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short term health insurance

Is Short-Term Health Insurance for You?

A short-term plan is a catastrophic plan that is a cheaper option for individual health insurance. It’s not for everyone, but it will protect you from catastrophic medical costs. There are some things to note if you are interested in this plan.


  • These plans do not cover pre-existing conditions (some states offer a guaranteed issue option)
  • Do not cover existing medications, and new medications are usually subject to your deductible.
  • Do not cover preventative care at zero cost (some plans offer a copay benefit)
  • Do not count as comprehensive coverage under the ACA, which mandates you must have a comprehensive plan at least ten months out of the year to avoid a tax penalty. (This penalty was eliminated in most states in 2019) 


  • Do offer protections in the event you incur new, unanticipated medical costs.
  • Offer comprehensive health coverage at more affordable prices than ACA plans.
  • Do offer additional add-on accident or critical illness insurance products that will provide payouts that CAN be used towards your premiums or deductibles.

While these plans are less expensive than most individual plans on the market, you should also weigh the pros and cons of enrolling in a catastrophic plan. Call us today at 732-363-3888 to speak with an insurance broker to help you explore your options. 

Cosmo Insurance Agency is a full-service independent insurance agency based in Hackensack (Bergen County) and Lakewood (Ocean County), New Jersey that offers an all-encompassing range of insurance options for both individuals and businesses. Cosmo keeps its promise to assure an efficient and creative approach to the services we offer. Each of our clients experience a personalized and long-term relationship with us. Our New Jersey based team of health brokers guides our clients in helping them choose the most cost-effective options. By incorporating our knowledge of the insurance guidelines for healthcare, employee benefits, life insurance, self-insurance, dental, disability, and long term care insurance, we keep our clients up-to-date with affordable plans that cover all their specific insurance needs.