Reasons for Choosing Temporary Health Insurance

If you go through a significant change in your life, you may find it affects your health coverage. In these cases, a temporary health policy can protect you from major medical expenses until you obtain permanent coverage.

Temporary health policies do not provide the full-bodied coverage found in most health plans. They’re not meant to do so. Instead, these plans offer affordable coverage for urgent medical needs for a short time. The Affordable Care Act (ACA) allows temporary coverage for up to a year.

You might find temporary health insurance an attractive option if:

1) You change jobs, and your new insurance doesn’t start until a probationary period has passed.

2) You take early retirement before qualifying for Medicare.

3) You lose your job and don’t want to pay the additional costs for COBRA coverage or health plans available through ACA exchanges.

4) You can’t afford the coverage you want, but expect your finances to improve in a short time.

There are drawbacks to temporary coverage. You may need medical treatment that lasts longer than the policy, with the remaining expenses not covered. Also, preventive care and wellness services are generally not covered.

Sagen & Associates can help Wisconsin residents review and update their health coverage to meet the needs of individuals and families. Learn more by contacting us.