Short term health insurance (STM), also referred to as temporary health insurance, is a type of medical coverage that is available for shorter durations of time, such as up to three months. Temporary insurance plans have more restricted coverage than major medical but also can have a lower premium.
Covered expenses for temporary health insurance plans generally include the high-dollar, unexpected care and treatment you may require as a result of an illness or injury – from a serious medical event like a heart attack or stroke to a broken leg or doctor’s office visit due to illness.
Remember, these plans are highly customizable (that’s one of the perks!). The chart below describes benefits that may be covered with short term medical policies.
Individual insurance plans vary, so you’ll want to read the plan details closely to validate the coverage and benefits you’ve selected and what exclusions apply.
Hospital room and board
Emergency room – anesthesiology and surgical care
Diagnostic services – X-rays, laboratory tests and analysis
Ambulance and surgical services
Doctor visits
Sport-related injuries
Injuries or illness related to participating in extreme or dangerous activities
Medical costs resulting from injury from riding an ATV (dirt bike, snowmobile, go-cart), racing with a motorcycle, boat or any form of aircraft
Treatment of pre-existing conditions
Any medical expenses incurred prior to the effective date or after the expiration date of your policy
Tobacco, drug, and alcohol-related treatment expenses
Here are a few of the pros and cons to consider when you’re thinking about signing up for a short term health plan.
| Plan Type | Unsubsidized Premium | Deductible |
|---|---|---|
| Connect STM Short Term Plan* (HealtheDeals.com) | $96.00 | $5,000 |
| Lowest Cost Bronze ACA Plan** | $317.93 | $7,900 |
| Short Term Plan Savings: | $221.93 | $2,900 |
| What They Offer | Short Term Medical Plans | Major Medical |
|---|---|---|
| Coverage Type | Temporary, catastrophic coverage | Long-term, minimum essential coverage including the ACA’s 10 essential health benefits |
| Coverage Length | 30-364 days (duration limits vary by state) | Guaranteed Renewable |
| Premium Cost | Typically less than an unsubsidized ACA plan; cost varies by plan selected | Typically more than a short term health plan, but subsidies may reduce cost; cost varies by plan selected |
| Pre-Existing Conditions | Not typically covered; dependent on plan selected | Covered by law |
| Preventive Care Benefits | Not typically covered; dependent on plan selected | Covered by law |
| Enrollment Period | Year-round enrollment; plans start as early as the day after your application is accepted | During the annual open enrollment period, or a special enrollment period when eligible |
| Subsidies Available | No | Yes |
| Guaranteed Issue | No | Yes |
Speak to a licensed health insurance agent during business hours for help understanding your options and enrolling in coverage.
Footnotes
