Indiana short term health insurance plans can be purchased at extremely affordable rates. Temporary medical coverage is perfect for persons that are between jobs, laid off, graduating college or school, on COBRA, an early retiree or waiting for Medicare eligibility. You can easily fill a gap with a very inexpensive policy.
Policies are cheap and extremely flexible by allowing you to cancel coverage at any time. UnitedHealthcare and other carriers have extensive provider networks that also allow you to choose from most doctors and hospitals in the state. Among the largest carriers, they offer the best combination of price and benefits. National General, a smaller company, offers several riders that can reduce out-of-pocket expenses from deductibles and coinsurance.
Temporary Plan Details
These types of policies are normally purchased for periods of time between 30 days and 12 months. If you need coverage longer or for a defined time period, you may be required to answer additional medical questions, and possibly change to a different type of policy. Illnesses and accidents are always covered. But unlike more permanent options, dental, preventive and vision expenses are either subject to a deductible or not covered without a rider. As a result of recent legislative changes in 2017 and 2018, plans can only be issued for a maximum length of three months, although four consecutive plans can be purchased at the same time, providing one year of coverage. Before coverage terminates, additional coverage can be offered, subject to medical underwriting.
NOTE: You also may affect your eligibility for a HIPAA or COBRA plan by selecting a temporary contract. By not taking advantage of guarantee-issue options, you may be forfeiting valuable protection for pre-existing conditions. Also, international visitors and non-US citizens may not qualify for this type of policy. Instead, a special worldwide universal policy may have to be purchased. Rates are inexpensive and selected carriers underwrite these types of plans.
Typically, a Blue Cross (partner company is utilized) or UHC short term policy is approved within 24-48 hours. In some instances, a policy is approved within an hour of the application being completed. A discount is applied when the entire premium is paid, instead of payments each month. Deductible options range from $500 to $10,000, and several riders can be added to enhance the office visit and prescription drug benefits. Deductibles can be applied "per claim" or "per policy period." Since reaching your deductible and maximum out-of-pocket expense limit are unlikely, rates are much lower than an unsubsidized Marketplace plan. However, prescription drug benefits are often limited or capped. Thus, a chronic illness may result in high out-of-pocket drug costs.
For a single child under the age of 19, Assurant was previously one of the few companies that offered benefits. However, most ST companies now offer "child only" policies, and of course, rates are very low since claims are rarely submitted. Policies are offered until you reach age 65. At that time, most persons are eligible for Medicare. "Guarantee Issue" options are also offered, although rates are higher, and of course, pre-existing conditions are not covered.
Plan benefits include doctor office visits, prescriptions, emergency room services, inpatient and outpatient procedures and major medical expenses. By using Network providers, you’ll receive “repricing discounts” that can reduce your out of pocket expenses. On a larger claim, you can easily save thousands of dollars. And proof of coverage can be easily verified.
Alternative To More Expensive Plans
Temporary plans are very popular alternatives to expensive Marketplace coverage, if there are no major existing medical conditions, and household income is too high to qualify for a federal subsidy. Annual savings can potentially exceed thousands of dollars per year, with the possibility of lower deductibles. However, the tax penalty of 2.5% of household income applies (ending in 2019), and maximum out-of-pocket expenses per family member must also be considered. A $1 million cap is common, instead of unlimited coverage for qualified Exchange plans.
Indiana Short Term Monthly Rates (Deductible And Maximum Out-Of-Pocket Expenses Shown)
40 Year-Old Male in Indianapolis Area
$55 $7,500 Deductible, 20% Coinsurance, and $750,000 (LifeShield)
$59 $5,000 Deductible, 20% Coinsurance, and $750,000 (LifeShield)
$70 $2,500 Deductible, 20% Coinsurance, and $750,000 (LifeShield)
$81 $2,500 Deductible, 20% Coinsurance, and $1 million (IHC Group)
$210 $1,000 Deductible, 30% Coinsurance, and $2 Million (UnitedHealthcare)
Family Of Three (Male 40 Female 40 and child) in Indianapolis Area
$99 $5,000 Deductible and $15,000 Max Out Of Pocket (IHC Group)
$126 $5,000 Deductible and $6,000 Max Out Of Pocket (IHC Group)$132 $5,000 Deductible and $8,750 Max Out Of Pocket (National General)
$162 $2,500 Deductible and $5,000 Max Out Of Pocket (National General)
$204 $2,500 Deductible and $4,000 Max Out Of Pocket (National General)
$223 $5,000 Deductible and $15,000 Max Out Of Pocket (UnitedHealthcare)
$259 $1,000 Deductible and $2,500 Max Out Of Pocket (National General)
These rates assume each applicant qualifies medically for coverage, and meets the required underwriting guidelines. Benefits are also not payable for pre-existing conditions. A pre-existing condition is a bodily injury or sickness that was diagnosed or treated, or which produced signs and/or symptoms during the period before each applicant's effective date of coverage.
HCC, National General, and UnitedHealthcare are not always appropriate for persons with pre-existing conditions that have recently lost their group coverage through an employer. Purchasing a short-term plan instead of COBRA could possibly cause you to become ineligible for other plans that are “guarantee issue.” It is always advisable to review the plan summary and actual policy for specific coverage information. Exclusions, limitations, and benefit reductions (if applicable) should also be considered, when compared with guaranteed-approval options. We're always happy to help you select the right plan.
Did You Just Lose Your Medical Benefits?
Also, if you recently (within last 60 days) have been terminated from an existing individual or employer-provided group plan, you will probably qualify for an SEP (Special Enrollment) which entitles you to enrolling in a pre-approved Marketplace contract. Regardless if your income qualifies for a subsidy, you will be able to choose coverage from many more carriers than the alternative (short-term or Consumer Driven Health Plan). Medicare-eligible applicants can also choose policies from carriers that don't currently offer Marketplace plans. Cigna, UnitedHealthcare, Anthem, Aetna, and Humana are major companies that offer Senior coverage, but not private plans for applicants under age 65.
Regardless whether you choose COBRA, SEP, or a temporary policy, in November of each year, Open Enrollment begins, and you can compare dozens of plans from all of the companies that are offering coverage. You will not have to provide any medical information since your eligibility is guaranteed. It's a great way to cover unexpected life changes. Most carriers allow you to customize deductibles, coinsurance, and copays to meet your specific needs. Several counties will only have one available carrier, although by 2020, it is expected that multiple options will be offered in most counties.
To get your free quotes, you can furnish your zip code at the top of the page (where requested). You'll be able to compare temporary plans from UnitedHealthcare and the other top carriers. HCC, Anthem (also HCC), and National General offer plans in many parts of the state.