Solved: "finance and health insurance". What are the advantages and disadvantages of different

“finance and health insurance”. What are the advantages and disadvantages of different types of health insurance benefits packages that you have participated in or know about?

Expert Answer

Short Term Health Insurance

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Advantages :

  1. Its very affordable that can cost half of what is charged for an affordable care act health plan.
  2. In which if we have savings than we can used to buy other care plans such as dental or vision.
  3. It has broad network of healthcare providers and is accepted at top hospitals.
  4. Application can be submitted for insurance at any time during the year.


  1. It has no coverage of pre-existing medical conditions.
  2. Pre-existing conditions evaluated as part of application approval process: applicants can be rejected.
  3. Medicines which can be prescribed by doctor may not be covered.
  4. Some medication not covered like maternity.

Employer-Based Insurance

Advantages :

  1. Often has a broad array of health insurance benefits.
  2. Lower rates premiums are avaiable due to significant subsidization from employer or sometime it would be totally free all charges are paid by employer for his employee.
  3. It is not treated as taxable benefits for employee
  4. That can covered the charges of medicines 30 days before the admission in hospital and 60 days after the discharge from the hospital. But these medication is prescribed by the doctor and for the same treatment.


  1. Choices are limited to selection approved by employer.
  2. Small employer often subsidize health insurance at a lower level than large employers.
  3. Health insurance discontinues when the employee left the employer.

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