SHORT TERM MEDICAL PLANS
Short Term Medical Plans have set terms from 3 months to 36 months. These health insurance plans are significantly less than ACA Plans (Obamacare) because they do not fall under the ACA (Affordable Care Act). They do have not to cover pre-existing conditions from day 1 and none of them offer free wellness. They might provide some level of benefit for wellness depending on the company but it's never 100% covered. However, they are major medical health insurance plans. Most healthy families love this option since you have copays for doctors, walk in clinics, etc.
COVERAGE OPTIONS ARE FROM 1-36 MONTHS
Depending on what state, you can carry a short term medical for 1-36 months. After that period, you must reapply for the insurance and prove insurability.
MAJOR MEDICAL PLANS
These plans are considered "major medical" since they have a deductible, coinsurance, and a max out of pocket. They are the only Major Medical Plans that are not part of the ACA (Obamacare).
Short Term Medical Plans include PPO Networks that give the client's freedom to choose their own doctor and hospital. These networks are typically the biggest networks of doctors and hospitals in the country. Going "in network" can also save you a ton of money!
DOESN'T COVER PRE-EXISTING CONDITIONS
These plans are designed for mostly healthy individuals with no major medical conditions present. Pre-existing conditions are not covered. This is usually not an issue since most medications are generic these days and the conditions are easily managed with the proper medicine (i.e. blood pressure, hypothyroidism, cholesterol, acid reflux, etc.)
ARE NOT A PERMANENT INSURANCE OPTION
Short Term Medical Plans require you to reapply for insurance upon the end of the term. If you have been diagnosed with anything serious, the insurance coverage do not have to offer coverage. If found uninsurance, the only option would be to enroll in an ACA (Obamacare) plan.