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The 7 Steps For Applying And Using Short Term Health Insurance

For anyone who’s had comprehensive medical insurance before, the process for securing and using a Short Term health insurance plan will look pretty familiar. Here’s what you need to know:
  1. You can apply for a Short Term insurance plan online through many carriers, like Golden Rule Insurance Company, for example. Applying is relatively easy although waiting periods may apply for some coverages.
  2. Once your plan is effective, you pay monthly premiums in order to receive coverage for eligible medical expenses.
  3. If you become sick or get hurt, you can go to your in-network hospital or doctor and present your insurance card.
  4. Your healthcare provider will bill your Short Term insurance carrier, which pays its share of eligible medical expenses, and then the healthcare provider will bill you for your share.
  5. When you receive your bill from the doctor or hospital, you will be responsible for the deductible, just like any medical insurance policy.
  6. In addition to the deductible amount, you are also responsible for paying a percentage of the remaining expense, known as coinsurance, and any medical expenses that are not eligible for coverage.
  7. Once you’ve reached the out-of-pocket maximum, your insurance plan pays 100% of the remaining eligible covered medical expenses up to the “coverage-period maximum benefit.”

This policy has exclusions, limitations, reduction of benefits, terms under which the policy may be continued in force or discontinued. For costs and complete details of the coverage, call or write your insurance agent or the company, whichever is applicable.