Short Term Health Insurance is usually purchased for short periods when waiting for a regular major medical insurance policy to begin. Sometimes individuals and/or families will use short term policies instead of getting a regular major medical policy. Short Term Health Insurance many times is used inbetween semesters for College students, in between jobs after you’ve quit and are waiting for your benefits to begin at your new job. Athletes will use short term policies to cover sport seasons.
Another wonderful animated video from the Kaiser Family Foundation. It gives us a detailed overview of how the Affordable Care Act (Obamacare) will work.
Receiving a health insurance subsidy (financial assistance), is like getting a gift card from the Government to help you pay your health insurance premium. This subsidy is sent directly to the insurance company, which pays a portion of your premium, and you will be responsible to pay the remaining balance.
Why No Subsidy? If you make too much money to qualify, or do not want a health insurance government subsidy, private health insurance is available. Call today! When you buy a health insurance plan in the private market, you don’t need to disclose your income or worry about updating your account throughout the year.
IF the insurance is greater than 8% of your “Modified Adjusted Gross Income”, it is considered “unaffordable” and you are not required to buy insurance.
