Short Term Medical Insurance
Short Term Health Insurance plans have no open enrollment period restrictions, this means that you can apply at any time. Once your application has been approved, you can use your coverage as early as the NEXT DAY!
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A Short Term Health Insurance plan is much more affordable than an Affordable Care Act (ACA) plan. Since a short-term plan does not have to cap out-of-pocket costs like an ACA-compliant plan, it can be availed with higher deductibles and much lower premiums.
TOP OREGON SHORT TERM MEDICAL INSURERS:
Companion Life | Everest | Everest Prime | Independence American Life | LifeMap | LifeShield | National General | United Healthcare (Golden Rule)
Short-term Insurance is for you if:
- You missed the Open Enrollment period and you’re not qualified for Special Enrollment.
- You are waiting for your ACA (Affordable Care Act / Obamacare) coverage to start or if you’re unable to apply for ACA.
- You are looking for coverage to bridge you to Medicare
- You are in between jobs and waiting for benefits to begin at your new job
- You are turning 26 and coming off your parent’s insurance
- You are healthy and under 65
Benefits of Short-Term Medical Insurance:
- Fast coverage. You’re covered as soon as the day after you apply
- Lower premiums compared to ACA health plans
- No penalty when you drop the coverage (this may occur if you find a better alternative)
Are there limits on Short-Term Medical Insurance?
Yes. Always remember that every short-term health care policy must list these exclusions, so review them thoroughly. The usual exclusions include mental health treatment, prescriptions, pregnancy and injuries related to dangerous activities such as summit climbing, motocross, cliff diving among others. Individual services, like hospital stays, may also have dollar limits. For example, if the policy has a $3,000 limit on hospital stays, any amount beyond that is your responsibility. Some short term plans may offer up to one million dollars in coverage.
Short Term health insurance (also called Temporary health insurance) might be the best option for you! It can help fill that gap in your coverage until you have a longer-term solution. Moreover, the benefits covered by short term medical insurance are typically high deductible that can cover catastrophic visits related to emergency care. Meaning these plans may work well if you don’t require regular medical care, such as frequent visits to the doctor or costly maintenance prescriptions.
Remember: Pre-existing conditions are NOT covered and applies for all insureds, including those under the age of 19.
HEALTH PLANS IN OREGON
What happens when you reach your coverage period?
At the end of your coverage term, most insurers will allow you to re-apply for another short term health plan. These health insurance plans do not normally constitute an automatic continuation of your first plan. Apart from the fact that Oregon law limits these plans to covering people for just 90 days, it also requires a 60-day gap in coverage before a second 90-day plan may be issued
Short-term medical insurance plans are limited duration plans not subject to certain provisions of federal health care reform, including the provisions related to Essential Health Benefits, lifetime limits, preventative care, guaranteed renewability, and pre‐existing conditions. However, the good thing about short term health care coverage is that it’s more affordable than traditional health insurance.
Policies are limited by the Oregon law to a duration of no more than 3 months, including renewal periods. This means that in Oregon, new federal rules that allow for longer short-term plans do NOT apply.