Short Term Medical Insurance

Renewal options vary by state and insurer. Federal regulations allow short-term plans to last up to 364 days with possible renewals up to 36 months total. However, many states have stricter limits. Some allow renewals while others require you to reapply with a new medical questionnaire each time. Important: renewals aren't guaranteed, and insurers can deny renewal or change your premium based on claims history or health changes. 

If you develop a new illness or injury after your coverage begins, it should be covered according to your policy terms (subject to deductibles and copays). However, if your condition becomes chronic or ongoing, it will likely be considered a "pre-existing condition" if you try to renew or get a new short-term plan. This means future short-term policies probably won't cover treatment for that condition. 

Short-term plans typically exclude all pre-existing medical conditions. This includes any condition you had symptoms of, received treatment for, or took medication for before your coverage started. The lookback period is usually 12-60 months. Even minor conditions like high blood pressure or diabetes are excluded. If you have any ongoing health issues, short-term insurance likely won't cover related care. 

Short-term plans:

• Don't cover essential health benefits (like maternity, mental health, prescription drugs)
• Exclude pre-existing conditions
• Have medical underwriting
• Can have lifetime/annual benefit caps
• Generally lower premiums but higher out-of-pocket costs
• No premium subsidies available

ACA marketplace plans:

• Must cover 10 essential health benefits
• Cannot exclude pre-existing conditions
• No medical underwriting during open enrollment
• No lifetime benefit caps
• Higher premiums but better coverage
• Premium subsidies available based on income

Coverage varies significantly. Many short-term plans offer limited prescription drug coverage with high deductibles and copays. Coverage is typically limited to generic drugs or short-term prescriptions. Medications for chronic conditions or pre-existing conditions are usually excluded entirely. 

Most short-term plans can start coverage within 24-48 hours of approval, with some offering same-day coverage. This is much faster than typical employer plans or marketplace plans. However, some policies may have specific waiting periods for certain types of care, so check your policy documents.