Indianapolis Health Insurance
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To be fully implemented 2014
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Indianapolis Short Term Medical Insurance for (former) Students

IC 27-8-5-2,28 and  IC 27-13-7-3 require commercial health insurers and health maintenance organizations to cover children until age of 24 or without regard to age if they are incapable of self-sustaining employment due to disability.

Short-term medical insurance can be an ideal insurance product for young people who have graduated from college and are no longer covered by their parents' health insurance. Short-term medical insurance is unique in that it is temporary and lasts between one and twelve months. This temporary insurance normally covers much of your financial risk in the event of medical emergency or need for prescription drugs, but does not cover pre-existing conditions.

Coverage has many benefits. First, it is easy to apply and qualify for. If you think you would benefit from having insurance immediately then short-term medical insurance is frequently available within 24 hours of your application being approved.

Another benefit is that typically, short-term medical insurance offers a lifetime benefit level, a deductible of varying size depending on the premium you wish to pay, prescription drug coverage, patient services, and nationwide coverage. It's important to note that most short-term medical insurance plans are not HMO or PPOs and they're intended to be a temporary bridge to permanent health insurance.

Young Adults should have short-term medical insurance for a variety of reasons. If you're like most young people, you're a healthy person and don't require regular medical treatment from specialists. That's why short-term medical could be a good fit for you - the intent of the policy is to cover you in the event of a medical emergency and other basic health needs. And, because it's not as an extensive health insurance as a permanent HMO or PPO plan, it's far less expensive and will work on any-sized budget.

The key decision for young adults to make regarding short-term major medical insurance is determining the size of your deductible. Generally, the higher the deductible (the amount of cash the insured must pay prior to your insurance coverage paying your medical costs), the lower your monthly payment. You must be in a financial position where either you or your family can cover your deductible.

One important note: short-term major medical insurance can be a great deal for young adults that have just left their family's health insurance policy, graduated from college, between jobs, or taking time off from school.. However, GradGuard doesn't recommend temporary insurance for young adults with a chronic health condition or a family history of medical illness or premature death.

Find out more about short-term medical insurance today and protect yourself from life's uncertainties and risks. The best part? It's much less than you think!

Young adults have several options to consider in order to ensure that they have a minimum level of health insurance coverage.

  1. First - determine if you are eligible to remain on your family's health insurance plan. Remember that most insurance policies cut off dependents when they turn 19 or finish college, so make sure to act quickly when you see your 19th birthday approaching, graduation day looming, or if you plan to leave your college or university.
  2. Even if you are eligible to remain on your family's health insurance policy, short-term medical insurance may be a more affordable option for you. The big difference, however, is that typically your family's health insurance is permanent insurance and will provide the greatest amount of coverage.

    Why can buying short-term medical insurance directly be less expensive than buying from your school or adding yourself to your parents' health insurance? There are a variety of factors that contribute to this fact:

    1. Insurance offered through your school or through your parents' provider is offered to everyone regardless of age or health. Short-term medical offered to young adults is most often cheaper because most students are healthy and will not require a great deal of medical attention.
    2. Insurance premiums are determined by lifestyle factors, and students typically have lifestyle factors that are deemed as positive ones by insurance carriers.
    3. You may attend a school that requires insurance coverage. This does not mean that you must get insurance through your school. Health insurers can provide you with proof of insurance, which you can include with your waiver form.
  3. Get Covered - even if you are barely getting by financially, the cost of a medical emergency can be devastating. The reality is that young adults cannot afford not to have some type of health insurance. If you are in between jobs, if you're waiting for employer benefits, if you are a temporary or seasonal employee, or if you're a new graduate, short-term medical insurance could be a great fit for your needs and save you a great deal of money. For about the cost of a Caffé Latte a day, most young-adults can get short-term major medical insurance.

If you are sick in Indiana, read our uninsurable alternatives page.