why our Short Term Medical insurance plans, underwritten by Golden Rule Insurance Company, provide you with the following flexibility:
- Start your coverage fast, as soon as the next day in many cases
- Drop your coverage without penalty
- Choose from a range of available deductible amounts
- Apply for another term of coverage if needed2
And with your Short Term Medical insurance coverage starting as soon as the next day after you apply, you can get the security of that coverage fast, right when you need it.
Who Should Consider Short Term Insurance Plans?
Short Term health insurance plans make sense for people who are:
- Rolling off their parent’s insurance
- In-between jobs
- Without health insurance, have missed Open Enrollment and do not have a qualifying event for Special Enrollment
- Waiting for your Affordable Care Act (ACA) coverage to begin
- A college student or just out of school
- Waiting for benefits to begin at a new job
- Waiting for Medicare
- Needing a temporary alternative to COBRA insurance
- Losing coverage following a divorce
- Under 65 and in good health
Short Term Insurance Plans and the ACA Federal Tax Penalty
Short Term health insurance plans do not meet the minimum essential coverage requirements under the Affordable Care Act (ACA), also known as Obamacare, and may result in a tax penalty. They are designed solely to provide temporary health care insurance during unexpected coverage gaps. To avoid the risk of penalty, apply for an ACA health insurance plan as soon as you qualify.