Will Short Term Health Insurance Count in the Affordable Care Act?

Will Short Term Health Insurance Count in the Affordable Care Act?

Will Short Term Health Insurance Count in the Affordable Care Act?

Under the Affordable Care Act, will your short term health insurance be compliant with the law?

Let’s get right down to it: your short-term health insurance will not help you avoid the fee for not carrying health insurance. The law very clearly states that a short-term health plan is not ObamaCare-compliant. You should also not expect this law to change anytime soon (no matter who is elected President). Does that mean, however, that short-term health insurance has no place in the medical world, thus, has no value? Of course not. Short term health care can be an inexpensive option for those who are exempt from the fee due to income and those who have missed open enrollment.

What Is Short-Term Health Insurance?

Short-term health insurance is a temporary health option that is meant to provide coverage in between other insurance options. This coverage, like other kinds of health insurance, is meant to protect against accidents or major illnesses to which you may fall.

  • Short-term health plans are non-renewable.
  • Short-term health plans don’t have to cover pre-existing conditions, so you can be denied coverage for something that many not be your fault.
  • Short term coverage doesn’t prevent you from being denied payment or dropped when you are sick if you didn’t disclose your preexisting medical condition at the time of application.
  • Short-term health plans aren’t guaranteed; you can be denied coverage for non-health reasons.
  • Short-term health plans also lack many other protections offered by the Affordable Care Act.

Having the right health insurance policy can help to make sure you have the coverage you need to stay healthy and avoid the fees. Contact the experts at Employee Benefit Plans Inc. in Greenwood Village, Colorado for all of your health insurance needs.