Best Short Term Health Insurance Companies of 2024

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Short term health insurance, also known as temporary health insurance, provides coverage for a limited time period, typically ranging from 30 days to 364 days. With short term health plans, you can get affordable health coverage to bridge gaps in health insurance during life transitions or changes.

As health insurance costs continue rising, short term health insurance has become an attractive option for those who are between jobs, recent graduates, early retirees, or anyone needing temporary coverage. These plans provide protection from unpredictable medical expenses at a fraction of the cost of traditional health insurance.

Finding the right short term health insurance company is crucial to getting good coverage at an affordable price. With many options available, it can be challenging to determine which companies offer the best short term health plans. This article discusses the key factors to evaluate when choosing a short term health insurance provider and reviews the top 5 companies of 2024.

Why Choose Short Term Health Insurance?

Here are some of the main benefits of short term health plans:

• Cost Savings – Premiums are typically 50-70% less expensive than comprehensive major medical insurance. This provides significant savings compared to COBRA or ACA plans.
• Customization – You can customize your coverage term length and benefits to meet your specific needs and budget. Plan terms are available from 30 days to 364 days.
• Flexibility – Short term plans provide flexibility between jobs, during employment gaps, or when transitioning off parent’s insurance. There’s no open enrollment period, so you can apply year-round.
• Immediate Coverage – Most short term plans can be activated as soon as the next day after applying and receiving approval. This avoids gaps in health coverage.
• Choice of Providers – Many short term health plans offer provider networks with thousands of doctors and hospitals to choose from across the nation.

For healthy individuals seeking temporary, affordable medical coverage, short term health insurance can be an excellent choice during times of transition and change.

Criteria for Evaluating Short Term Health Insurance Companies

When comparing short term health insurance providers, here are the key factors to consider:

• Financial Strength – Look for companies with strong financial ratings from agencies like A.M. Best to ensure they have the resources to pay out claims. Avoid providers with weak finances.
• Plan Flexibility – Choose companies that offer customized plan durations and benefits like doctor visit copays, prescription drug coverage, and hospitalization benefits.
• Deductible and Cost Sharing – Compare deductible amounts along with copays and coinsurance amounts to understand your potential out-of-pocket costs.
• Network of Providers – Look for a large PPO network with your preferred local doctors and hospitals in-network to minimize costs. Out-of-network expenses can add up.
• Customer Service – Evaluate customer service reviews and ratings. Good customer support can be vital when dealing with claims or coverage issues.
• Online Tools – The best short term health insurance companies offer online self-service tools to easily manage your plan, view benefits, find providers, access ID cards, and check claims.
• Prices and Discounts – Compare premium rates across plans with similar benefits to find the most affordable option. Some companies offer discounts when you purchase coverage online.

Keeping these key criteria in mind will help you select the best value short term health plan for your coverage needs and budget.

Top 5 Short Term Health Insurance Companies of 2024

Based on plan options, affordability, financial strength, and service, here are the top 5 recommended short term health insurance providers for 2024:

• Everest Insurance – Offers highly customizable nationwide PPO plans with optional dental and vision benefits. Excellent online tools and mobile app. Discount programs available.
• UnitedHealthOne – Financially strong company with broad provider networks. Competitive rates and great plan designs. Good choice for multi-state coverage.
• Cigna – Globally recognized brand offers flexible short term plans with 10-30% premium discounts when you apply online. Strong customer service reputation.
• Blue Cross Blue Shield Axis – Access to the large BCBS provider network makes this a great choice if you want providers who accept BCBS insurance. Multiple deductible and coverage options.
• Aetna – Digital-focused plans from a leading insurer. Use mobile ID cards and the Sydney Health app to find providers and manage benefits. Large network of doctors and hospitals.

These top-rated insurance carriers offer competitively-priced short term health plans with excellent coverage, benefits, and service. Reviewing plan details for your specific health needs and budget will help you select the right provider.

How to Choose the Right Short Term Health Insurance Plan

Follow these steps when choosing the ideal short term health insurance plan:

• Determine the coverage duration you need – Consider whether you need a 30 day, 60 day, 90 day or longer plan term. Shorter durations typically have lower premiums.
• Estimate your expected health care usage – If you regularly see doctors or take prescription medications, choose a plan with lower deductibles and more generous benefits.
• Select your preferred provider network – Search for companies that offer access to your existing doctors and hospitals so you can minimize out-of-pocket costs for in-network care.
• Compare benefit levels – Look for plans that provide adequate coverage for services like doctor visits, urgent care, hospital stays, and emergency room treatment. Avoid skimpy plans that offer little real coverage.
• Evaluate deductibles and out-of-pocket costs – Understand how much you’ll pay for care before the insurance starts covering expenses. Higher deductible plans have lower premiums.
• Consider adding optional benefits – Some plans allow you to include dental/vision benefits and maternity coverage for an additional cost. This can enhance your protection.
• Check exclusions and limitations – Make sure you are aware of any excluded pre-existing conditions or services that are limited. Read the fine print.
• Review premiums and discounts – Compare total monthly costs across plans and look for discounts if you purchase online or pay annual premiums upfront.

Selecting the right short term health insurance plan takes research and examining the plan details. However, finding affordable, quality temporary coverage is well worth the effort and provides valuable protection.

Conclusion

Short term health insurance provides a flexible and cost-effective way to get temporary health coverage during times of transition. Top insurance companies like Everest, UnitedHealthOne, Cigna, Blue Cross Blue Shield Axis, and Aetna offer quality plans at affordable rates.

Key factors when selecting a short term health insurance provider include financial strength, customization, robust networks, customer service, online management tools, and competitive pricing. Comparing benefits, deductibles, and premiums across plans will help you find the right plan match for your health and budget needs.

With some wise planning, you can get quality short term health insurance to provide protection from unpredictable medical costs. During life changes and transitions, temporary health plans can provide the coverage you need at a price you can afford.