Buying Short Term Health Insurance

Are you looking to buy health insurance?  If so, you know that buying health insurance is not often an easy or affordable thing to do.  Too often people find that premiums are simply beyond the household budget especially for those who are unemployed or who do not have health coverage as a benefit of employment.

If you cannot afford the more traditional, comprehensive health coverage on the market then you might want to consider buying short-term health insurance.

Here are some things to keep in mind when shopping for a policy:

Short-term health insurance is meant to protect you against accidents, injuries and illness. These are policies do not cover existing or pre-existing health conditions. Short-term health insurance does not provide for routine care such as an annual physical but instead is meant to help you cope with a health crisis.

Short-term health insurance is typically less expensive than a traditional, comprehensive plan. Of course, the short-term plan is less expensive as it covers only those situations which arise out of unexpected accident, injury or illness. You will find that most plans provide for hospitalization but may or may not cover needed home care services or medications. You need to review any plan to know exactly what you are buying.

Short-term health coverage is most often available for a period of 6 -- 12 months. It is not designed to be a long-term solution to your health insurance needs. Some policies are extendable after one period but your premium may be increased.

In some situations, the purchase of a short-term policy may limit your ability to obtain comprehensive insurance at a later time.  Don't let any insurance agent or salesperson pressure you into taking out a short-term policy until you know how these policies may impact your access to other coverage programs in the future.

When shopping for any insurance, it's best to check out the plan as well as the company selling the plan with your state insurance commissioner's office. Believe it or not, there are companies selling "fake" policies to unknowing consumers. You may find only when it's too late that your policy is not valid in your state or that the company has folded due to federal investigation or lawsuit.

With over 25 million uninsured Americans, you aren't alone in needing help to find and buy health insurance. To find insurance with a reputable company which is licensed and bonded in your state, contact your state insurance commissioner's office.

Don't wait for a health crisis to happen before shopping for health insurance or you'll find there is no option but to live with the consequences of a bad decision.

Information is for educational and informational purposes only and is not be interpreted as financial or legal advice. This does not represent a recommendation to buy, sell, or hold any security. Please consult your financial advisor.