Can You Renew Short Term Health Insurance? 
The general answer to your question is `` Yes . '' Though the renewal policy varies from insurance carrier to insurance carrier and may also be impacted by insurance department requirements in your state . Most short term medical policies can be renewed at least once and with some carriers and in some states perhaps up to three times . As a consequence of rising health insurance rates for ObamaCare compliant individual major medical policies for persons who qualify for little or no premium subsidies in the government health insurance marketplaces the interest in Short Term Major Medical plans has increased significantly . Insurance carriers have been modifying their Short Term Medical policies to take advantage of this opportunity and so there are many more options being made available and being offered for longer terms -LRB- some up to 11 months -RRB- than has historically been the case in this product segment . Short Term Major Medical insurance can be an affordable option for individuals who can pass relatively simple underwriting screening and who have no pre-existing condition concerns . A person considering this option should seek the services of an insurance broker who represents multiple carriers and who can help you find the policy best suited to your needs . You should also be aware that a Short Term Major Medical Plan does not qualify as minimum essential coverage under the terms of the Affordable Care Act and that you will be subject to a tax penalty of $ 95 or 1 % of your Modified Adjusted Gross Income -LRB- whichever is greater -RRB- on your 2014 taxes . However , this penalty can only be recovered from a tax refund and the premium savings may far outweigh any potential tax penalty some individuals might be faced with . 