When to Consider Short-Term Health Coverage: Key Life Events

Short-term health insurance is a practical solution during life transitions such as job changes, graduations, or missing open enrollment periods. It offers quick, affordable coverage starting as soon as the next day, with flexible terms and early cancellation options. While it has limitations like benefit caps and exclusions for pre-existing conditions, it provides essential protection when you need it most. Ideal for staying protected during unpredictable life events, short-term plans are a useful stopgap until permanent coverage is in place.

Short-term health insurance provides vital protection during transitional periods when your primary coverage is temporarily unavailable. Also called temporary health plans, these policies are ideal in situations such as: graduating from college and leaving parental insurance, switching jobs and awaiting new benefits, going through a divorce and needing individual coverage, waiting for Medicare to start, missing open enrollment deadlines, or being under 65 and in good health. Short-term plans offer flexible, affordable coverage tailored for immediate needs, starting as soon as the next day.

Typically costing around $69 per month for individuals and $160 for families, these plans can be purchased for a specified term, paid monthly, and canceled early without penalties, often with refunds for unused days. However, they do not cover pre-existing conditions or meet ACA standards, and have limits on benefit amounts. Despite limitations, short-term health insurance offers quick, accessible coverage during unpredictable life changes.

Note: This information is compiled from research and expert sources; consult a financial professional for tailored advice. Policy details and costs may vary over time.