2019 Best Short Term Medical Insurance in Florida
What is Short-Term, Limited-Duration insurance?
Short-term insurance was primarily designed to cover short term gaps in coverage.
With the return to a longer initial coverage term of “less than 12 months” (no more than 364 days), consumers may determine that it is coverage that will work for their health insurance needs and their pocketbook.
Short-term policies are not for everyone, so each consumer should review a short-term policy carefully to determine if the coverage meets their health care needs.
Who Accepts Short Term Medical Insurance
Short-term insurance is accepted by many doctors across the U.S. Like other forms of health insurance, short-term health insurance may rely on pre-determined healthcare provider network.
For short-term health insurance plans that have a pre-determined healthcare provider network, medical treatment by an out-of-network healthcare provider could result in significantly higher out-of-pocket costs. The same holds true for traditional health insurance plans. If you receive non-emergency treatment from an out-of-network doctor or hospital, the health plan may deny payment for the service or require you to pay a higher percentage of the costs than you would have for the same service delivered by an in-network provider.
Short-term health insurance is not required to comply with the Affordable Care Act’s coverage requirements. Consequently, medical services such as preventive care (e.g. routine physical exams), maternity care, and the treatment of mental illness or substance abuse may be excluded from coverage.
Is Short Term Medical insurance coverage the same as that required by the Affordable Care Act?
No – Short-term insurance coverage is not required to comply with the requirements in the Affordable Care Act (ACA).
Are pre-existing conditions required to be covered under a short-term medical insurance policy?
No – Pre-existing conditions can be excluded from a short-term policy. This is a condition for which medical advice or treatment was recommended by or received from a provider of health care services within a certain time frame (typically the last 5 years) before the effective date of the coverage.
Insurance companies may provide coverage for a pre-existing condition, but with limitations. Carefully read the policy, paying close attention to pre-existing conditions and exclusions language.
Are there other potential coverage limitations?
Yes – In addition to pre-existing conditions there may be exclusions or limitations regarding health benefits (such as hospitalization, emergency services, preventive care, prescription drugs, and mental health and substance use disorder services). Your policy might also have lifetime and/or annual dollar limits on health benefits and you may also be responsible for co-pay and deductible amounts.
An insurer may ask for a health history and perform underwriting of the policy which could impact the benefits covered, the cost of the policy, or even whether your application is approved.
4 Best Buying Tips Short Term Medical Insurance
- Check with your insurance department to confirm the plan is approved for your state.
- Read the fine print in the full plan documents before you enroll.
- Understand how the plan defines preexisting conditions and how that affects your costs and coverage.
- Consider if can you afford to pay out of pocket if the plan is cancelled or you need care not covered by the plan.
Where can I purchase a short-term medical insurance policy in Florida?
Short-term coverage may be purchased directly from an insurance company or from an insurance producer offering the product in Florida.
Insurers and producers must be authorized or licensed in Florida.
Short-term insurance is not available on the exchange where ACA compliant coverage is purchased.
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