When to Consider Short-Term Health Insurance

Is short-term health insurance the right choice for you? In this section we'll examine three big reasons why consumers sometimes choose short-term health plans.

When you need coverage for a short period of time

The Affordable Care Act created an annual open enrollment period when anyone can buy major medical health insurance. If you need temporary health coverage outside of open enrollment but you haven't had a qualifying life event, short-term coverage can be a good option to meet your coverage needs. Short-term coverage can also protect you while you're waiting for employer-based coverage to begin.

2019

Obamacare Open Enrollment

Nov. 1, 2019 to Dec. 15 2019

2019

Jan	Feb	Mar	Apr
May	Jun	Jul	Aug
Sep	Oct	Nov 11/1	Dec 12/15

Outside of Open Enrollment

Those without a qualifying life event may apply for short-term health insurance.

2020 Open Enrollment Period

The 2020 open enrollment period is subject to change but is scheduled to run Nov. 1, 2019 through Dec. 15, 2019. During this period anyone can apply for major medical health insurance.

When you haven't experienced a qualifying life event

During Obamacare open enrollment periods, anyone can sign up for traditional major medical insurance. However, outside open enrollment periods, you must experience a "qualifying life event," such as marriage, the birth of a child, loss of employer-based coverage, etc. before you can enroll in major medical coverage. If you need health insurance now, but haven't experienced a qualifying life event, short-term health insurance is a good option.

Here are a few examples of qualifying life events:

Marriage

Birth of a child

Loss of employer-based coverage

When traditional major medical coverage is too expensive

The cost of major medical health insurance can be prohibitive, even for some people qualifying for subsidies. If the price of traditional major medical coverage is unaffordable for you, short-term health insurance may provide a temporary alternative that still offers you some coverage at a lower cost.

$113

Short-term

Average premium:
(In 2018)

$448

Major Medical

Average premium:
(In 2018)