Short term health insurance is similar to regular major medical health insurance, but is designed to last a specific period of time. Also known as STM (short term medical), these policies are usually valid for a period of 30, 60, 90, or 180 days. Short term coverage is best for individuals who are waiting for benefits to kick in on group health insurance. Many employers require a 3-month or 6-month wait for your group health insurance plan to become effective, and short term medical insurance can bridge the cap at a low cost. It is also useful for seniors bridging the gap to age 65 Medicare eligibility.
STM is NOT a replacement for major medical coverage. Pre-existing conditions are not covered under any short term policies. If you develop a medical condition while insured under a short term policy, that condition would then be considered pre-existing if you were to purchase a second short term policy and would not be covered. It could also effect your insurability for other health insurance that you may need when your short term policy ends. Some companies will limit the number of short term policies you can buy in a single year.
Underwriting for short term insurance is very easy. If you are not currently pregnant or married to someone who is pregnant, Anthem Blue Cross / Blue Shield offers guaranteed coverage under their Short Option plan.
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