Short Term Health Insurance in Michigan
Many times, a person will need a new health insurance policy for only a short time. This need may arise because a young person no longer meets the requirements to be covered under the parent's health insurance. A student may be older that the cutoff age for coverage or may have fallen below the required number of hours enrolled to be covered. (Many family policies require that the student is enrolled full-time or for a minimum of 12 hours.) Other individuals need a short-term health insurance plan because of international travel, because they will be uninsured between graduation and when a future employer's benefits will take affect, or they are between jobs that would ordinarily provide coverage.
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There are short-term options available for these individuals, including COBRA coverage through a former employer or parent's plan. Premiums for these continuation of coverage policies can be paid monthly until the individual finds a more permanent policy. COBRA coverage is expensive, however. There may be more economical short-term plans available for you, depending on the situation.
Details about Short Term Health Insurance Plans
Highlights of short-term health insurance coverage are below:
- Choice of deductible amount, including $250, $500, $1,000, or $2,500.
- Choice of monthly payments or one payment to include the length of coverage, if that time-span is known.
- Benefit periods of between a month and a year, with most policies lasting six to twelve months.
- Coverage for prescriptions is available
- Excludes coverage for pre-existing conditions going back as far as 36 months. Read the restrictions on coverage carefully.
- Coverage for doctor care, emergency services, surgery, out-patient and hospital care
- Does not usually cover routine care such as immunizations or physical exams. These policies are for an illness or injury that occurs during the time of coverage.
Short term insurance is for people who are healthy but need medical insurance coverage for a short time. Anyone with pre-existing conditions or who needs more than a policy which will mainly cover accidents or major illness would be advised to find other, more permanent insurance for their needs.
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