Short term medical insurance grabs market share while exchanges struggle

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October 9, 2013 by Tony Novak

An unexpected development in the launch of the insurance exchange system puts short term medical insurance in the spotlight while the exchange software glitches are addressed. Short term major medical insurance is cheap, fast and available to most people, according to Freedom Benefits insurance exchange owner Tony Novak.

Yesterday Reuters Business and Financial News recommends that individuals waiting for coverage though the federal or state health insurance systems may wish to consider short term medical insurance to cover the gap. While this coverage has gaps and limitations, it provides basic broad coverage at an affordable price and, for some people, preserves the rights under the law known as COBRA to switch group health plans without penalty for a gap in coverage. For that reason, short term medical insurance is commonly used to as a more affordable alternative to COBRA. Reuters reports that the average single person buying short term medical insurance pays about $70 per month for a plan that charges a $50 co-pay for a visit to the doctor. By contrast, the Kaiser Family Foundation reports that the average COBRA payment is roughly $490 per month. HCC Short Term Medical Insurance is specifically mentioned in the article, one of the top short term medical insurance plans endorsed by and available online through Freedom Benefits.

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