Looking for the best short term insurance providers? Look no further! In this blog post, we will discuss some of the top providers in the industry and what you can expect from them. Short term insurance is a great option for people who are between jobs or don’t have health insurance through their employer. It can also be a great choice for people who are temporarily living in another state.
Here Are Some of The Top Providers
- Best Overall: Everest
- Best for Longest Policy Options: UnitedHealthcare
- Best Value: Pivot Health
- Best for Customized Coverage: IHC Health Group
Everest
Why We Chose It:
We chose Everest as best overall for its low deductibles, reasonable prices, and having the most dynamic doctor visit coverage, including wellness visits, emergency care, and mental disorder care.
Pros and Cons
Pros
- Does not confine you to a network
- Low copay and coinsurance options
- Wellness benefit
- Home health care, physical therapy, mental health, and substance abuse benefits
Cons
- Prescriptions not covered (unless hospitalized)
- Pre-existing conditions not covered
- Only available in 25 states
Overview
Everest has been underwriting insurance since 1973. The company has a Moody’s insurance financial strength rating of A1 with various policy types on the market, including property, casualty, specialty, accident, and health insurance.1
They offer policies in 25 states across the country.
A few features of Everest STM include:
- Deductibles of $1,000, $2,500, $5,000, $7,500, or $10,000
- Maximum coverage benefits from $250,000 to $1.5 million
- Coinsurance options are 50/50, 70/30, 80/20, or 100/0 with copays of $40 or $50
- Wellness benefit to take care of preventive medicine
When you get approved, emergency coverage begins the next day, and there’s a five-day waiting period for the routine wellness benefit. There is a 30-day waiting period for cancer benefits (cancer must be newly diagnosed 30 days after plan start date) and a six-month waiting period for certain other covered services, such as tonsillectomy, herniorrhaphy, and more. Although Everest does not offer coverage for prescriptions, it does provide discount cards.
Why We Chose It: We chose Everest as one of the Best Short term health insurance overall for its low deductibles, reasonable prices, and having the most dynamic doctor visit coverage that includes wellness visits, emergency care, and mental disorder care.
United Health Care
Why We Chose It:
UnitedHealthcare was our top choice for the longest policy options because it is the only provider with up-to-36-month coverage where allowable by state law.
Pros and Cons
Pros
- Up to three-year policy available
- $5,000 prescription coverage available
- Preventive care wellness checks covered
- Some pre-existing conditions covered after 12 months
Cons
- Issue ages 19 to 65
- Reduced out-of-network coverage that can vary
- Required to join FACT in some plans
- Only available in 25 states
Overview
UnitedHealthcare underwrites its policies through Golden Rule Insurance Company, a part of UnitedHealthcare since 2003. The company has been selling short-term health insurance for over 30 years, and policies are available in 25 states. UnitedHealthcare has a Moody’s insurer financial strength rating of A1.2
Why United?
You can request a quote on United’s website to see what they would charge in your case. In some states, you must join the Federation of American Consumers and Travelers (FACT), and there will be an additional charge of $4 per month as a result. The FACT is a consumer organization that provides savings to members on 20 different benefits and coverages. The length of policies varies from one month to 12 months, with options to renew up to 36 months on the TriTerm Medical plan.
There are STM plans that cover 100% of medical costs after you meet the deductible (0% coinsurance) or options with 20%, 30%, or 40% coinsurance until you reach the annual maximums. You can also customize if your plan needs to include prescription medication.
Maximum benefits range from $500,000 to $2 million and are subject to exclusions, such as maternity care, accident-related events, emergency services, preventive care, hospitalization, pre-existing conditions, and prescription drugs. Coverage begins after you meet the deductible with options of $2,500, $5,000, $7,500, $10,000, or $15,000.
Waiting periods vary depending on the coverage in the plan. There is a six-month waiting period for preventive care benefits. Services related to eligible pre-existing conditions are only covered after 12 months.
Why We Chose It: UnitedHealthcare was our top choice for one of the Best Short term health insurance with longest policy options because it is the only provider with up-to-36-month coverage where allowable by state law.
Pivot Health
Why We Chose It
Pivot provides a vast selection of affordable basic coverages and valuable options so that you can get the right policy for the right price, with the ability to add numerous discounts for things like prescription drugs and vision care.
Pros and Cons
Pros
- No network (all doctors accessible)
- Access to 24/7 telemedicine
- Prescription discount and deductable options
- Home health care, physical therapy, substance abuse, and mental health discounts
Cons
- Very low maximums on the cheapest plans
- Requires emergency pre-certification within 48 hours
- Does not cover pre-existing conditions
- Only available in 27 states
Overview
Pivot Health has been around since 2016, managing over $7 billion in insurance premiums, and is affiliated with Communicating for America, a consumer advocacy group in favor of affordable healthcare for Americans. Pivot Health underwrites its short-term health plans through Companion Life Insurance Company, which has an AM Best financial stability rating of A+ (Superior).
Their Availability
They have easy-to-use online tools that help you prioritize your insurance needs before it gives you quotes, and it offers you a selection of available features, as well, such as up to 70% off prescription drugs. Clients will also receive discounts of 15% to 30% off eye exams, frames, lenses, and contacts, making this company stand out for excellent STM value.
A member can get a quote on the Pivot website to see what plans they offer in your area and what they charge.
You can choose deductibles between $1,000 and $10,000, and the maximum annual limits range from $100,000 to $1 million. All plans have coinsurance of 20% or 30%, and the maximum out-of-pocket cost for coinsurance is between $3,000 and $10,000.
Examples of some of their common exclusions include pre-existing conditions, immunizations, routine physical exams, and injuries resulting from extreme sports. The waiting periods are five days for illness, 30 days for cancer, and six months for certain specified items like a tonsillectomy.
Why We Chose It: Pivot provides a vast selection of affordable basic coverages and valuable options so that you can get the right policy for the right price, with the ability to add numerous discounts for things like prescription drugs and vision care.
IHC Group
Why We Chose It
The IHC Group offers low- to high-deductible options and the ability to add pre-existing condition coverage, making it the most customizable plan provider that we reviewed and one of the Best Short term health insurance options.
Pros and Cons
Pros
- Some plans with routine check-ups included
- X-rays and some other diagnostic exams included
- Option of using your own doctor in- or out-of-network
- Lifetime maximums up to $2 million
- Pre-existing conditions covered on some plans up to $25,000
Cons
- Sports-related injuries not covered
- Highly customizable plans may exclude many coverages
- High deductibles with some plans before you can access coverage
- May be required to join Communicating for America (CA)
Overview
The IHC Group is an organization of insurance carriers operating short-term insurance plans in 35 states, including member insurers such as Independence American Insurance Company.
Your policy will be serviced by one of these companies depending on where you live, and some states require membership in Communicating for America, a national non-profit organization whose mission is to promote health and wellbeing through member benefits. AM Best gives an A- (Excellent) financial strength rating to the IHC Group.
How Are They Rated?
AM Best has placed IHC’s financial strength and long-term issuer credit ratings under review after the company agreed to sell a 70% stake in its pet division and other assets.
Request a quote online to see what they offer in your state and how much they’d charge you.
Exploring a range of policies from IHC Group carriers, deductible options generally included $2,500, $5,000, and $10,000. The coinsurance options we found were 20%, 30%, or 50%, with out-of-pocket maximums between $4,000 and $10,000. Plans vary by state, and we found outliers with lower deductibles and higher out-of-pocket maximums.
Supplemental coverage for dental or hospital/surgery insurance can be added to plans, and IHC members are also offered prescription discount plans and telemedicine consultation options.
Common exclusions include pre-existing conditions, including anything treated or consulted upon within five years before coverage became effective. Exclusions are different by state and issuing provider. For example, the Independence American Insurance Company policy we reviewed did not pay benefits for chiropractic care, mental health treatment, or periodic health exams, but did include an option to cover $25,000 for pre-existing conditions such as known illnesses or injuries in the Connect Plus Plan.
Why We Chose It: The IHC Group offers low- to high-deductible options and the ability to add pre-existing condition coverage, making it the most customizable plan provider that we reviewed. You’ll also find other supplemental health options like telemedicine and prescription discount plans that improve the standard offerings and allow consumers to pick what is most important to them.
Final Verdict
United Health Care is largest healthcare provider in the country. They have a massive network as well as most states accept the coverage. If you want good short term insurance. UHC is my pick.