If you have recently finished college you could find that you are not covered any more by your parent’s medical insurance policy and will have to look for cover until you start a job and get cover under your employer’s health insurance scheme. Likewise, if you have recently started work, you might find that you are required to work for a few weeks or months before becoming eligible to join his healthcare plan. These are of course just two of the many reasons for a need for interim medical insurance cover.

But what is temporary medical insurance coverage?

Well, as its name implies, it is medical insurance which provides health cover for a short period of time in order to give you the opportunity to maintain cover while moving from one permanent health insurance plan to another. Coverage is normally issued for anything from one month to one year, although many insurers today restrict cover to a maximum period of six months. In the majority of cases health insurers also understand that it can be difficult to know exactly how long you will require temporary cover for and so are usually reasonably flexible in allowing you to extend cover beyond the original expiry date if needed.

Short term medical insurance usually provides similar cover to that of permanent policies although there are some very important differences.

Policies are generally strictly indemnity policies and will not provide cover for preventative treatments, such as check-ups, and will also exclude optical and dental coverage. Pre-existing medical conditions and work-related injury or illness are also generally excluded.

An interim health insurance plan will usually cover you for emergency medical care, medication, hospital treatment (including intensive care treatment), laboratory and x-ray work, ambulance care and, occasionally, in-home medical care. 

How do you go about getting an interim health insurance plan?

Your first step should be to decide how long you require cover for and when you need cover to start. Then you need to locate an agent who specializes in temporary medical insurance.

Look at any policies offered carefully and pay special attention to any exclusion clauses. Ask questions if there is something that you do not understand or are concerned about. In addition, review the application and make sure that your personal information is correct before you sign it. Finally, do not forget to retain a copy of the paperwork for your own files.   

The cost of a temporary medical insurance policy will vary with the type of cover you choose. However, you can keep the cost down by choosing to have a policy with a high deductible (the amount of money which you have to pay towards your medical bills before the plan kicks in) with a 50/50 co-insurance option (the split of each bill after the deductible has been met between the insurance company and you) instead of the more common 80/20 ratio.

Also, do not forget that there are some extras which you may want to consider, depending on your particular circumstances. For instance, with today’s high cost of prescription medicines you might be better off purchasing coverage instead of leaving it off. 

The most important thing is to remember to read through any short term medical insurance plan carefully and make sure that you are getting the cover that you want and that you will be paying for.

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Filed under: Health Insurance

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