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Is a Short Term Policy from Anthem BCBS of KY Right for You?

May 20th, 2013     News

Doing without health insurance coverage can be scary even if it is only for a month or two. Luckily carriers like Anthem BCBS of KY offer short term policies for those who need them. Here are the pros and cons.

Advantages:

  • Short term or temporary health insurance policies are often much less expensive than a typical permanent policy is. As a matter of fact these types of plans are about half the cost of a traditional policy with a similar deductible. 
  • Temporary health plans are faster than traditional policy with coverage starting within 24 hours of completing the application and sometimes even sooner from a reputable company like Anthem BCBS of KY.
  • It may be easier for those with a pre-existing condition to qualify for a temporary or short term policy although it is doubtful that your condition will be covered. More than likely you will be covered for illness or injuries but have an exclusion placed against your condition.

Disadvantages:

  • Short term or temporary health insurance policies rarely cover things like preventative care and are instead used for emergencies. 
  • If you do have a pre-existing condition a temporary health plan will not cover the condition. 
  • A temporary or short term policy is just that, short term. Therefore you will usually not be able to renew the policy after a certain point. Six months to a year is usually the maximum allowed. 
  • Short term or temporary health insurance policies, even those issued by a big name company, are not considered to be credible coverage. That means if you do have a pre-existing condition you will not be able to use a short term policy to prove coverage when you apply for a permanent health plan. 
  • If you do end up falling ill or become injured while covered under a short term policy you will have coverage however, any illness or injury can be construed as a pre-existing condition when you attempt to purchase a permanent policy.

At Preferred Insurance Group we know that sometimes it is nice to have a friend in the business. That is why we are with you every step of the way helping you find the insurance products and options that best fit your lifestyle and budget to filling out those complicated application forms and we are still here even after you buy your policy. Insurance of any kind can be complicated with new laws and policies so we stand by our clients every step of the way.

We can even help you file claims and support you if you ever have a problem with your policy or carrier. Just give us a call toll free at 877-334-1597. Or if you are really a do-it-yourselfer at heart you can click on the link above and check out a few Anthem BCBS of KY quotes yourself; it’s fast, free and there is absolutely no obligation.