Short-Term Major Medical Insurance

Short-Term Major Medical Insurance - Most recent statistics reveal approximately 45.8 million Americans in the United States are uninsured and living without any type of health insurance coverage (US Census Bureau 2005), this may be for several reasons. Some individuals may be working for an employer who may not offer benefits to employees - which , by law is not required - some individuals may be among the 22 million part-time employees - many part-time jobs don't offer employee benefits, we also find many uninsured individuals are among the 8.7 million Americans who are unemployed - some individuals may even be self-employed, which means they are their own employer and are not able to offer themselves a group policy unless they have employees. A large percentage of these Americans who are uninsured or temporarily without health insurance coverage have discovered the excellent benefits offered in temporary health insurance coverage.

Short-term major medical insurance also known as temporary health insurance plans are very popular and serve as a perfect solution for individuals and/or their families who may be without any health insurance coverage. VIPER Short-term major medical insurance plans are uniquely tailored with convenient features that put you and your family in the driver seat when purchasing a health insurance policy. Short-term major medical insurance plans give individuals and/or their families the ability to design a plan that fits their specific needs, with the option to choose your own deductible and co-insurance you and/or your family have complete control over what you save, and how much you spend monthly on health insurance premiums.

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What is Short-Term Major Medical Insurance?

Short-term major medical insurance is major medical insurance offered on a temporary basis. Coverage is provided for physicians services, surgery, outpatient and inpatient care. Short-term major medical insurance plans at time of purchase, give the insured the ability to choose a period of coverage that may be as short as 30 days, up to 365 days (i.e., approximately 1 month to 12 months of coverage available), with some plans allowing unlimited re-applies, and other plans allowing for three consecutive coverage periods allowing coverage up to 36 months or 3 years of coverage. Unlike HMO's and PPO's, which operate on a pre-negotiated basis and have a pre-determined network of doctors and hospitals, short-term major medical insurance gives the insured the freedom to choose any doctor or hospital.

Short-Term Major Medical Insurance - What situations give rise to a need for temporary health insurance?

Several commonly occurring situations create a possible need for short-term major medical insurance. Individuals who are between jobs and are temporarily without an employer-sponsored health insurance plan, individuals laid-off from their jobs, individuals gaining new employment who must satisfy a waiting period before being eligible to receive group health insurance benefits (i.e. 90 day waiting period), individuals who have declined COBRA continuation of health coverage and are looking for a more affordable COBRA alternative health insurance plan, and college students or graduates who may no longer be covered under their parents health insurance plan.

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What medical expenses are typically covered by Short-Term Major Medical insurance?

Short-term major medical insurance plans offer coverage for a broad range of medical services and medical expenses. Although short-term major medical coverage may differ from plan to plan or from one insurance company to another, short-term major medical insurance will typically offer coverage for physician services, surgery, outpatient and inpatient care. After satisfying the deductible amount that has been selected by the insured, the short-term major medical insurance plan will pay the co-insurance the insured selected for covered expenses, up to the plans lifetime maximum per insured person per coverage period. Benefits are limited to the usual, reasonable and customary charge for a covered expense in addition to any specific limits.

Short-Term Major Medical Insurance plans include the following convenient features...

Doctor Office Visit

Physician Services

Prescription Drug Card

In-Hospital regular care charges

In-Hospital Intensive or Critical Care charges

Outpatient Hospital Surgery & Ambulatory Surgical Center charges

Out-Patient Emergency Room

In-Hospital Doctors visits

Surgeon and Anesthesiologist

Assistant Surgeon Services

Out-Patient or Doctors Office miscellaneous charges

Ambulance Services

Organ Transplants

Acquired Immune Deficiency Syndrome (AIDS)

Mammography

Pap Smear and Screens (Includes PSA)

X-Ray Exams, Laboratory

X-Ray and Radioactive

Blood

Organ Transplants

Short-Term Major Medical Insurance and COBRA Alternatives

Is Short-Term Major Medical Insurance a more affordable Alternative to COBRA?

Many individuals have the option of continuing their health benefits provided by their group health plan through the Consolidated Omnibus Budget Reconciliation Act, more commonly known as COBRA. COBRA is available when health benefits are lost under certain circumstances, such as voluntary or involuntary job loss, reduction in the number of hours worked, transition between jobs, death, divorce, and other life events. Individuals who qualify for COBRA continuation of health insurance may be required to pay the entire premium for coverage up to 102 percent of the cost of the plan. When faced with the unexpected high cost associated with COBRA, most individuals find themselves not able to financially manage the cost of the entire premium, therefore a very large group of individuals (approximately 93% who qualify) are forced to walk away without any type of health insurance coverage.

Short-term major medical insurance plans are very popular among individuals and families who decline COBRA - When forced to look for a more affordable COBRA health insurance alternative plan, many individuals find short-term major medical insurance plans to be a perfect solution. A large number of individuals prefer short-term major medical insurance plans because they offer the same convenient features like that of traditional major medical plans but offer more flexibility - with choice of deductibles, co-insurance, and length of coverage period - short-term major medical insurance plans typically offer major medical coverage from 30 days up to a maximum of 365 days, with plan options that allow the insured to re-apply for a maximum of three consecutive coverage periods offering a total of 36 months or 3 years of health insurance coverage, and plan options that include unlimited re-applies of non-continuous coverage periods.

Do Short-Term Major Medical insurance plans cover pre-existing conditions?

Like most health insurance policies, short-term major medical insurance plans do not cover pre-existing conditions. The pre-existing conditions limitation includes conditions that were treated or produced symptoms within five years prior to effective date of your short-term major medical insurance plan. However, some short-term major medical insurance plans like VIPER's Secure 12 x 3 temporary health insurance gives the insured the opportunity to submit a simplified application form and re-apply within 30 days prior to the termination date of coverage, if the application is approved in underwriting, a new coverage period will be issued and the effective date will be the first day following the termination date of insured's coverage period. The insured will then receive a new certificate of insurance and new deductibles and co-insurance will apply. However, the pre-existing conditions limitations will not apply to any condition(s) that were covered during a prior prior coverage period. Any other pre-existing conditions will remain subject to the pre-existing conditions limitation as described in the certificate of insurance.

Do college graduates & college students have a need for Short-Term Major Medical insurance?

Many college graduates and college students may no longer be covered under their parents health insurance plan, or may temporarily lose health insurance coverage under their parents plan because of a decrease in college credit hours or classification from full-time student to part-time student. Short-term major medical insurance is a perfect solution for any college student or graduate looking for an affordable health insurance plan.

are Short-Term Major Medical insurance plans considered "creditable coverage" under HIPAA?

Under HIPAA, temporary health insurance plans like short-term major medical insurance coverage is generally considered creditable coverage to help satisfy any pre-existing condition period.

Note: All health insurance plans, health insurance coverage, and affordable COBRA alternatives offered through VIPER Health Insurance are generally considered "creditable coverage" under the Health Insurance Portability and Accountability Act of 1996 (HIPAA).