Short Term Health Insurance and Its Coverage Benefits
November 11, 2010 | In: Health Insurance
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By now, many of us must have come across the term short term health insurance, but how many actually know what the term means? The term short term health insurance defines an insurance plan that covers specific medical expenditure and provide health coverage for those who need it within a short, specific duration of time. Advantages of these plans include its flexibility as well as its low premiums that make them attractive to certain groups of individuals and families. Nevertheless, one should understand that when you pay less, your coverage range becomes limited as well. Thus, it is imperative that you know how much exactly you would be covered before you proceed to purchase one of these temporary healthcare insurance plans from the many health insurance companies available today.
When we speak of short term medical insurance, what is specifically covered by these health insurance plans? The common plan (offered by most of the insurance companies in the market today) would usually cover:
1) Doctor/ Physician consulting and service fees – the plan usually includes coverage for inpatient/outpatient consulting charges when you visit your doctor. The amount of coverage is determined and stated clearly in your policy
2) Charges for laboratory examinations and tests – examples would include X-rays, mammography, magnetic resonance inspection (MRI), Pap tests as well as blood tests among others. Ensure that details for these are included in the policy as well
3) Hospital/ clinical charges – the policy would offer coverage for ward or room charges, relevant service fees for operations, anesthesia, ICU/ ECU (if applicable) as well as other similar charges. You can determine what you want in your policy, so make sure you choose wisely as this portion would normally be the most costly among all expenditure in the case of an accident/ sickness
4) Medicine/ prescriptions expenditure – short term plans normally offer coverage for prescriptions as well, nevertheless only for the duration of your policy
5) Ambulance/ other transportation costs – this portion is normally mandatory in all short term and long term healthcare insurance plans
Understanding what is covered in your short term medical insurance plan would help you decide better when you select what you need in your policy. Choose wisely, and invest smartly in a comprehensive plan that would secure your health, albeit for a short period of time.
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