Speak to an advisor

888-258-6270
Is Short Term Health Insurance Enough? 2 Plans to Supplement Your Temporary Benefits

Is Short Term Health Insurance Enough? 2 Plans to Supplement Your Temporary Benefits

Posted Dec 30, 2015 by Jenifer Dorsey

 

Are you in between Obamacare plans? Maybe you are thinking about enrolling or have already enrolled in short term health insurance coverage, which is also known as temporary health insurance. This can be a smart move because it means having some financial protection from potentially high medical bills until your next major medical policy takes effect.

While short term health insurance plans can be helpful when you are temporarily uninsured, you may find value in additional coverage that helps lower what you pay out of pocket for healthcare. Here are two types of supplemental health benefits that may pair well with your short term health insurance benefits—and you can even keep them once you have ACA-compliant major medical insurance: 

1. Telemedicine

Short term health insurance plans provide benefits for a range of unexpected healthcare expenses. Much like major medical insurance, short term policies include a deductible that must be met before the plan starts paying benefits.

As such, short term coverage tends to be especially helpful with larger healthcare costs—although, many plans do include benefits for doctor office visits. When you need medical attention for less serious conditions like a sinus infection, pink eye or allergies, you may find it beneficial to have a telemedicine plan.

Telemedicine provides over-the-phone health consultations with licensed physicians—anytime of day, any day of the year, wherever you have access to a phone. The Telemedicine package available through healthedeals.com starts at $12.50 per month for an individual.[1]

Learn more about Telemedicine

2. Medical gap insurance

Unexpected healthcare expenses can cause financial strain for many households, whether they have an Obamacare plan or short term coverage. Medical gap insurance is a type of supplemental insurance coverage that offers some financial relief when you incur large medical bills.

Medical gap plans such as Metal Gap and Metal Gap 2, which are available through healthedeals.com, pay a lump sum benefit when a covered accident or illness occurs. You can use the payment toward your short term or major medical insurance deductible, copay, coinsurance, household and travel expenses, childcare and more. Whether you break a leg or get diagnosed with a critical illness while in between Obamacare plans, medical gap insurance can help with these out-of-pocket expenses.

Visit healthedeals.com to learn more about Metal Gap and Metal Gap 2. While you are there, get a quote to determine which products are available in your state.

Explore supplemental options

If you have questions or need assistance selecting supplemental coverage, call the number at the top of your screen.

 


 

[1] Based on healthedeals.com quote from Dec. 18, 2015.

SHORT-TERM MEDICAL EXPENSE (STM)
THIS IS A SHORT TERM HEALTH BENEFIT PLAN THAT IS NOT INTENDED TO QUALIFY AS THE MINIMUM ESSENTIAL COVERAGE REQUIRED BY THE AFFORDABLE CARE ACT (ACA). UNLESS YOU PURCHASE A PLAN THAT PROVIDES MINIMUM ESSENTIAL COVERAGE IN ACCORDANCE WITH THE ACA, YOU MAY BE SUBJECT TO A FEDERAL TAX PENALTY. ALSO, THE TERMINATION OR LOSS OF THIS POLICY DOES NOT ENTITLE YOU TO A SPECIAL ENROLLMENT PERIOD TO PURCHASE A HEALTH BENEFIT PLAN THAT QUALIFIES AS MINIMUM ESSENTIAL COVERAGE OUTSIDE OF AN OPEN ENROLLMENT PERIOD. THIS POLICY INCLUDES A PRE-EXISTING CONDITION EXCLUSION PROVISION.

Telemedicine
The The Telemedicine plan is NOT insurance. The plan is not insurance coverage and does not meet the minimum creditable coverage requirements under the Affordable Care Act.

© 2015 Teladoc, Inc. All rights reserved. Teladoc and the Teladoc logo are trademarks of Teladoc, Inc. and may not be used without written permission. Teladoc does not replace the primary care physician. Teladoc does not guarantee that a prescription will be written. Teladoc operates subject to state regulation and may not be available in certain states. Teladoc does not prescribe DEA controlled substances, non-therapeutic drugs and certain other drugs which may be harmful because of their potential for abuse. Teladoc physicians reserve the right to deny care for potential misuse of services. Teladoc phone consultations are available 24 hours, 7 days a week while video consultations are available during the hours of 7a.m. to 9p.m., 7 days a week.

METAL GAP and METAL GAP 2
THIS PLAN IS NOT CONSIDERED TO BE MINIMAL ESSENTIAL COVERAGE AS DEFINED BY THE PATIENT PROTECTION AND AFFORDABLE CARE ACT (ACA). ENROLLING IN AND MAINTAINING THIS PLAN WILL NOT EXEMPT YOU FROM THE SHARED RESPONSIBILITY PAYMENT (TAX) THAT MAY APPLY IF YOU DO NOT HAVE PLAN WITH ACA-COMPLIANT COVERAGE.

About The IHC Group
The IHC Group is an organization of insurance carriers and marketing and administrative affiliates that has been providing life, health, disability, medical stop-loss and specialty insurance solutions to groups and individuals for over30 years. Members of The IHC Group include Independence Holding Company (NYSE:IHC), American IndependenceCorp. (NASDAQ: AMIC), Standard Security Life Insurance Company of New York, Madison National Life Insurance Company, Inc. and Independence American Insurance Company. Each insurance carrier in The IHC Group has a financial strength rating of A- (Excellent) from A.M. Best Company, Inc., a widely recognized rating agency that rates insurance companies on their relative financial strength and ability to meet policyholder obligations. (An A++ rating from A.M. Best is its highest rating.) Collectively, the companies in The IHC Group provide insurance coverage to more than one million individuals and groups. For more information about The IHC Group, visit www.ihcgroup.com.

About IHC Specialty Benefits, Inc.
IHC Specialty Benefits, doing business as Health eDeals Insurance Solutions is a full-service marketing and distribution company that focuses on small employer, individual and consumer products. Health eDeals markets products through general agents online, telebrokerage, advisor centers, private label and directly to consumers. For more information about Health eDeals visit www.HealtheDeals.com.