Summary - A new market study, titled “Global Short Term Health Insurance Market Size, Status and Forecast 2019-2025” has been featured on WiseGuyReports.
Health insurance is a means for financing a person’s health care expenses. While the majority of people have private health insurance, primarily through an employer, many others obtain coverage through programs offered by the government. Other individuals do not have health insurance at all.
Health insurance is a type of insurance coverage that covers the cost of an insured individual's medical and surgical expenses. Depending on the type of health insurance coverage, either the insured pays costs out-of-pocket and is then reimbursed, or the insurer makes payments directly to the provider.
In 2018, the global Short Term Health Insurance market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of xx% during 2019-2025.
This report focuses on the global Short Term Health Insurance status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Short Term Health Insurance development in United States, Europe and China.
The key players covered in this study
Allianz
Zurich
Anthem
UnitedHealth Group
DKV
BUPA
Kaiser Permanente
Aetna Inc
PICC
PingAn
Kunlun
Market segment by Type, the product can be split into
Life Insurance
Non-Life Insurance
Market segment by Application, split into
Commercial
Residential
Other
Market segment by Regions/Countries, this report covers
United States
Europe
China
Japan
Southeast Asia
India
Central & South America
The study objectives of this report are:
To analyze global Short Term Health Insurance status, future forecast, growth opportunity, key market and key players.
To present the Short Term Health Insurance development in United States, Europe and China.
To strategically profile the key players and comprehensively analyze their development plan and strategies.
To define, describe and forecast the market by product type, market and key regions.
In this study, the years considered to estimate the market size of Short Term Health Insurance are as follows:
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025
For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
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Thus, all such consumers who are caught by the family glitch or coverage gap and don't have access to affordable ACA-compliant coverage may at least find out about the short-term plans available in their area to check whether it is worth having or not.
These plans usually provide coverage for 3 months or less but in some states, they even provide coverage for 1 to 3 years.
However, people should be aware that short-term health insurance plans unlike major health insurance plans do not have to adhere to any federal regulations.Who is Eligible for Short Term Plans?It is observed that many mid-income group people fail to enroll in the Individual health insurance plans, mainly because they are ineligible for premium subsidies.
Hence short-term plans turn out to be particularly useful for a majority of the 30 million uninsured that especially include early retirees looking for short period coverage before they become eligible for Medicare, people between jobs, self-employed, and individuals who don’t have access to employer-sponsored plans and find monthly premiums of ACA-compliant health plans unaffordable.
Short-Term Plans Significance during the PandemicShort-term insurance turns out to be a valuable option during the coronavirus pandemic, as it allows people to obtain coverage for a short duration of their unemployment period.
With the uncertainty looming over their jobs and even if they get a job then also their employers may impose 90 days waiting period before including them in the group health plan.
