What Situations/Who is it Appropriate for:
Short term individual and family health insurance plans are a great alternative for people that are leaving group coverage and are looking for an alternative to the high costs of COBRA. It can also be used as a bridge policy, as an alternative to COBRA while you are waiting for your new group coverage to start.
People who do not qualify for subsidies, or whose subsidies are nominal when purchasing a plan through the marketplace, often take advantage of short term plans. The main reason is that the price is considerably lower, and the networks are much bigger and easier to use than the Affordable Care Act plans.
It is important to note that we never charge you for using our services, our commission for assisting you comes from the insurance companies. We act as a broker and run quotes with all of the major carriers guaranteeing you the best rate for the benefits that best suit your need.
THE MAIN ADVANTAGES OF THESE PLANS ARE:
- They are flexible and can cover you in between jobs, while you are away at college, or any temporary situation where they serve as gap coverage.
- The price can be considerably lower than traditional plans. So, if you are a healthy family that rarely goes to the doctor, has a minor preexisting condition, uses inexpensive medicine, you can save a great deal of money and come out much better financially while still being protected against a catastrophic event.
THE MAIN DISADVANTAGE OF THESE PLANS ARE:
- They do not cover preexisting conditions and they tend to be catastrophic in nature. Meaning they do not typically cover routine services like physicals, doctor visits, and their RX/drug cards are typically limited discount plans.
