Short-Term Medical
When you’re in transition.

 

 

Keep out-of-pocket medical expenses in check.

When you find yourself in transition, Short-Term Medical from Standard Life can help you bridge the gap. Short-Term coverage pays benefits like a major medical insurance plan, but for a length of time you select, up to one year.

 

ACCIDENT STATISTICS

$375.6B

Out-of-pocket healthcare spending in the U.S. grew by 2.8% in 2018 to $375.6 billion.1

$5,641

Annual spending for medical and pharmacy claims in the U.S. reached $5,641 per person in 2017.2

$1,655

The average deductible for workers in the U.S. covered by a major medical plan with a general annual deductible in 2019 was $1,655.3

 

PLAN BENEFITS

Up to $1,000,000 lifetime benefits per person.
Doctor’s Office or Urgent Care Facility visits paid at the coinsurance rate, after a $50 copay.
Large provider network to help reduce out-of-pocket costs.
ScriptSave Select prescription discount membership provided free of charge.
Premium discount for single up-front payment for coverage up to 180 days.

 

 

PRODUCT FEATURES

Doctor’s Office or Urgent Care Facility visits not subject to the deductible.
Deductible choices: $250, $500, $1,000, $2,500, $5,000, or $7,500.
Coinsurance choices: 50/50 or 80/20.
Choose any provider Child-only coverage is available – minimum 2 years of age.

 

 

GREAT OPTION IF YOU'RE

Between jobs or laid off
A part-time or temporary employee
A recent graduate
Looking for affordable coverage for up to one year

 

 

THIS PLAN PROVIDES LIMITED BENEFITS. THIS COVERAGE IS NOT REQUIRED TO COMPLY WITH FEDERAL MARKET REQUIREMENTS FOR HEALTH INSURANCE, PRINCIPALLY THOSE CONTAINED IN THE AFFORDABLE CARE ACT. BE SURE TO CHECK YOUR POLICY CAREFULLY TO MAKE SURE YOU ARE AWARE OF ANY EXCLUSIONS OR LIMITATIONS REGARDING COVERAGE OF PRE-EXISTING CONDITIONS OR HEALTH BENEFITS (SUCH AS HOSPITALIZATION, EMERGENCY SERVICES, MATERNITY CARE, PREVENTIVE CARE, PRESCRIPTION DRUGS, AND MENTAL HEALTH AND SUBSTANCE USE DISORDER SERVICES). IF THIS COVERAGE EXPIRES OR YOU LOSE ELIGIBILITY FOR THIS COVERAGE, YOU MIGHT HAVE TO WAIT UNTIL AN OPEN ENROLLMENT PERIOD TO GET OTHER HEALTH INSURANCE COVERAGE.

THIS POLICY DOES NOT MEET THE DEFINITION OF QUALIFYING PREVIOUS COVERAGE OR QUALIFYING EXISTING COVERAGE. AS A RESULT, IF PURCHASED IN LIEU OF A CONVERSION POLICY OR OTHER GROUP COVERAGE, YOU MAY HAVE TO MEET A PRE-EXISTING CONDITION REQUIREMENT WHEN RENEWING OR PURCHASING OTHER COVERAGE.

SHORT TERM MEDICAL (STM) AND HEALTH CARE REFORM
SHORT-TERM, LIMITED-DURATION PLANS ARE NOT SUBJECT TO CERTAIN PROVISIONS OF FEDERAL HEALTH CARE REFORM, INCLUDING THE PROVISIONS RELATED TO ESSENTIAL HEALTH BENEFITS, LIFETIME LIMITS, PREVENTIVE CARE, GUARANTEED RENEWABILITY, AND PRE-EXISTING CONDITIONS. THE PRE-EXISTING CONDITION EXCLUSION FOR SHORT TERM MEDICAL PLANS WILL APPLY FOR ALL INSUREDS, INCLUDING THOSE UNDER THE AGE OF 19. EXAMPLES OF THE CLAIMS STM PLANS DO NOT COVER ARE FOR MOST PREVENTIVE CARE, MATERNITY, MENTAL HEALTH AND TREATMENT RELATED TO MEDICAL CONDITIONS THEY HAD PRIOR TO THE PLAN’S EFFECTIVE DATE. BECAUSE THESE PLANS ARE NOT GUARANTEED RENEWABLE, THE APPLICANT MAY NOT BE ELIGIBLE FOR ANOTHER SHORT-TERM PLAN AFTER THE PLAN’S TERMINATION DATE; AND THE PRE-EXISTING CONDITION EXCLUSION WILL APPLY TO ANY CONDITIONS THAT AROSE DURING ANY PRIOR SHORT-TERM PLANS. KNOW YOUR PLAN. SHORT TERM MEDICAL PLANS OFFER AFFORDABLE COVERAGE, BUT MAY HAVE ELIGIBILITY QUESTIONS (SO YOU CAN BE DECLINED) AND DO NOT PROVIDE MINIMUM ESSENTIAL COVERAGE. THIS MEANS THE INSURED MAY HAVE TO PAY A TAX PENALTY, DEPENDING ON THEIR INCOME LEVEL AND THE COST OF PLANS AVAILABLE.

 

Sources for statistics: 1National Health Expenditure Data; 22017 Health Care Cost and Utilization Report – Health Care Cost Institute; 3Kaiser Family Foundation: Employee Health Benefits Survey; *National Center Biotechnology information