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Illinois Short Term Health Insurance
Why do I need short term health insurance in Illinois?
Short term or temporary health insurance is for individuals that may be in the following situations:
Unemployed - Persons who are out of work for short or even a somewhat extended period of time.
Starting a new job - Persons who have started a new job may not become eligible for their employers group plan immediately. Sometimes, the wait can be as long as 6 months!
Recently graduated from college - They may have no current health benefits and until they find full time employment, health coverage is still needed.
Students no longer on their parent's plan - You have reached the age, or are no longer a fulltime student and are not eligible to be a dependent on another plan.
Persons who are no longer eligible for COBRA - You may have used up your eligibility period and are in the process of searching for a long term health insurance plan.
Retired before age 65 - Persons needing health insurance coverage before they are eligible for Medicare.
What does short term health insurance in Illinois cover?
Depending on the policy and the insurer, these are some of things that can be covered by your short term health insurance policy:
Short term health insurance - Advantages and Disadvantages
Advantages: Short term policies, because of their limited amount of coverage length, are usually cheaper than traditional health insurance for this reason. There are no networks for short term plans, so you can use any doctor or hospital you choose.
You can get immediate coverage due to limited health questions and underwriting.
Short term health insurance can be used as creditable coverage to satisfy all or part of the 63 day requirement for continuation purposes. This helps if you eventually obtain new group health coverage in the future.
Disadvantages: Short term policies, unlike traditional health insurance, are not intended to be kept for an indefinite period of time. If you purchase a certain amount of a time period with a short term policy, the entire period you choose usually has to be paid for in advance ( some companies allow for monthly billing for extended terms, but are more expensive) and there are no refunds for excess coverage periods that you did not use. Some policies are renewable, but only for terms of 1 day to 12 months at a time for maximum of 1 to 3 times with any specific insurer.
Most short term policies do not include benefits for maternity, dental, vision, or mental health.
If you develop a health condition while your policy is in force, you may not qualify to renew the short term plan and you may have trouble obtaining a traditional individual health insurance policy in the future.
You are generally not able to obtain short term health insurance if you have been declined for any other health insurance in the past. (If you cannot obtain coverage, however, because of health issues, you may be eligible for a state funded health insurance plan, such as ICHIP www.chip.state.il.us )