Non-Obamacare health plans offered off of the health insurance Marketplace are known as short-term health insurance.
One of the biggest advantages of short-term health insurance is that it can be purchased even outside of Open Enrollment Period. These insurance plans are available directly through some insurance companies and online insurance sellers. The disadvantage to these plans however, is that they offer much less comprehensive coverage than ACA-compliant plans. Some states have even banned the possibility of short term loans. So make sure that your state has not dones so if you are interested in a short term plan. Shop health insurance plans including short term plans here, at BenaVest.com
Although short term plans are available throughout the year it is still recommended you check out ACA compliant plans. They may be available to you even outside the Open Enrollment Period.
What do short term plans cover?
Plans that short term health coverage may commonly include:
- Unexpected injury
- Some inpatient and outpatient hospital services
- Emergency room visits
- Some testing related to preventative care
Short term coverage however, will normally not include:
- Maternity care
- Mental health
- Preventative care
- Prescription drugs
- Any pre-existing conditions
- Short-term plans may also refuse to cover you based on the care you have used under their plan
ACA compliant plans are mandated to cover all of the above subjects.
Can short term health insurance be purchased on the Marketplace?
The Marketplace does not have any short term coverage plans available in it because short term plans simply do not meet the standard of the ACA. The Marketplace offers ACA compliant plans that are available during the Open Enrollment Period, and Special Enrollment Period.
Is short term health insurance more expensive than Obamacare (ACA) plan?
Short term plans are not cheaper than ACA plans. On average they cost $107 per month for individuals and $258 a month for families but they do not offer tax credits, unlike ACA compliant plans. ACA plans offer tax credits to reduce the cost of health insurance in most cases. In other cases, ACA plans offer savings from copayments, coinsurance, and deductibles.
For more information on insurance plans look here.