Health insurance may seem like a mundane task, but in reality, it’s something that can go a long way in protecting you and your family.
With health care costs on the rise, and no one knowing what the future will bring, you must have short-term health insurance to cover any unforeseen expenses.
This article will learn about the best short-term health insurance companies to help you get started.
What Is Short-Term Health Insurance?
Short-term health insurance is a type of health insurance that provides coverage for a limited time, typically 90 days or less. Short-term health insurance can help cover costs related to common medical conditions, such as a broken arm or a fever.
Short-term health insurance policies often do not have exclusions for pre-existing conditions and can generally be terminated or renewed.
Who Qualifies For Short-Term Health Insurance?
Short-term health insurance is designed for people who need temporary coverage for minor medical problems. This type of coverage usually lasts for around three months.
People who qualify for short-term health insurance include temporary medical conditions that will require occasional visits for treatment.
Those with employment-based health coverage include a group plan under an employer or an HMO from their employee’s company insurance provider.
Suppose your policy is short-term and meets other criteria. It can be transferred to another person or yourself if you separate from your original employer since the premiums are paid on a self-only basis while being covered by someone else’s policy.
In short-term health plans, rates are based upon age or gender and not on a state’s high-risk pool as long-term policies do.
Best Short-Term Health Insurance Companies
Here are five of the best short-term health insurance companies:
The Aetna insurance company is one of the largest in the United States. The company was founded in 1853 and operates in different markets, including health insurance, life insurance, and automobile insurance.
Forbes magazine rated Aetna as one of the best companies to work for. Aetna offers short-term health insurance at a variety of different rates.
2. Premera Blue Cross
The Premera health insurance company is based in Washington, D.C. It operates primarily in the Pacific Northwest market area, though it has made an entry into markets to the south within recent years.
The company offers short-term health insurance plans at different rates that vary by age and gender according to medical history factors such as smoking status or existing conditions during application certification periods before coverages begin.
Convenient payment options are also available for new members and include credit cards, or electronic funds transfers to receive premium payments.
3. Highmark Blue Shield (Highmark)
The Highmark health insurance company is one of the best-known names for short-term policies sold through employers’ group purchases such as 401(k) plans at companies, self-employed individuals, unions that cover the occasional employee, various government agencies, and government contractors.
Highmark is based near Pittsburgh and has been operating for over 70 years in multiple areas, including Pennsylvania, Florida, Ohio, and West Virginia. The company also operates within secondary marketplaces such as direct sales channels to individuals that have high-risk symptoms or conditions but are not yet covered under their health plan program at work.
4. Assurant Health (AHS)
Assurant Health, owned by MEGA Life & Annuity and TransNational Holdings (TNA), private companies headquartered in Omaha, Nebraska.
Assurant’s policy programs offer a wide range of traditional life insurance benefits such as disability coverage that can be stretched throughout an illness or due to trauma sustained by the insured individual during their lifetime term years, in addition to group health plans sold through various employers’ human resource departments or direct to the public along with Medicare Supplement policies.
The Anthem plan (Royal & SunAlliance) division is the most extensive and most storied of the national insurers for small business or self-employed health insurance programs.
The group originated in Colorado but now operates nationally as one of several subsidiaries owned Federally through Humana’s subsidiary Diamond Direct Insurance Company based within Indianapolis, Indiana.
Most people who work at these types of employers usually have access to various short-term, low-cost, and unusually cheap health insurance options.
It is important to note that some national health insurers in the United States, each with their own unique set of policies and benefits available to individuals and businesses.
The five companies listed here are just a tiny sample of those available, so do your research before choosing an insurer.
FAQ (Frequently Asked Question)
What are the benefits of short-term health insurance?
Short-term health insurance can offer peace of mind in knowing that you and your family are covered in the event of an unexpected illness or injury.
Short-term health insurance plans usually have lower premiums and limited benefits, so they may not be ideal for everyone. Still, they can provide a temporary solution if you need it.
Which companies offer short-term health insurance?
Some short-term health insurance companies offer policies generally available only to people who are not eligible for regular health insurance.
These policies may have lower premiums, but they may also have fewer benefits and less protection from financial losses in a severe health problem.
How much does it cost to be self-insured?
There is no one answer to this question as it depends on each individual’s specific needs and preferences.
However, generally, self-insurance can cost anywhere from a few hundred to tens of thousands of dollars per year.
What is a health maintenance organization?
A health maintenance organization (HMO) is a health insurance plan that provides comprehensive coverage for services such as doctor visits, hospitalizations, and prescription drugs.
Members typically pay a set sum each month to the HMO, paying the provider directly. This type of plan is popular among people who do not have access to comprehensive coverage through an employer or government program.