Short term health insurance is designed to help if you are stuck without coverage for up to 6 months, the application is short, and you can have coverage by midnight. It’s also a great alternative to COBRA if you’re waiting for another health insurance policy to become effective.
What’s different about Colorado short term health insurance?
In Colorado, short-term health insurance policies are not regulated by the Affordable Care Act, so they still use medical underwriting, do not cover pre-existing conditions, and do not have to cover the range of benefits mandated by the ACA. But many Colorado short term health insurance policies are very similar to the standard health insurance policies that were sold by reputable carriers prior to the ACA’s reforms. While they’re not as robust as the new ACA-compliant individual plans, they still offer relatively high quality major medical insurance, and are a good solution for healthy individuals who have not yet enrolled in an ACA-compliant plan.
When you get quotes for Colorado short term health insurance plans, you’ll see that the premiums are much less expensive than regular health insurance policies. Short term plans are not eligible for the ACA’s premium subsidies, but their base premiums are significantly lower, and they can be purchased year-round (regular plans can only be purchased during open enrollment or when an applicant has a qualifying event such as marriage, divorce, birth, or loss of other coverage).
If you’re looking for a Colorado short term health insurance plan, be aware that these policies are not considered minimum essential coverage under the ACA.
