If you don’t have health insurance or are between plans, take a look at Interim Coverage from Independence American Insurance Company, a member of The IHC Group. Interim means temporary, so it’s sometimes called short-term coverage or short-term medical.
Keep in mind that Interim Coverage isn’t the same as having an annual health insurance plan under the Affordable Care Act (ACA). For example, it doesn’t provide the same benefits and it won’t excuse you from tax penalties for being uninsured.
It does, however, offer you protection against unforeseen medical expenses such as accidents or hospitalization, as long as it’s not from a pre-existing condition. Check out the examples below to see if this might be a solution for you.
What to know about Arizona short term health insurance
A major appeal of short term health coverage is how affordable it is. The benefits covered by short terms plans are typically related to emergency care, meaning that these plans may work well for those who don’t require regular medical care, such as frequent visits to the doctor or expensive prescriptions. Although these plans do not have as many benefits as major medical health insurance, they provide some coverage that’s still affordable for many people.
Purchasing a short term health insurance plan in Arizona may make you ineligible for any guaranteed issue individual health plans commonly referred to as HIPAA Plans, or a COBRA plan if you recently lost coverage from a group health plan.
Also keep in mind that short-term health plans typically do not cover pre-existing medical conditions or many benefits that more comprehensive plans do, such as the minimum essential benefits that are required for qualified health plans under the Affordable Care Act. Furthermore, short-term plans generally do not guarantee renewal, so any conditions that develop while you are on a short-term plan may prevent you from renewing or may be excluded from your policy once you renew.
Due to those limitations, short term health insurance might not be for everyone. If you are seeking to save on health insurance costs in Arizona and only need minimal coverage, short term can be a good option, but make sure to take the risks and your own health care needs into account when it comes to choosing your health insurance plan.
There are many people in America today who are either unemployed, employed part-time or going to school and still desire health coverage. If you are healthy, then carrying short term medical insurance would be something to consider. It can be a viable option for people who are in transition or who can not afford COBRA. There are individual or family plans that cover you for as little as thirty days or for as long as six months.
It is important to understand just how these plans work, and what they do and do not cover. Most plans will let you visit any doctor or specialist you prefer but they will also usually require pre-certification. Due to the low cost of these plans, they generally do not cover items that fall under preventative care, such as physical exams, immunizations, and PAP tests. Since it is geared toward healthy individuals, pre-existing conditions are not covered in a short term plan nor are the treatments associated with those conditions. Also, if you have filed any claims under a previous policy, they may refuse to issue you a new one.
People 65 and under are eligible to apply for the insurance. If you have been denied for health coverage elsewhere, you most likely would not qualify. You also can not apply if you are currently insured. Once you are accepted, most will allow you to pay your premiums either up front or on a monthly basis. You can often receive a discount when you choose the single payment method.
Short term medical is definitely the way to go for people who need immediate coverage and either do not want to, or can not afford to, pay the usual high premiums. It is an option for most people, but sadly not for those who have pre-existing conditions. They are left to pay the high monthly rates for full coverage. For those who can, there are numerous companies who offer short term coverage. The competition for your business is fierce and allows you to compare many quotes and find the best possible policy at the best possible price.