When choosing a Health Insurance Plan for you or for your family you need to ask two questions: How long will you need your insurance? What do you need to be covered? Depending on the duration of insurance, Health Insurance Plans are divided into two categories: Long-Term and Short-Term Health Insurance.
What is Short-Term Health Insurance?
Often called travel insurance plans Short-Term Health Insurance becomes more and more preferable
these days. It covers the cost of both medical and travel experiences for a period of one year or less. Short-Term Health Insurance allows you to choose your own policy maximum and deductible, permitting you to stay in control of your coverage and the price. In addition, it allows you to choose the exact duration of your coverage depending on your situation. Due to its various benefits, many individuals and families who like to travel frequently prefer this plan. Short-Term Health Insurance also works well for students on shorter study abroad programs who don’t need strict insurance requirements.
What is covered?
Since Short-Term Health Insurance typically offers coverage for only one year at most, this plan does not cover long term conditions like chronical illnesses, mental health or motherhood. Instead, it provides a coverage for all the new illnesses or injuries that may get during a trip. It includes the costs of doctor visits and hospitalizations.
What is Long-Term Health Insurance?
Unlike Short-Term insurance plan, Long-Term Health Insurance (LHI) plan is designed to cover the costs of medical expenses for a longer time than a year. This health plan typically works well for those who are chronically ill and are not able to perform at least two of six daily activities. While this health plan is more expensive, it provides benefits that are not covered by Short-Term Health Insurance. Long-Term Insurance generally covers home care, assisted living, adult daycare, respite care, hospice care, nursing home and much more.
What is covered?
While Long-Term Insurance plans are typically more expensive, they provide many benefits that are not covered by short-term insurance plans, such as chronical illness coverage, wellness visits, and preventative care. Besides, some long-term insurance plans also offer coverage for pregnancy, vision and dental costs.
If you still have questions or need help in choosing the best health insurance plan, feel free to contact us! We are always ready to help you.