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North Carolina Short Term Health Insurance

Short Term Health Insurance in North Carolina refers to medical insurance that provides protection against unexpected health care expenses.  In North Carolina, policies can be purchased from 30 days to 3 years.  The application process is simple - only a few qualifying questions to answer.  Coverage can begin as early as the next day.

Interesting Fact:  The United States spends over $8,250 per capita on health care every year - that's over 22% higher than the next highest country in the world and over 170% higher than the average of the highest-spending 50 countries in the world.  In 1960, the per capita cost of health care was $147 per person in America; adjusted for inflation, it would be $1,082 today; that means our current per capita cost has grown over 660% above and beyond normal inflation.  As a portion of the gross domestic product (GDP), health care spending accounts for 17.7 percent.  The U.S. is second in the world and first among developed nations for the highest health care spending as a percentage of GDP.  The total amount of money spent on health care each year in the United States is $2.6 trillion, and it is expected to continue rising.  By 2021, spending on health care each year is expected to be $4.8 trillion.  It is estimated that 30% (about $750 billion) of health care spending each year is wasted.
What is Short Term Health Insurance?
The first thing to do is define short term health insurance.  There are two parts to this: What short term health insurance was, and what short term health insurance is now.

In the not too recent past, short term health insurance was designed just for short term situations.  The health insurance term duration ranged from several months to a year. 
Raleigh, North Carolina
This type of health insurance was for individuals who needed temporary medical insurance, or for individuals who could not afford traditional health insurance.  It was used mostly by employees who frequently changed jobs, or employees waiting for their group health insurance plan to kick in.  Often, young adults would select a short term health insurance plan because of its affordability.  The rationale being they could purchase a traditional health insurance plan once they were more financially established.  The actual medical coverage was strictly for hospitalization.  Doctor visit benefits, preventative services, or prescription drug benefits, were unheard of.

Today's short term health insurance plans are quite different.  In North Carolina, many short term health insurance plans offer doctor visit copay benefits, preventative services, prescription drug benefits, and more.  There are now short term health plans available in North Carolina that can be held for up to three years before a new application is needed.

The short term medical insurance benefit structure is beginning to look a lot like traditional health insurance plans.  North Carolians have noticed.  Short-term health insurance is becoming an ideal health insurance solution for a growing number of North Carolina families.

Good to know:  Discuss health plans options with your doctor.  Go over your insurance company's list of covered prescription medications with your doctor.  Some medicines will cost you more than others.  If your doctor knows what's on your insurer's list, he can select the best medication for you at the lowest price.  Also, if your plan requires you to get a referral to a specialist, take your insurance plan's preferred-provider list to your primary-care appointment.  Your doctor can easily pick out the best specialist who participates in your plan.
Short term health insurance is not for every circumstance.  It lacks several of the guaranteed benefits that are part of the Affordable Care Act portfolio of plans.  However, There are several notable advantages.

  • Affordability.  Traditional Health insurance options can be very costly.  A short term health insurance plan will likely be a more affordable solution.
  • Employment Gap.  If you receive health insurance through your employer and are between plans or jobs, short-term health insurance can help cover you and your family for the interim.
  • Network.  If you live in an area with few healthcare providers, short-term insurance may help expand your options.
  • Near immediate coverage.  In most cases, you can qualify and be covered by a short term health insurance plan within 24 hours.

UNC REX Hospital
UNC REX Hospital
4420 Lake Boone Trail
Raleigh, NC 27607
Phone: (919) 784-3100
Plus Code: R78W+XR Raleigh, North Carolina
Find: Map

Speaking with a true health insurance specialist will help you determine if a North Carolina short term health insurance plan is the right choice for you and your family.  Give us a call today.

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