If you do not have coverage for a small amount of time during the year, a short term plan may be an option to fill those gaps. While these policies are not qualified, a short term plan could provide coverage in case something were to happen. The term not qualified means the policies do not follow ACA guidelines. Therefore they are not a viable insurance plan to have for the entire year. Since these plans do not have to cover the 10 Essential Health Benefits required by the ACA, the premiums are lower.
If you are enrolling in a short term plan, it is very important that you go over the plan benefits, exclusions, and limitations. Our office can provide information on where to and how to obtain these plans. Although, we generally do not administer these plans because of the specific information they require to enroll.
Current federal legislation to enable short term plans to have 12 month coverage and to increase consumer options. While these laws may pass at the federal level, Nevada state law only allows short term plans to a maximum of 6 months a year. In this case, state law takes precedence over federal law. Therefore, this means Nevada will not recognize 12 month short term plans unless further state regulations are changed. You can read more about this here on our blog page.