Short Term Insurance Glossary Assurant Health is the brand name used for products underwritten and issued by Time Insurance Company. As you search for affordable health insurance, you may find words and terms that are unfamiliar. This glossary, while not comprehensive, is intended to help clarify some of the specialized terminology you may encounter as you research private short term insurance options to cover you and your family during times of life transition. When you are considering options for short term insurance, remember that each state has its own set of rules. Find the most accurate information about individual medical insurance available in your own state. COBRA insurance Continuation of benefits under a previous employer's plan after an employee leaves. Provide continuity of full care, but not necessarily affordable health insurance. Short term medical coverage is a COBRA alternative. Covered illness or injury An expense that is: 1) incurred for services, treatment or supplies prescribed by a physician; 2) incurred by a covered person as the result of sickness or injury; 3) incurred for medically necessary care; and 4) incurred while a temporary medical insurance policy is in force. Covered medical services Medically necessary treatments that occur during the period of coverage under a short term insurance policy, as defined and set forth in the policy itself. Federal Health Insurance Portability and Accountability Act (HIPAA) of 1996 A federal law that governs temporary health insurance continuation after an employee loses his or her job (among other things) Insurance contract The actual short term insurance policy that specifically spells out every aspect of gap coverage, including plan exclusions, eligible covered medical services, etc. Plan exclusions A list of conditions, injuries, or treatments that would not be covered under a short term health insurance policy. Pre-existing condition Legal definitions of pre-existing conditions vary by state, but in general, these are medical conditions that a person has been treated for, is receiving treatment for, or that a prudent person would seek treatment for, during a specified period of time immediately preceding the purchase of interim health insurance. Premium A payment to an insurance company for health insurance coverage Short term medical policy A policy that creates individual health insurance during times of life transition