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Anyone know anything about short-term health insurance?


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Dh lost his job in March, so we have been paying for Cobra for him and the kids since April (I have my own policy through work and paying for cobra was actually cheaper than putting them on my insurance). Dh is starting a new job, but insurance won’t kick in until Nov 1. I have been toying with the idea of looking into a short-term  policy for the next two months. Any thoughts on why this might not be the best idea?

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Are you otherwise able to stay with the Cobra plan until November 1?  If so, are you thinking of changing to a different policy for two months because it would be cheaper?

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If you are able to stay with the Cobra, before making a decision to change to short-term I would look at:

deductible on Cobra (and how much has been satisfied) and copay amounts

deductible on short-term policy and copay amounts

premium cost for each plan

are your doctors contracted with the short-term plan

does the short-term plan cover all the medical care you typically need

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Posted (edited)
14 hours ago, J-rap said:

Are you otherwise able to stay with the Cobra plan until November 1?  If so, are you thinking of changing to a different policy for two months because it would be cheaper?

Yes. Since April 1, we have been paying about $1200 per month for Cobra. It looks like we could get a short term policy for about $250 per month. At this point, an extra $2000 would be kind of nice (approximately $1,000 per month). But I don’t want to make this decision if we will regret it later. 

 

ETA - I apparently can’t spell at all!!!

Edited by Just Kate
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Do you mean you've been paying $1200 for Cobra?  Or do you mean you've been staying on the Cobra plan because it would cover treatment for your family if they were to get Covid?   Does anyone in your family have ongoing health needs?  

If everyone is in good health, no current health risks or needs...  What does the short term policy offer as far as major medical or emergency treatments?  If you're not needing any day-to-day health care (even ordinary prescriptions can be incredibly expensive without good health insurance), then that's the part you'd need to be concerned about.  Would it cover Covid treatments?

 

 

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1 hour ago, J-rap said:

Do you mean you've been paying $1200 for Cobra?  Or do you mean you've been staying on the Cobra plan because it would cover treatment for your family if they were to get Covid?   Does anyone in your family have ongoing health needs?  

If everyone is in good health, no current health risks or needs...  What does the short term policy offer as far as major medical or emergency treatments?  If you're not needing any day-to-day health care (even ordinary prescriptions can be incredibly expensive without good health insurance), then that's the part you'd need to be concerned about.  Would it cover Covid treatments?

 

 

I think I’d been reading too many Covid threads. I meant to type that we have been paying $1200 per month for Cobra (not Covid!!). Oops. 
 

There are many different short-term policies to choose from. I don’t think they cover preexisting issues (which shouldn’t be a problem). I guess I need to wrap my head around the deductible and what it looks like compared to what we have now. 
 

With dh unemployed for so long, it has just been a mess - it will be almost five months of unemployment when he starts working again next week! Unfortunately, his new job is not in his career field and he is taking a significant pay cut (50%?). The thought of saving $2000 is nice, but I keep thinking if it seems too good to be true, it probably is. 

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I figured you meant Cobra.  🙂  I'm sorry for all the unemployment and now the pay cut.  Ugh.  I can see that saving $2000 would be nice.  You should definitely look into what the out-of-pocket/deductible expenses would be in the case of something major happening that is unexpected.  Even a fairly minor ER visit can be extremely expensive.  Those are the costs you need to look into.

That said, we bought travel health insurance last year for two months, and I was surprised at how good it was for a relatively small price.  Perhaps there are some short-term, gap insurance coverages that are similar.

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pre-existing conditions are not an issue any more, since the Affordable Care Act.

We had a gap in insurance this summer. Cobra was going to be super expensive. We got a high deductible plan through the healthcare marketplace. We don't need any ongoing healthcare, it was just a catastrophic plan so an accident or major illness didnt bankrupt us. We are paying $147 a month for 3 people. The deductible per person is about $3000. We were pleasantly surprised how affordable the plan was.

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