Short term health insurance may be the answer if you're a work-at-home mom (WAHM) transitioning home from a job, or are having trouble qualifying for or affording long term health insurance. It fills in the gap for coverage for WAHMs who no longer have health insurance because they left a job, or want short term coverage for other reasons. There are many benefits that make it a good option for you, whether or not you're in transition.
Longer terms make the costs of many individual and family health insurance plans high. When you first start out working from home, you may not have money to buy long term health insurance. It takes time to turn a profit, and earn enough money to pay for it. On the other hand, you can buy short term health insurance that will cover you for as little as 30 days. The shorter length results in less payments and overall costs of health insurance.
Prompt Coverage Option
You can expect coverage within 24 hours, when you submit your application for short term health insurance. If don't want any gaps in coverage, then prompt coverage is a huge benefit. It takes longer to get approval for Long term health insurance. Some WAHMs buy short term health insurance for 30 days while waiting for their long term health insurance application to get approved.
Delayed Coverage Option
There are reasons why you may want to delay your coverage start date. One popular reason to delay coverage is if you know you'll be leaving your job in 30 days. You can buy short term health insurance right away, but elect the coverage to start after you leave your job. Another reason is if you plan to cancel your long term health insurance plan. You can choose to start short term health insurance coverage on the day your long tern health insurance will no longer be in effect.
Less coverage, means you pay less. Short term health insurance is a good option for you, if you want your medical bills paid if you get ill or injured. That's sufficient for many self-employed individuals. It doesn't cover payments for dental or vision costs. If that's important to you, then short term health insurance won't work for you at all. However, if you're more concerned about going to the emergency room, or paying for treatment and services from your doctor, then it's a good deal. The payments are more affordable without dental and vision coverage, and you can save up for yearly checkups to your dentist or optometrist.
You'll pay much less for short term health insurance premiums, than long term health insurance premiums. Insurance companies don't have to pay out many claims, because the risks are lower. The companies count on the fact that they may not need to make any medical payments on your behalf in 30, 60, 90 or more days that you're covered. That's why insurance companies are able to keep the costs low for short term health insurance. The insurance companies view those enrolled in long term health insurance plans as more risky, and that's why the premiums are higher.
Consider short term health insurance if you want coverage for you and your family, while working from home.
Daphne Mallory, Esq. is the co-owner of Mallory Writing Services and has written more than 100 articles helping home based business owners and entrepreneurs start and market their business. You can learn more about her here.