Going uninsured can be risky. In 2005 research conducted by the American Society of Professional Estimators, 45.8 million Americans are without health insurance. Sixty-three percent of individuals without insurance are adults under age 34. Many find themselves uninsured immediately after college graduation or if they are between jobs. However, insurance companies do offer short-term HMO plans for under $200 a month.
Step 1
Learn the laws. As of Jan. 1, 2011, the Affordable Care Act may change what you have previously known about health insurance. Health insurance companies are required to make coverage available to adult children until age 26. Adult children can remain on a parent's plan whether or not they are married, living with their parents, in school, eligible to enroll in their own employer's plan or financially dependent on a parent.
Step 2
Determine how long you think you will need short-term coverage and when you will need it to start. If you are graduating from college, you will likely need your insurance to kick in on the day of graduation. If you are starting a new job, find out the date your new coverage will be in effect.
Step 3
Make a list of any pre-existing conditions you have. HMO short term insurance applications require a list of conditions as well as medications and any surgeries you have had in the past year. As of Jan. 1, 2011, you may be eligible for apply for your state's pre-existing condition insurance plan. To qualify for this plan, you must be legally residing in the United States, uninsured for at least six months and have been denied other coverage based on a pre-existing condition.
Step 4
Visit websites of insurance carriers in your area. Insurance -- including Highmark, Cigna and United Healthcare -- websites allow you to compare plans and receive free online instant quotes. Since insurance companies have multiple short-term HMO plans, you can compare prices, deductibles and the terms of each plan side by side. To get a free quote, the company will require you provide your date of birth and your gender. Coverage for women tends to cost more than coverage for men. Additionally, premiums tend to go up with age.
Step 5
Make a list of the quotes you found. List each insurance companies' name, as well as the monthly cost, co-pays and deductibles.
Step 6
Make a decision. Once you think you have decided on a short term HMO plan, do some investigating. Find out if your current physicians are part of your plan, and what happens if you require coverage for longer than initially anticipated. This will help to solidify your decision.
Tips and Warnings
- Having a pre-existing condition does not always disqualify you from receiving short-term HMO coverage. Some insurance carriers provide an HMO option that does not deny anyone. This coverage may require you pay a highly monthly premium or a higher deductible.
- COBRA is another option for short-term health insurance. COBRA is generally offered to individuals after they leave a job. COBRA coverage will last between 18 and 36 months. Your employer will notify you if you are eligible to continue your insurance coverage through COBRA. COBRA can be expensive health insurance. You will pay the entire monthly premium: Your former employer pays no portion of your COBRA coverage.
