Short term health insurance in MD vs. ACA plans
Consider the following statistics about health care coverage in Maryland:
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Average individual ST Premium$82
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Average Individual ST Deductible$3,435
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Average Premium for Individual ACA plans bought on eHealth in 2017 $378
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Average Deductible for Individual ACA plans in 2017 from eHealth customers $4,449
Source data
Source data according to eHealth Newsroom:
Average premiums and deductibles of short term health insurance plans bought on eHealth insurance, by state (2017); Average premium and deductible of ACA plan bought on eHealth, U.S. (2017).
How does MD short term health insurance work?
Although federal laws allow short term plans to last 364 days with the opportunity for renewals, Maryland chose to impose their own laws. Maryland short term health insurance is limited to three (3) months with no chance for renewal in accordance with HB1782. Under that state law, Maryland short-term health insurance plans must include certain state-mandated benefits.
Maryland short term health insurance can be a solution for when you're between jobs, waiting for group coverage to start, or need an affordable solution to more traditional health insurance for some time.
Get Quotes on Short Term Health Insurance in Maryland
We offer MD residents short term medical insurance plans provided by leading insurance carriers. Compare Maryland short term health insurance plans and select the plan best suited for your health care needs.
Make sure to read your plan details carefully when shopping for short term health insurance in Maryland, so you understand that this temporary coverage is different than typical ACA-compliant coverage.
What to know about Maryland short term health insurance
A major appeal of short term health coverage is how affordable it is. The benefits covered by short terms plans are typically related to emergency care, meaning that these plans may work well for those who don’t require regular medical care, such as frequent visits to the doctor or expensive prescriptions. Although these plans do not have as many benefits as major medical health insurance, they provide some coverage that’s still affordable for many people.
Purchasing a short term health insurance plan in Maryland may make you ineligible for any guaranteed issue individual health plans commonly referred to as HIPAA Plans, or a COBRA plan if you recently lost coverage from a group health plan.
Also keep in mind that short-term health plans typically do not cover pre-existing medical conditions or many benefits that more comprehensive plans do, such as the minimum essential benefits that are required for qualified health plans under the Affordable Care Act.
Due to those limitations, short term health insurance might not be for everyone. If you are seeking to save on health insurance costs in Maryland and only need minimal coverage, short term can be a good option, but make sure to take the risks and your own health care needs into account when it comes to choosing your health insurance plan.