Even though health insurance is no longer required, going without it can be a risky proposition for your overall health as well as short term and long term finances. Whether you need a short term plan to cover healthcare in instances of a lay off or job loss, or if you have a short period of time before anticipated coverage begins, it is possible to reduce the stress of being uninsured with a short term health insurance policy.

Here is how short term health insurance may provide a useful and cost-effective way to keep your health coverage alive:

1. Cover the basics
Short term medical insurance is used to cover the basics of medical needs. These plans are good for an emergency and to cover preventative and emergency care when waiting for coverage to begin on another policy. Though the deductibles may be higher than traditional plans, it provides much of the same coverage. Additionally, there is usually not a need to change doctors. You can see the doctor you want in the network that you choose. A short term health plan will not cover pre-existing conditions, so it is important to research plans to determine that the policy chosen fits your specific needs.

2. Individuals and families welcome
A temporary medical plan may be the coverage needed for individual or family health insurance. Basic health coverage for maternity and other types of care are not guaranteed but may be available depending on the plan. This may be true for college students over school breaks without coverage, 26-year-olds who lose coverage on their parents’ plan, people who retire too early for Medicare and other life situations for all ages in-between. Signing up for a plan allows flexibility in who is covered and for a period of between one and twelve months. The payments are monthly and there is no penalty for canceling the plans. The costs of gap health insurance may be significantly lower than major medical coverage and the plan can start within days of applying.

3. Start using your plan right away
Typically, short term medical insurance can be acquired within two weeks of application. Though applications may be denied for reasons that are not allowed in purchasing a major medical policy, the short term plans will provide a level of coverage that will cover medical emergencies and check-ups. You don’t have to wait for an open enrollment period, coverage can begin at any time. This makes it ideal for situations where some health insurance is needed for a limited amount of time until other coverage begins.

4. For preventative and emergency health
If you find yourself without major medical coverage, it may be possible to find a short term health insurance plan that covers you for preventative and emergency care. Small monthly payments for plans like those offered by Pivot Health Insurance will keep you covered for up to a year, maybe more, until you can enroll in a major medical plan. The coverage provided may save you thousands of dollars in the case of injury or medical emergency by signing up for a temporary medical plan to cover those unfortunate situations. Find the plan that best suits your needs so a health emergency does not turn into a financial burden.