Short-Term Health Insurance South Dakota

Short-term health insurance is a limited duration plan offering coverage ranging from several months to a year. These plans were specially designed for individuals who required temporary medical insurance to bridge the gap between major health plans. Short-term plans provide individuals with temporary medical coverage when they are between health plans, outside enrollment periods, or require health coverage for a medical emergency. Thus, residents of South Dakota who are looking to purchase short-term plans need to be aware of a few vital facts related to this plan, so that they can smartly shop for this plan when required. Short-term plans in South Dakota are subjected to state regulations and this plan is non-renewable and cannot be more than six months of terms. Besides, the state statute also requires short-term health insurance providers to file a statement certifying that short term plans are not sold as an alternative for a major medical plan and it is a supplemental insurance plan.

Vital Statistics related to Short-term Plans

Short-term plans in South Dakota are subject to state regulations and are more restrictive compared to federal rules.

Four health insurance carriers are offering short-term plans in South Dakota.

Short-term health insurance plans in South Dakota are nonrenewable and cannot be for more than six months.

These plans are cheaper than individual and family plans.

Short-term plans have annual and lifetime caps on coverage.

When to Buy Short-term Plans in South Dakota?

Short-term plans are more affordable plans compared to ACA-compliant plans because these plans do not provide coverage for pre-existing conditions. Though a short-term health plan is a temporary coverage option, still this plan appears to be an attractive option in the following situations.

If individuals missed open enrollment for ACA-compliant plans and they are not even eligible for a special enrollment period.

If a person has joined a new company and has to wait for a limited duration to be covered under the employer-sponsored plan.

Few months are required for a person to become eligible for Medicare.

Individuals who are trapped in the ACA’s family glitch.

Individuals who earn more than 400% of the poverty level and are ineligible for premium subsidies and hence cannot afford ACA-compliant plans.

Health Insurance Carriers offering Short-term Plans in South Dakota

The following four health insurance carriers are offering short-term health plans in South Dakota:

Everest

National General

UnitedHealthcare (Golden Rule)

Sanford