Steer Clear of Short-Term Health Insurance

Image: PRPicturesProduction (Shutterstock)As the coronavirus outbreak continues, some companies are predicting higher health insurance premiums for 2021. Whether you have recently lost your job—or you’re already thinking about fall open enrollment—there are some types of insurance to stay away from. Short-term health insurance may seem less pricey upfront, but these plans could cost you in…

Steer Clear of Short-Term Health Insurance

Image: PRPicturesProduction (Shutterstock)As the coronavirus outbreak continues, some companies are predicting higher health insurance premiums for 2021. Whether you have recently lost your job—or you’re already thinking about fall open enrollment—there are some types of insurance to stay away from. Short-term health insurance may seem less pricey upfront, but these plans could cost you in the future. Here’s why.What is short-term health insurance?Short-term, limited-duration insurance (STLDI)—which has been around for decades—was created to fill gaps in health insurance for folks like job changers and students. The Obama administration cracked down on STLDI by limiting policies to less than three months, but new rules have extended the plans to one year with the option to renew for three years.The National Association of Insurance Commissioners says these plans may seem like regular health insuran
Read More From Publisher