Susanv
Confused about dryer sheets
Hi! Does anyone recommend using Short-term Health Insurance for gap coverage until one reaches Medicare eligibility? When my husband retires, he will be 65, I will be 63. I will need coverage for 2 years.
62, will lose health insurance when spouse retires
- Thread starter Susanv
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Short term coverage is not health insurance. It's more like limited emergency care insurance, and only good for shorter periods, a few months a best. For 2 years, traditional health care coverage is needed.
All three of MichaelB's statements are incorrect. Batting 100%!
(1) The short-term coverage I purchased for 2017 resembles - to a remarkable extent - the type of health insurance policy I was able to buy when I first began purchasing private health insurance in 2007. Whether this type of policy would work for you depends upon the details of your particular situation. Note: these policies are Obamacare non-compliant, so a penalty may be owed on your 2017 taxes if the individual mandate survives.
(2) I purchased the longest-term policy available - 11 months. More than a few months, but less than a year. I'll purchase a one-month policy for December 2017 if necessary.
(3) Some states allow you to chain short-term policies together indefinitely; some don't. So (theoretically, at least), you could cover an arbitrarily long period with short-term policies. However, most people (including me) don't find this an attractive prospect, but sometimes you do what you gotta do.
Welcome to wonderful world of thinking outside-the-box! It's not for everyone.
Huston55
Thinks s/he gets paid by the post
Presuming your DH has no access to retiree HI for self/spouse, which would likely be my first choice.
Choice #2 would likely be COBRA, if you're eligible. If so, that will last for 18 mos; leaving you only 6 mos to cover. Seems you could use a short term, high deductible HI policy to cover the remaining 6 mos prior to Medicare eligibility.
PS: Just thought of another choice---a part time job (e.g.: Starbucks) which provided HI for such employees.
Bestwifeever
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I was able to stay on cobra on DH's benefits when he aged into Medicare and was no longer on megacorp's plan. For a spouse of a retiree it was good for a full 36 months (not sure if that's a general rule). I needed it for only 20 months until I hit Medicare. I stayed on cobra, although pricey, because if you move off cobra for other insurance, you can't return to it, and ACA had just started and I just didn't want to think about it.
pb4uski
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Does OP have any pre-existing conditions? If so, they are specifically not covered by ST plans.
Several years ago when I was buying some paint at Home Depot we got to chatting with the lady mixing the paint. At the time HD offered HI for employees who worked over 20 hours a week. She was a single mom and was thrilled to have that benefit.
So that might be an option too.
Incorrect? That's pretty harsh.All three of MichaelB's statements are incorrect. Batting 100%!
(1) The short-term coverage I purchased for 2017 resembles - to a remarkable extent - the type of health insurance policy I was able to buy when I first began purchasing private health insurance in 2007. Whether this type of policy would work for you depends upon the details of your particular situation. Note: these policies are Obamacare non-compliant, so a penalty may be owed on your 2017 taxes if the individual mandate survives.
(2) I purchased the longest-term policy available - 11 months. More than a few months, but less than a year. I'll purchase a one-month policy for December 2017 if necessary.
(3) Some states allow you to chain short-term policies together indefinitely; some don't. So (theoretically, at least), you could cover an arbitrarily long period with short-term policies. However, most people (including me) don't find this an attractive prospect, but sometimes you do what you gotta do.
Welcome to wonderful world of thinking outside-the-box! It's not for everyone.
Short term insurance policies do not comply with ACA essential benefits coverage. They provide reduced coverage for a low price and are designed to enable people to bridge short periods of time while meeting continuous coverage requirements. They are not designed to provide coverage over longer periods of time. You are free to purchase any policy, and the insurer will certainly sell it to you, but that does not make it a good choice, especially if you develop a chronic condition that requires regular care and drugs.
If the OP cannot afford full coverage she should look at the possibility of getting premium assistance. If she is not eligible and is willing to accept reduced coverage perhaps a catastrophic policy, which is ACA compliant, is an option.
marko
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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Harsh indeed, considering IMO MichaelB is the de facto expert on HC on this forum.
REWahoo
Give me a museum and I'll fill it. (Picasso) Give
No.
Appreciate, but there are experts on healthcare insurance here on the forum, and I'm not one of them.
I would suggest the OP share a little more information with forum members regarding her situation and needs, and advice will be forthcoming.
pb4uski
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
While I agree with Michael, if the OP has no pre-existing conditions, no prescriptions that they are taking regularly, is in good health and in an area where ACA bronze coverage is crazy expensive, then a short-term policy might be a viable strategy for 2 years.
If they develop a medical issue, then at least based on the current rules they could buy an ACA policy at the next open enrollment date.
But IMO a short-term policy would be a last resort if COBRA or an ACA policy (or catastrophic coverage if they qualify) is unaffordable.
I found this webpage interesting: https://obamacare.net/short-term-health-insurance/
If they develop a medical issue, then at least based on the current rules they could buy an ACA policy at the next open enrollment date.
But IMO a short-term policy would be a last resort if COBRA or an ACA policy (or catastrophic coverage if they qualify) is unaffordable.
I found this webpage interesting: https://obamacare.net/short-term-health-insurance/
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