Simply Explaining Insurance #72- Short term health insurance

The individual health insurance space is a confusing landscape to navigate. It’s important to consult a licensed professional when discussing options and plans. On this podcast I talk about a health plan that is available that many are unaware of. Short term health insurance.

These plans offer really nice coverage at an affordable price. They aren’t designed to replace the plans available that are compliant with the Affordable Care Act (ACA) or Obamacare, but that isn’t stopping some families for looking at this as an option.

All plans are going to differ from state to state and I can only speak to the ones that I am familiar with her in Idaho. The short term plans available in Idaho, are good for as little as one month and as long as 10 months. The deductibles are as low as $500. Some offer prescription coverage, and they are generally 80/20 plans. This means the insurance will pay for 80% of health expenses after deductible.

The main difference between these plans and plans on the ACA, is that these do not cover pre existing conditions. They also have a $1,000,000 lifetime max benefit.

Before considering purchasing a plan like this, I urge you to consult a licensed insurance professional and go over all of the benefits of the plan.