Temporary Health Insurance to Cover Insurance Gaps
Did you just graduate from college and you’re looking for that perfect grown-up job (or you want to spend time finding yourself enjoying the beautiful Wyoming sky)? Maybe you’re finding yourself between jobs and need something to cover a gap in insurance coverage. Perhaps you decided to retire a few months shy of being eligible for Medicare.
Wyoming short term health insurance is valuable temporary health insurance that covers gaps in your coverage for these situations:
- Recently graduated from college
- Laid off or currently in between jobs - an alternative to COBRA
- Pending employer-sponsored health insurance coverage
- Turned 26 and lost coverage from parent’s insurance
- Retired, but not yet 65 or eligible for Medicare
Why Get Short Term Health Insurance?
Although short term health insurance has its limitations, it is a valuable product to use if you are temporarily without health insurance. Here is a list of the benefits of short term:
- No enrollment periods, short term is available year-round
- Can be approved and begin coverage as early as the day after applying
- Coverage includes comprehensive medical
- Generally less expensive than plans found in the ACA Marketplace
- Most do not require a primary care doctor’s referral for specialist care
- Most allow you to drop your short term coverage at any time and receive a premium refund if you decide to enroll in another health insurance plan before your term ends
Talk With an Advisor About Your Short Term Health Insurance Options. Get a Quote or Call (888) 554-3287.
Short Term Health Insurance Limitations
It is important to note that short term health insurance does have limitations. For example, short term insurance will not cover pre-existing conditions. If you have received treatment for a medical condition in the past few years and have found yourself out of work and need temporary insurance coverage, COBRA may be a better option because it does cover pre-existing conditions. Be aware that purchasing a short term insurance option may make you ineligible to utilize any COBRA benefits after the fact.
Short term health insurance does not meet the qualified health plan minimum requirements set forth by the Affordable Care Act, so you may be subject to a tax penalty if you do not seek coverage in addition to short term insurance. Short term health insurance plans are not eligible for government financial assistance. Short term insurance will not cover preventative care such as immunizations or physicals. It also does not cover injuries or illnesses that occur outside the United States.
Top Wyoming Short Term Health Insurance Providers
- Standard Security Life Insurance
- HCC
- National Health Insurance Company
- UnitedHealthOne
Wyoming Short Term Insurance FAQs
- Can I enroll in a short term insurance plan at anytime?
You can enroll in short term coverage whenever you find yourself having a lapse in health insurance coverage.
- Does short term insurance have a time limit?
Short term insurance plans do have a limit. The time limit for short term insurance is 1-12 months depending on varying state regulations.
- Can I be kicked off short term insurance?
If you have met the 12 month time limit for short term insurance, you may be forced off short term insurance completely or be auto enrolled into a another plan that provides appropriate insurance coverage.
- How long should I keep my short term insurance?
It is recommended that you use short-term insurance as a temporary solution
- What are the benefits of short term insurance?
The benefit of short term insurance is that it provides a relatively inexpensive option to cover short periods of time where you may be experiencing a lapse in health insurance coverage.
- What does short term insurance not cover?
Short term insurance does not cover pre-existing conditions, preventative care, or any other healthcare needs that may occur when not on United States soil.
- Is short term insurance the same as temporary insurance?
Yes, the phrase short term insurance is sometimes referred to as temporary insurance. Short term insurance (and temporary insurance) offers consumers a way to temporarily access certain health insurance benefits during times when they are unable to access other health care options.
- Do employers in Wyoming offer short term insurance?
No, employers in Wyoming do not offer short term insurance. If you are fired or let go from your employment, you will most likely be offered COBRA health insurance. Learn the difference between short term insurance and COBRA.
- What is the difference between short term insurance and COBRA?
Short term insurance is significantly less expensive than COBRA but covers fewer costs, such as vaccinations, physicals, or pregnancy. Whereas COBRA allows you the access to the exact health insurance plan that you had access to with your previous employer, but at a much higher cost.
- If I am let go or fired in Wyoming, will my employer offer me short term insurance?
No, your employer will not offer you short term health insurance, but will most likely offer you the opportunity to sign up for COBRA insurance. Learn the difference between short term insurance and COBRA.
- What information and documents should I have when I'm signing up for short term insurance?
When you are signing up for short term health insurance you will need to have proof of your annual income and residency status.
- Can I get short term insurance if I am recently divorced or widowed?
You could get short term insurance while pending the beginning of a new or updated insurance coverage window. Keep in mind that change in marrital status, i.e. divorce or being widowed, typically falls under the category of a qualifying life event and makes you eligible for a Special Enrollment window.
- How does short term insurance work with life events?
Short term may be a good way to tie you over while you wait for the beginning of a coverage window. Keep in mind that most major life events like marriage, birth of a child, change in employment fall under the category of a qualifying life event and thus you are eligible for a Special Enrollment window that allows you access to many different insurance options.
- Can I get Obamacare cost assistance with short term insurance?
Short term insurance does not meet the minimum health insurance coverage requirements of a qualified health plan as mandated by the Affordable Care Act (Obamacare) and you will be subject to a tax penalty. Additionally, because short term health insurance does not meet the minimum ACA requirement, it does not qualify for cost assistance.
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