Temporary Health Insurance to Cover Insurance Gaps
Did you just graduate from college and you’re looking for that perfect grown-up job or do you want to spend time finding yourself on Bourbon Street? Maybe you’re in between jobs and need something to cover a gap in insurance coverage. Perhaps, you decided to retire a few months shy of being eligible for Medicare.
Louisiana short term health insurance is valuable temporary health insurance that covers gaps in your coverage for these situations:
- Recently graduated from college
- Laid off or currently in between jobs - an alternative to COBRA
- Pending employer-sponsored health insurance coverage
- Turned 26 and lost coverage from parent’s insurance
- Retired, but not yet 65 or eligible for Medicare
How Long Should I Use Short Term Health Insurance?
Short term insurances should only be used as a temporary solution (between 1 to 12 months) and it’s important to note that they do have limitations. For example, short term health insurance will not cover pre-existing conditions. If you have received treatment for a medical condition in the past few years and are looking at short term insurance because you have found yourself out of work, COBRA may be a better option. By purchasing a short term option, it may make you ineligible to utilize your COBRA benefits after the fact.
Short term health insurance plans do not meet the minimum requirements set by the Affordable Care Act, so you may be subject to a tax penalty at the end of the month if you do not seek additional insurance. You will also not be eligible for government financial assistance if needed. Short term health insurance will not cover preventative care such as immunizations or physicals. It also does not cover injuries or illnesses that occur outside the United States.