Short term health insurance in TN vs. ACA plans
Consider the following statistics about health care coverage in Tennessee:
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Average individual ST Premium$78
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Average Individual ST Deductible$3,886
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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 TN short term health insurance work?
Tennessee chose not to impose stricter regulations for short term limited duration plans, and stuck to the federal laws on plan duration and renewals. This means, Tennessee short term health insurance plans are allowed initial terms of up to 364 days with the chance to renew for up to 36 months.
Get Quotes on Short Term Health Insurance in Tennessee
We offer TN residents short term medical insurance plans provided by leading insurance carriers. Compare Tennessee 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 Tennessee, so you understand that this temporary coverage is different than typical ACA-compliant coverage.
What to know about Tennessee 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 Tennessee 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. Furthermore, short term plans generally do not guarantee renewal, so any conditions that develop while you are on a short term plan may prevent you from renewing or may be excluded from your policy once you renew.
Due to those limitations, short term health insurance might not be for everyone. If you are seeking to save on health insurance costs in Tennessee 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.