This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Why a Short-Term Health Plan Might Make Sense for Some Before Obamacare

NEW YORK ( TheStreet) -- With the Affordable Care Act nearing its Tuesday deadline for open enrollment, some Americans still aren't sure what moves to make on the fast-moving health care insurance front.

Only four in 10 Americans even know that the Affordable Care Act is the law of the land, according to the Kaiser Family Foundation. And half of Americans don't understand how the ACA will affect their families.

With uncertainty the rule, many Americans without health care or whose employers may be moving them on to heath care exchanges may be considering short-term care insurance -- at least to plug gaps and buy some time until they know where they stand under the new law.

But is taking the short route a good idea?

The Mountain View, Calif., online health insurance exchange eHealthInsurance says so. "If you're uninsured now and biding time until you enroll in 2014 -- or if you find yourself uninsured for a brief period of time in early 2014 -- short-term health insurance is worth considering," says Carrie McLean, eHealth's Obamacare expert (yes, that's her real title).

That said, even McLean says there are pros and cons to short-term coverage.

"Short-term coverage can provide you with a basic level of coverage in case of unexpected injury or illness," she says. "Because coverage under a short-term plan is limited, it's easier to qualify for -- you can buy today and start your coverage almost immediately."

With plans advertised as starting as low as $69 per month for individuals (or $169 for a family plan), McLean says short-term health care is affordable and you can elect to pay it in one lump sum or in monthly installments. (The company has been eyed for its seductive "teaser rates" in the past.)

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AAPL $130.28 0.00%
FB $81.53 0.00%
GOOG $565.06 0.00%
TSLA $218.42 0.00%
YHOO $44.52 0.00%


DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs