With most short term health insurance policies you can be covered the day after you submit an application. These policies are great for covering individuals or families when you have gaps in your health care coverage. Weather you have recently been laid off, are in between jobs, are just coming off your parents health coverage or fresh out of college, these policies can provide you next day medical care. Depending on the insurance carrier the deductibles range from $250 to $4000. Most short term plans will waive the deductible in the case of an accident; this provides you with immediate coverage in an emergency situations.

Short term health plans usually do not require an underwriter to examine your medical records. You will be asked a series of health questions on the application to determine eligibility. Either you will be accepted or declined shortly after you submit the application. You can choose to elect coverage anywhere from 30 - 185 days which can be paid up front or monthly (it's usually cheaper to pay up front). Most short term carriers will allow 2 consecutive 6 month terms in which you have to re-apply for the second policy term. If you happen to obtain a long term individual plan you can cancel the short term and easily coordinate the effective date with your new coverage.

There are usually no preventative care benefits (or very little) offered with a short term plan. Remember, these plans are meant to cover you or your family for a short period of time. They will control your out of pocket costs in the case of an emergency although it's recommended to get some type of long term coverage to avoid being left without coverage. If you happen to be on a short term health plan for 6 months and have an accident during your policy term, and require prescription drugs, you may not be able to qualify for the short term coverage again or may be left without coverage for pre-existing conditions. This will leave you paying the full out-of-pocket cost (until you satisfy the pre-existing exclusion period) even though there was no lapse in coverage. Or if you don't qualify for coverage at all (due to a major accident or diagnosis) you will be subject to all out of pocket expenses.

Individual and Family Health Insurance

If you don't have health insurance benefits offered through your employer, you need to take a look at the individual and family plans. Once you are approved for an individual plan you may stay on it as long as you like; provided you can afford the monthly premium and the carrier doesn't sunset that plan. It can be very easy to do a plan downgrade if you policy becomes too expensive or if you aren't utilizing the plan benefits. If you would like to switch to another carrier you will need to fill out another application and see if you qualify. It's important to remember to stay on your current coverage until you approved with the other carrier.

Many people like their first dollar office visit co-pays and physicals offered before they have to satisfy a deductible. Individual and family plans allow you to receive preventive, primary care, specialist and prescription drug co-pays before the calendar year deductible. Some will even offer co-pays for x-ray and lab, inpatient surgery, and out-patient surgery, however those are typically HMO plans.

With all individual and family plans, you will be subject to medical underwriting. This can take up to a month or sometimes longer depending on how long it takes the insurance company to receive medical records. If you are currently uninsured it is a good idea to apply 30 - 45 days before the effective date you are looking to get. You may want to consider enrolling in a short term health plan during the underwriting process if you don't already have other coverage. Individual and Family plans don't cover you during medical underwriting; the policy must be approved before you can receive benefits.

With many different health plans available, it helps to find a local agent to help sort through the many plan options. At no extra cost, the agent is paid by the insurance company to asses your needs and help you obtain an affordable health plan that fits your current lifestyle.