We live in a world, where lifestyle diseases are on a rise, and every-one should be covered with health insurance. Enormous stress related to work and sedentary lifestyles or life, in general, is putting us at the risk of developing life-threatening diseases. At this time, health insurance coverage is a necessity, a non-negotiable want that protects you and your family members against any kind of medical emergency or life-threatening diseases, accidents, etc.
Medical insurance is all about covering you and your family against various type diseases.
We all have been fighting with our problems, for some of us problem can be financial, job related or other, but according to current situation we all can try to protect with medical insurance. This can be realized through access to better & quality health care services and an understanding of every personal health needs.
What is a short –term health insurance plan?
Short-term health insurance policies will work for a maximum of 12 months. After which Short-term policy has to be renewed or else you can lose the right to “no claim bonus” or NCB. Generally, most people take up a short term health plan so that they can save themselves to pay heavy premium associated with a long term health plan.
Short-term Health Insurance
NOTE:
Short-term health insurance plans are planned for people who do not want or cannot afford major medical insurance or who want a temporary form of limited coverage before they get major medical health insurance. Among other limitations and exclusions, short term health insurance plans do not cover your pre-existing or the minimum essential coverage of the ACA (benefits such as mental healthcare, pregnancy, and childbirth, preventive care, etc.)
ADVANTAGES:
One of the premium advantages of the “short term health insurance plan” is that you do not have to pay a high premium rate.
- As long as you are paying timely annual premiums, they provide you the same advantages of short-term health and long-term health plans.
- You can also save your tax under section 80D of the income tax with a short-term health insurance plan.
Short-term Health Insurance
DISADVANTAGES:
- Although, your premium for your short-term insurance may be less but at the time of the renewing insurer may ask you for extra charges.
- All Short term health plans often do not cover maternity claims,
- Short term health plans do not provide cover for existing disease.
- If you are not going to renew your short-time health insurance then you could lose your major benefit, like a non-claim bonus.
Covering your family with Short-term health insurance or long-term health insurance is the necessary step, everyone must take. Medical expenses are higher these days so before getting into any trouble go and discuss with your insurance adviser and cover your family with a medical cover.
