There are more than a handful of reasons why someone would buy an individual or family Arizona short-term health insurance plan as opposed to an individual ACA policy. For those that qualify for such coverage (most do) the main reason of course is price. Short -term plans are 50%-60% less expensive than ACA policies. Combine the much lower premium with the fact that in Arizona short term policies can be locked-in for up to three years of coverage at a time, and it is no wonder they are a very popular alternative to ACA coverage.
Arizona short term health insurance policies may be a good fit for those that have lost their job, or their former employer offered COBRA but the premium was too high. Possibly the employee’s hours were cut, and they no longer qualify for the employer group health insurance plan.
Those that have retired early and are too young for Medicare should consider short-term coverage. There are even short-term policies specifically designed for these retirees known as Bridge to Medicare plans.
For the younger individual, say a 26-year-old aging off their parent’s policy, a short-term plan is likely the best bet. Short-term insurance is also a good fit for those recently married or divorced, make too much money to qualify for Medicaid, college students needing coverage in another state, and for those in their waiting period at a new job.
Another benefit of short-term policies is that coverage can go into effect almost instantly. There is no Open Enrollment period and policies can be purchased any day or night online. The application is quite short, taking only a few minutes to complete, and the applicant will know instantly if they qualify.
Generally speaking, if an individual is healthy and doesn’t plan on using their health coverage too often, an Arizona temporary health insurance policy is an affordable alternative to an ACA policy.