Short term health insurance, or short term medical insurance, is a type of insurance that protects you from high medical bills and helps you look after your health by being able to afford good quality health care. It is a type of health insurance, where you pay your premium each month and are then covered for any medical treatment you need. For example, if you break a leg and need x-rays and checkups, the insurance will cover it. If you are hit by a virus your insurance covers you for prescription drugs and doctors office visits.
The short term part of the insurance means it is health insurance for a short period of time. Usually when you take out medical insurance you do so over the long term, but it is not always possible to attain medical insurance long-term. There are circumstances where you need short term cover.
For example, short term health insurance is good for people in-between jobs, graduates who haven’t started working full time, people waiting to arrange employee health care, and those that work part time. You can buy the insurance for periods of between 30 days and a year. Before you buy, check the insurance covers all the usual benefits such as hospitalization, doctor visits, tests, ambulances, outpatient care and prescription drugs. Plans vary in terms of benefits. Compare prices online and match these prices against your wish-list of coverage.
Are you clueless about insurance and what it means to you? It pays to know a little about insurance before you buy so you can be sure you are getting the right policy for your needs, and also to make sure you don’t pay too much. Take a look at the insurance glossary here, or look online for definitions of the insurance policies you are looking to buy.