Individual and Family
Short Term Health Insurance in Wisconsin is an Affordable Choice for Many
Published on May 23, 2018
If the health insurance plans you’re seeing on the Marketplace are too expensive, don’t give up on getting health insurance. There are options for those in Wisconsin who can’t afford Affordable Care Act (ACA)-compliant plans. Short term health insurance in Wisconsin is one of many affordable alternatives to ACA coverage. Keep reading to learn more about this temporary coverage that is quick, affordable, and flexible and can offer you coverage in a variety of situations.
Short term health insurance is more affordable than ACA-compliant plans
Some people may be asking “Why choose short term plans?”. For some, it’s because they have a gap in coverage and need insurance until they get more permanent coverage, but for others it’s because it’s the most affordable option for coverage.
For many who don’t qualify for subsidies, ACA-compliant (or major medical) insurance is simply unaffordable. The average monthly premium for unsubsidized individuals buying ACA-compliant coverage on eHealth costs 244% more than the average premium for short term coverage bought on eHealth. For some, this is enough of a reason to buy short term health insurance in Wisconsin.
What does short term health insurance in Wisconsin cost?
In Wisconsin, the average short term plan costs $102 a month with a $4811 deductible. State-specific regulations may play a role in cost variation from one state to another.
You can visit Wisconsin’s short term health insurance page on eHealth to see more information on short term medical plans in your state, and get quotes for plans in your area.
Other reasons why short term health insurance is a great option for many
Along with affordability, short term health insurance has many benefits and characteristics that make it a good form of coverage in specific instances. Some of these cases include:
- Gap in coverage due to:
- Loss of job
- Aging out of parents’ plan
- Failure to pay monthly premium
- Gap in coverage while waiting to become eligible for Medicare
- Missing the annual Open Enrollment Period
- Needing quick proof of insurance for a special event*
If you need short term health insurance beyond the typical 90 days that a plan lasts, it may comfort you to know that you’re not alone. Consumers are allowed to re-apply for a short term plan once it ends, and in 2017 22% of eHealth’s short term customers did exactly that.
Some of the major benefits of short term health insurance are:
- Flexibility—with short term health insurance in Wisconsin, you won’t have to wait for an open enrollment period
- Quick coverage—not only are short term plans easy to apply for, but approval is usually very quick, and your coverage may begin in as little as a few days
- Affordability—as we talked about earlier, on average, short term plans are 244% more affordable than ACA-compliant coverage
- Coverage for emergencies—short term plans cover most emergency-related services such as outpatient doctor visits, hospital stays, surgeries, and related x-rays and lab services
*short term does not count as proof of insurance for tax purposes, and will not protect against fines for being uninsured
More to know about buying short term health insurance in Wisconsin
Short term insurance allows people to have protection for a limited period of time. While it does not offer the “ten essential health benefits” and applicants can be denied coverage based on pre-existing conditions, 58% of respondents to an eHealth survey reported that their short term plan provided them with the benefits they valued most.
Wisonsonites should also be aware that there has been discussion about changing the policy surrounding short term coverage. Kaiser Family Foundation reports that the current administration has released a proposal suggesting that the limit on short term plans should be extended to anything under a year. This could mean that in the future, short term health insurance in Wisconsin could provide coverage for 364 days rather than just 90.
This article is for general information and may not be updated after publication.