Haris Ashley
If you need medical insurance quickly, there are a few options available to you. Short-term health insurance plans can be a good temporary solution to bridge gaps in coverage. They are available year-round, typically have low monthly premiums, and coverage can begin within a few days of applying. However, they may not cover all essential health benefits and are not required to comply with certain federal market requirements. On the other hand, you can apply for health insurance through the Health Insurance Marketplace during the yearly Open Enrollment Period, which starts on November 1, or during a Special Enrollment Period if you've experienced certain life events, such as losing health coverage or having a baby.
How fast can I get medical insurance?
| Characteristics | Values |
|---|---|
| Short-term health insurance | Coverage can begin as early as the day after your application |
| Open Enrollment Period | November 1 – January 15 |
| Special Enrollment Period | January 16 – October 31 |
| Children's Health Insurance Program (CHIP) | Coverage can start immediately |
| Medicare | For Americans aged 65 and older |
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What You'll Learn
Short-term health insurance
Short-term health plans are sold through private insurance companies, and you can purchase a plan at any time during the year with coverage starting as soon as the next day. The duration of these plans can range from one month to three years, depending on the company and your state's regulations. It is important to carefully read the details of your chosen plan, including any exclusions and limitations, to ensure you understand what is covered and what is not.
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Special Enrollment Period
Qualifying life events that may make you eligible for a Special Enrollment Period include losing your health coverage through your employer or that of a family member, including if you lose health coverage through a parent or guardian because you are no longer a dependent. You may also qualify if you gain a new dependent or become someone else's dependent due to a child support or other court order. In this case, your coverage starts on the same day as the effective date of the court order, even if you enroll in the plan up to 60 days afterward.
Other qualifying life events include facing a serious medical condition, natural disaster, or other national or state-level emergency that prevented you from enrolling on time. For example, an unexpected hospitalization or temporary cognitive disability that incapacitated you. To qualify due to a natural disaster, you must live (or have lived during the event) in a county that is eligible to apply for "individual assistance" or "public assistance" by the Federal Emergency Management Agency (FEMA). You have 60 days from the end of the FEMA-designated incident period to complete your enrollment in Marketplace coverage.
You may also qualify for a Special Enrollment Period if someone on your Marketplace plan passes away, causing you to lose your current health plan.
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Children's Health Insurance Program (CHIP)
If you're looking to get medical insurance as soon as possible, you might want to consider short-term health insurance. Short-term health insurance can be purchased at any time and typically begins within a few days of applying. However, it's important to note that short-term health insurance is not an ACA health plan and may not provide the same level of coverage. It also doesn't cover pre-existing conditions and may have lifetime and/or annual dollar limits on health benefits.
Now, if you're specifically looking for health insurance for your children, the Children's Health Insurance Program (CHIP) is a great option to explore. CHIP provides low-cost or free health coverage to children in families with incomes too high to qualify for Medicaid but too low to afford private coverage. The best part about CHIP is that there's no limited enrollment period, so you can apply at any time of the year, and if your children are eligible, their coverage can start immediately.
CHIP is available in all states, and each state program has its own rules about who qualifies. The costs for CHIP coverage differ in each state, but you won't have to pay more than 5% of your family's income for the year. Routine "well child" doctor and dental visits are free under CHIP, and it also covers a range of other health services, which may include hospitalization, emergency services, maternity care, prescription drugs, and mental health services.
To apply for CHIP, you can fill out an application through the Health Insurance Marketplace. If it appears that anyone in your household qualifies for Medicaid or CHIP, your information will be sent to your state agency, and they will contact you about enrollment. You can also call 1-800-318-2596 (TTY: 1-855-889-4325) for more information.
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Medicare
Some people get Medicare Part A and Part B automatically, while others have to sign up for it. If you are already covered through an employer group health plan, it might make sense to delay signing up for Part B. If you are 65 or older and receive Social Security benefits, you will be automatically enrolled in Part A. This is the "Initial Enrollment Period," and there are no penalties if you sign up during this time. This period lasts for 7 months, starting 3 months before you turn 65 and ending 3 months after you turn 65. If you miss this period, you may have to pay a monthly late enrollment penalty for as long as you have Part B coverage. The penalty increases the longer you wait.
There is also a Special Enrollment Period for Part B, which lasts for 8 months and starts when you stop working or lose your job-based coverage. If you miss this period, you will have to wait for the next General Enrollment Period and may have to pay a late enrollment penalty.
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Marketplace health plans
There is a wide range of Health Insurance Marketplace plans to choose from. They offer coverage for medical care, as well as dental and vision. Each state's Marketplace has its own enrollment instructions and requirements. To get started, go to Healthcare.gov to find your state Health Insurance Marketplace.
During the Marketplace open enrollment period each year, you can enroll in, renew, or change health plans through the Marketplace for the coming year. Open Enrollment starts on November 1, and coverage can start as soon as January 1 for those who enroll and pay their first premium by December 15. The last day to enroll in or change plans for coverage in the coming year is December 15. After January 15, you can enroll or make changes only if you qualify for a Special Enrollment Period.
You may qualify for a Special Enrollment Period if you experience a life event like moving, having a baby, getting married, or losing health coverage, or if your household income is below a certain amount. During this period, you can enroll in or change Marketplace plans.
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Frequently asked questions
Short-term health insurance can provide coverage as soon as the day after your application.
Short-term health insurance is a temporary solution to fill gaps in coverage. It is medically underwritten and does not have to comply with federal market requirements.
Short-term health insurance can last anywhere from one to twelve months. New rules limit the length of the initial contract term to three months and the maximum coverage period to four months.
You qualify for a Special Enrollment Period if you've had certain life events, including losing health coverage, moving, getting married, having a baby, or adopting a child, or if your household income is below a certain amount.
CHIP stands for Children's Health Insurance Program. It is a federal healthcare program that provides low-cost health coverage to children in families that earn too much money to qualify for Medicaid but not enough to buy private insurance.
