{"id":10506,"date":"2024-09-23T22:00:00","date_gmt":"2024-09-23T22:00:00","guid":{"rendered":"https:\/\/www.freeway.com\/knowledge-center\/?p=10506"},"modified":"2024-09-24T01:34:08","modified_gmt":"2024-09-24T01:34:08","slug":"is-short-term-health-care-more-affordable","status":"publish","type":"post","link":"https:\/\/www.freeway.com\/knowledge-center\/health-insurance\/is-short-term-health-care-more-affordable\/","title":{"rendered":"Are Short-Term Health Care Plans More Affordable?\u00a0"},"content":{"rendered":"\n
When shopping around for medical policies, you may come across short-term health plans. These policies are a type of health insurance<\/a> designed to give you temporary protection when you do not have another policy in place. But is short-term health insurance good, and is it more cost-effective than standard health coverage? We break down these key questions in this comprehensive guide. <\/p>\n\n\n\n Short-term health coverage, also known as short-term, limited-duration insurance (STLDI), is a special type of plan designed to bridge a gap in your health coverage. It does not usually cover as much as a traditional plan, but it can help tide you over until you can get standard protection through the government healthcare marketplace or your employer. <\/p>\n\n\n\n How long can you use a short-term policy<\/a>? After Sept. 1, 2024, the maximum length of these plans will be three months, with a potential one-month extension. Some states already have shorter limits in place, such as Delaware and Maryland. <\/p>\n\n\n\n These policies do not qualify as traditional health insurance plans, and they are not regulated by the Affordable Care Act<\/a>. Instead, states set their own guidelines for these limited-term policies. As a result, several states<\/a> don\u2019t offer these plans at all, including: <\/p>\n\n\n\n If you do live in a state that offers limited-duration policies, you can expect some differences compared to standard insurance. For starters, you will need to contact a licensed broker or insurance agent to find temporary plans. From there, you can find policies with a wide range of deductibles, premiums, and co-pay costs, so you can secure an option that works with your budget. <\/p>\n\n\n\n The plans can cover different medical needs, including primary care visits, emergency care, hospitalizations, lab tests, and prescriptions. However, they are not required to meet the same minimum care standards as ACA plans, so covered procedures can vary significantly from policy to policy. <\/p>\n\n\n\n There are several situations where you may want to consider a temporary medical plan. If you have a coverage gap for any reason but still want protection, a limited-term policy may be your main option to decrease your healthcare costs. Here are a few situations where you might not have a policy in place and decide to pursue a limited-duration plan: <\/p>\n\n\n\n Limited-duration policies can be an affordable option if you are young and healthy but still want some assistance with healthcare costs. It also has added benefits, such as the ability to access a wide network of doctors, because many private STLDI plans don\u2019t adhere to provider networks. Plus, your plans can start right away, so you do not have to wait for a qualifying event or an open enrollment period.\u00a0<\/p>\n\n\nDefining What Short-Term Health Insurance Really Is<\/strong> <\/h2>\n\n\n\n
How Does Short-Term Insurance Differ From Standard Policies?<\/strong> <\/h3>\n\n\n\n
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Weighing the Advantages: When Does It Make Sense?<\/strong> <\/h2>\n\n\n\n
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