What is short term medical insurance and why do I need it?
In a nutshell, short term medical insurance is a great option for individuals living on limited income. It’s also an affordable option for people who have lost their health benefits, are getting divorced or just going through a temporary lifestyle change that leaves them without health insurance. In other words, short term medical can be an affordable health insurance option compared to many health insurance plans.
So what kind of short term health insurance is available?
Unexpected accidents can occur at any time, which can lead to potential financial hardship if an individual is uninsured. Short term insurance gives individuals the option to have some coverage at a low monthly cost.
Healthedeals.com offers short term health plans with different copays and deductibles to meet your financial and insurance needs.
All our plans are for short term insurance situations that last anywhere from 30 days to 12 months. Eligibility for coverage can begin as soon as the day after you apply.
With several different payment options, and a discounted rate if paid for altogether, finding the right plan is simple. Child-only coverage is offered in each plan for young persons beginning at age two.
The healthedeals.com Secure Short Term Medical (STM) plan has deductibles of $1,000, $2,500 or $5,000. The STM plan offers no copay and the insured person will pay the amount of the deductible before insurance begins to contribute. From there, rates of either 80/20 or 50/50 apply to the coinsurance and stop-loss maximum which, is $10,000.
The Secure Saver plan offers consumers deductibles as low as $250 to $1,000. There is a $50 physician office visit copay and a 100 percent coinsurance value.
Our Secure Lite plan has deductibles of $500, $1,000 $2,500 or $5,000. The Lite plan pays $25 per office visit up to four visits per coverage period. After the deductible, the Lite plan covers 80/20 or 50/50 up to the $10,000 stop-loss maximum.
The maximum benefit per covered person is $2 million for the Secure Short Term Medical and Secure Saver plans per covered period. The Secure Lite maximum benefit per covered person is $750,000.
Find out more about health insurance options at healthedeals.com.
Glossary:
Short term medical insurance is temporary health insurance that protects you from an unexpected injury or illness when you are between permanent health plans.
A copay is a payment by the insured person each time a medical service is accessed.
A deductible is a portion of expenses that must be paid before the insurance provider pays.
Health insurance is a plan of risk management. Insured persons are given an opportunity to share the costs of possible economic loss through an insurance company.
Coinsurance is a provision in which the insured and insurance company share covered losses in an agreed proportion.
Maximum benefit is the maximum dollar amount our insurance plan will pay toward the cost of the medical care incurred by an individual or family in a specified policy year.
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