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Short-term health insurance can come in handy when you are between jobs and previously received insurance coverage through your employer. Short-term insurance plans are also common when you cannot afford a traditional insurance plan, have lost group coverage or aren’t qualified for the Affordable Care Act.1 Read on to learn how short-term health insurance works, how much it costs, and the pros and cons.
While short-term health insurance and short-term disability insurance sound similar, there is one key difference. Aflac’s short-term disability insurance can be made available to you ahead of time by your employer to help protect you from an injury that could impact your ability to work. In contrast, short-term health insurance is purchased after you lose health insurance and need an intermittent plan.1
Aflac's short-term disability insurance is designed to help provide cash benefits when you are injured and put out of work. Cash benefits are paid to you to help balance out missed paychecks resulting from the injury. This type of temporary insurance plan is only available through your employer, so we recommend talking to your employer if short term disability coverage is not offered.
Short-term health insurance coverage isn’t offered at Aflac, but we do have other products that may better suit your needs, like accident, hospital and short-term disability policies. We recommend exploring all your options before choosing a policy.
Short-term health insurance is a kind of temporary health insurance for when you are in between coverage, otherwise known as a coverage gap.2 This type of plan can help cover preventive care, emergency care, visits to the doctor, and other types of care costs. The coverage you can receive from short-term health insurance can vary based on the plan you have and the insurance company.
Don’t wait until it’s too late. Help cover yourself and your family with affordable coverage from Aflac.
Short-term health insurance costs are generally reasonable, but it depends on the company you choose to work with and there may be less expensive alternatives. The average cost of short-term health insurance is $171 a month.2 Since the plans are temporary, they typically have high deductibles or co-pays and a firm maximum limit.1
A deductible is the amount of money the policyholder must pay out-of-pocket for short-term health insurance before benefits kick in.3 On the other hand, a co-pay is a portion of money that must be paid for by the policyholder for a covered doctor’s visit, treatment or procedure.4 Lastly, the maximum limit is how much money the insurance company is willing to pay for medical services.5
There are a handful of pros and cons of short-term health insurance to consider before taking the plunge. After assessing the benefits and drawbacks of these plans, we recommend comparing them to other plans, like short-term disability and accident insurance.
If you find yourself in a coverage gap, short-term health insurance may be the right choice for you. However, if you have experienced a severe injury that has put you out of work, there may be better temporary insurance options available.
Aflac doesn’t offer short-term health insurance, but we do offer other insurance plans designed to help provide support in the ways you need it most. For example, Aflac Accident Insurance exists to help provide relief when a surprise injury occurs. On the other hand, Aflac Hospital Insurance is designed to help cover hospital expenses your primary health insurance didn't cover.
Short-term disability insurance may also be a valuable alternative if it is offered through your employer. Chat with an agent to see which policy makes the most sense for your needs.
1 Investopedia - Best Short-Term Health Insurance Providers. Updated January 22, 2024. Accessed January 25, 2024. https://www.investopedia.com/best-short-term-health-insurance-4844942.
2 Forbes Advisor - Best Short-Term Health Insurance Companies Of 2024. Updated: Jan 3, 2024. Accessed January 25, 2024. https://www.forbes.com/advisor/health-insurance/best-short-term-health-insurance-companies/.
3 Investopedia - Health Insurance Deductible. Updated January 2,2023. Accessed January 25, 2024. https://www.investopedia.com/health-insurance-deductible-4773113.
4 Investopedia - Co-pay vs. Deductible- What’s the Difference. Updated August 28, 2023. Accessed January 25, 2024. https://www.investopedia.com/ask/answers/051415/what-difference-between-copay-and-deductible.asp.
5 The Balance - What Are Insurance Policy Limits? Updated April 14, 2022. Accessed January 23, 2024. https://www.thebalancemoney.com/what-are-insurance-policy-limits-5192903.
Coverage underwritten by American Family Life Assurance Company of Columbus. In New York, coverage is underwritten by American Family Life Assurance Company of New York.
Short-Term Disability: In Delaware, Policies A57600DE & A57600LB. In Idaho, Policy A57600IDR. In Oklahoma, Policies A57600OK & A57600LBOK. In Virginia, Policies A57600VA & A57600LBVA. Accident: In Delaware, Policies A36100DE—A36400DE, & A363OFDE. Policy A371AA & A371BA. In Idaho, Policies A36100ID–A36400ID, & A363OFID. Policy A37000ID. In Oklahoma, Policies A36100OK– A36400OK, & A363OFOK. Policy A37000OK. In Virginia, Policies A36100VA – A36400VA, & A363OFVA. Policies A371AAVA & A371BAVA.
Coverage underwritten by Tier One Insurance Company.
Accident: In Delaware, Policy T37000. In Idaho, Policies T37100ID, T37200ID, & T37300ID. In Oklahoma, Policy T37000OK.
Content within this article is provided for general informational purposes and is not provided as tax, legal, health, or financial advice for any person or for any specific situation. Employers, employees, and other individuals should contact their own advisers about their situations. For complete details, including availability and costs of Aflac insurance, please contact your local Aflac agent. Coverage may not be available in all states, including but not limited to DE, ID, NJ, NM, NY or VA. Benefits/premium rates may vary based on state and plan levels. Optional riders may be available at an additional cost. Policies and riders may also contain a waiting period. Refer to the exact policy and rider forms for benefit details, definitions, limitations and exclusions.
Aflac WWHQ | Tier One Insurance Company | 1932 Wynnton Road | Columbus, GA 31999
Z2400079
EXP 2/25
