Short-term medical plans cover you before Medicare starts.

If you need coverage before you’re 65, short-term medical plans may help.

What can cause a gap in health insurance?

There are many reasons why you may find yourself without health insurance prior to becoming eligible for Medicare. This could include early retirement, losing your job, or losing eligibility as someone’s dependent. If you lose your employer-sponsored health insurance, you may be entitled to continue coverage through COBRA if your employer meets certain requirements. Or, depending on your financial situation, you may be eligible for Medicaid. Also, if you get a new job, you might be eligible for insurance under that employer’s plan. Your other option is to enroll in a short-term medical plan.

  Are these plans right for you?

You can determine if you need coverage by how often you need health care if you have chronic health issues, and what you can afford to pay for insurance.

Short-term medical plans.

Short-term medical plans offer much more flexibility. You can generally enroll at any time and you could get coverage as soon as the following day. Plans range in length from 1 to 12 months and, once the plan period ends, you can usually start another plan. These plans can typically be dropped at any time without a penalty. Short-term medical plans also have lower premiums.

Limitations of short-term medical plans.

Because short-term medical plans are not mandated to adhere to guidelines, they do not have to accept everyone who applies. There could be a medical exam or lengthy questionnaire and someone could be turned away or services could be excluded due to pre-existing conditions. Also, these plans can choose what types of expenses they wish to cover, so it’s important to fully understand what benefits are included prior to enrolling.

If you’re looking for health insurance to bridge the gap before you’re eligible for Medicare, we may be able to help you sort through the options. Contact us to learn more.