How to Choose Good Short-Term Health Insurance

While health insurance is generally a long-term purchase, there might be times when you need short-term health insurance coverage. When you leave college and go out on your own (depending on your age and family coverage status under the 2010 federal health care law), you might need a short-term plan to protect you until you find a job with benefits. If you retire early, you might need a short-term plan that covers you until Medicare kicks in. It's important to shop around for the best possible deal.

Instructions

• 1

  Lay out a time frame for your short-term health insurance needs. This will obviously be easier if you know the exact date your permanent health insurance will kick in. For instance, if your new job requires a waiting period before benefits are available, you can purchase a short-term policy that protects you in the interim. Short-term health insurance policies generally run for six months or less, and many health insurance companies write policies that run month-to-month.

• 2

  List any pre-existing conditions you have. Also list any prescription medications you are taking. Most short-term insurance policies do not cover pre-existing conditions or prescription drugs, and if either apply in your case, you will need to seek out a policy that covers those conditions and medications.

• 3

  Contact each health insurer in your area and request information about their short-term plans. Many health insurers offer short-term plans, but not all do.

• 4

  Compare the quotes you receive, taking into account the monthly premiums, co-payments and deductibles. Add up all of your possible out-of-pocket costs and use that figure to compare the cost of the plans.

• 5

  Ask about the possibility of extending the plan past the current date if need be. Many short-term health care plans run month-to-month, making it easier to get the coverage you need for as long as you need it.