Short-Term Health Insurance Options in Oregon
If you’re an Oregon resident looking for a medical insurance plan for just a few months, you may want to consider short-term health insurance. Short-term plans or temporary insurance are typically less expensive than traditional insurance policies, but also have drawbacks like limited coverage.
Getting your own health insurance can seem like a hassle. But if you get injured or sick and need hospital care without insurance coverage you could be on the hook for tens of thousands of dollars. Hospital costs in 2017 averaged $3,949 per day while the overalls cost added to $15,734.1 In fact, over 60% of all personal bankruptcies in the U.S. are due to medical expenses.2
If you’re looking for a month or two of health insurance in Oregon, you’ll want to learn more about how state and federal laws regulate those insurance policies.
By law, short-term health insurance policies last less than 12 months. While new federal guidelines allow for short-term plans of longer length, states are allowed to have different laws.3 Oregon’s short-term plans are limited to three months. And when they end, Oregonians cannot use the same insurer if 60 days or less has passed to renew. They have to sign up with a different insurance company who sells short-term plans.4
How Much Do Short-Term Plans Typically Cost In Oregon?
Costs range widely for short-term health insurance plans. For example, in Salem, Ore., a 28-year-old female can expect to pay between $55.10 and $225.75 per month for a 90-day short-term policy. Deductibles range from $1,000 to $10,000; policies with lower deductibles require a higher monthly premium payment. Coinsurance varies between 20-30% of costs after you meet your deductible.5
In Portland, Ore., a 35-year-old female can expect to pay between $72.34 and $329.63 per month for a 90-day short-term health care plan.6 Deductibles range from $1,000 to $10,000. Coinsurance varies between 20-30% of the costs after you meet your deductible.
While Oregon short-term plans cost less than Affordable Care Act (ACA) plans, they do not cover the same types of healthcare needs. You may find a short-term insurance plan that covers doctor visits and emergency room care or hospital stays. On the other hand, they may not cover maternity care or recently-diagnosed preexisting conditions. Read plan details carefully to make sure you select the right plan for your needs.
How Can You Buy Oregon Short-Term Insurance Plans?
If you need temporary health insurance in Oregon, you can typically find one in about 10 minutes online from online health insurance marketplaces like Healthcare.com. With coverage available as soon as the next day, and up to 30 days after selecting a plan, it can be a quick process that brings a lot of peace of mind.
Find a short-term insurance plan.
Is Short-Term Health Insurance Right For You?
Short-term health insurance plans are a good choice in many circumstances. You can buy short-term health insurance to protect yourself while you wait for coverage to start at a new job, or if you miss the annual Open Enrollment Period for an ACA plan. You can buy short-term health insurance policies anytime; they are not limited to certain times of the year. Short-term plans may also work for college students waiting for school coverage to begin during the summer.
If you’re relatively healthy (with no preexisting conditions) or require a more affordable policy, then short-term health insurance may be right for you.
Why Might Short-Term Health Insurance Not Be the Right Choice?
If you have a preexisting or medical condition, then short-term health insurance may not be the right option for you. You can be denied coverage if you have a preexisting condition; short-term policies aren’t required to extend coverage like ACA-approved plans. Also, if you need the essential health benefits offered by ACA plans, a short-term policy may not be the right choice. Lastly, if you need continuous coverage for more than three months, you should consider other options.
Short-term or temporary health insurance can be a safety net to cover your health insurance needs when you’d otherwise go without it. Emergency surgeries or sudden illness could be very costly without health insurance coverage. Short-term policies in Oregon offer affordable options for up to three months and can be the right choice in certain circumstances.