When shopping for health/ life insurance for an individual moving to the United States it is important to consider whether the plan is permanent or temporary. But Evan, I thought all plans were permanent? Not quite….
When an individual is not a resident they can have their choice between a temporary and permanent policy. Why might an individual want a temporary policy? For a myriad of reasons including only being in the United States for a short period of time, waiting on resident status to jump on a group plan or just not being aware that policy has an expiration date.
Another reason is price. Generally, a policy less than one year in duration will be less expensive than a permanent policy. This makes sense when you consider a carrier just has to accept the risk for a short duration of time and the longer you are on a policy the higher the risk to the carrier that some illness or injury will occur. Under a permanent policy the carrier auto renews you at the end of your contract year. The carrier CAN NOT cancel you for injuries and claims (unlike car insurance).
For an analysis of permanent and temporary options for new immigrants or expats please give E&M Global a call at 800-974-5077
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