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. Lapses in permanent coverage can be protected with ST plans. You can easily fill a gap with a very inexpensive policy. Child-only and dependent-only policies are available. Coverage can generally not be renewed when you reach age 65 since Medicare can likely provide comprehensive Senior benefits.

Policies are cheap and extremely flexible by allowing you to cancel coverage at any time. UnitedHealthcare and Anthem Blue Cross 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 offers several riders that can reduce out-of-pocket expenses from deductibles and coinsurance. Although all 10 “essential health benefits” may not be included, policies can be customized to offer quality protection.

A 12-month policy is also offered that utilizes the Aetna PPO network and provides a copay for Urgent Care visits. Other carriers offering plans include American Financial Security Life, Companion Life, National General, United Security Health, and Independence American. “Limited Benefit” plans are also offered by selective carriers, but don’t provide a cap on maximum out-of-pocket expenses. They also have a large application fee and are not the type of coverage we recommend.

When the Open Enrollment deadline is missed, these type of plans are often the best option. Also, since Marketplace effective dates are January 1, a temporary plan will provide coverage until the Exchange plan begins. If a new employer-provided plan has a waiting period, this type of policy will fill the void. Applicants who have no health issues and are not eligible for federal subsidies often consider ST plans.

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.

Temporary policies can be approved for up to 364 days and be renewed for up to 36 months of total coverage. The total amount of benefits must be $2 million or more. Additional required benefits include hospitalization, emergency services, ambulance services, and lab services. Office visit and prescription drug coverage is not required although most plans allow benefits to be added to the policy. Rate reviews are conducted annually, requiring carriers to publish proposed rate changes.

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. Benefits are flexible and can be customized to match a household budget. Applicants that are not US citizens or legal residents of the Hoosier State may be required to obtain specialized coverage.

Typically, a Blue Cross or a  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.” Coinsurance options are typically 0%, 20%, 30%, and 50%.

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. Mental health therapy, and any medical expenses related to pre-existing conditions also may not be covered. Cosmetic and experimental treatment is also not covered.

For a single child under the age of 19, Assurant was previously one of the few companies that offered benefits. However, several ST companies now offer “child only” policies, and rates are very low since claims are rarely submitted. Policies are offered until age 65. At that time, most persons are eligible for Medicare. “Guarantee Issue” options are also offered, although rates are higher, and  pre-existing conditions are not covered. In rare instances, Medicare eligibility may be offered before age 65.

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. Prescription discount cards are also often provided, offering reductions of up to 30%-50% off retail drug prices. On a larger claim, you can easily save thousands of dollars. Independent drug discount cards are also available, along with reputable government-sponsored prescription discount programs.

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. The type of plan (PPO or indemnity) and maximum out-of-pocket expenses per family member must also be considered. A $2 million cap is common, instead of unlimited coverage for qualified Exchange plans. UnitedHealthcare was one of the initial carriers to offer $2 million caps.

Indiana Short Term Monthly Rates For 2021 (deductible, coinsurance, and maximum benefit shown)

40-Year-Old Male in Indianapolis Area

$90  $10,000 Deductible, 0% Coinsurance, and $2 million (National General Enhanced $10,000 100% plan)

$102  $5,000 Deductible, 20% Coinsurance, and $2 million (National General Enhanced $5,000 80% plan)

$116  $5,000 Deductible, 20% Coinsurance, and $2 million (Companion Life Economy 5000 plan)

$170  $2,500 Deductible, 50% Coinsurance, and $2 million (Independence American STM OV 50%/2500 plan)

$191  $2,500 Deductible, 0% Coinsurance, and $2 million (National General Enhanced $2500 100% plan)

$332  $1,000 Deductible, 20% Coinsurance, and $2 million (Companion Life Deluxe 1000 plan)

 

Family Of Three (Male 40 Female 40 and child) in Indianapolis Area

$201 $10,000 Deductible, 0% Coinsurance, and $2 million (National General Enhanced $10,000 100% plan)

$231 $5,000 Deductible, 20% Coinsurance, and $2 million (National General Enhanced $5,000 80% plan)

$284 $5,000 Deductible, 20% Coinsurance, and $2 million (Companion Life Economy 5000 plan)

$415 $2,500 Deductible, 50% Coinsurance, and $2 million (Independence American STM OV 50%/2500 plan)

$458 $2,500 Deductible, 0% Coinsurance, and $2 million (UnitedHealthcare $2500 Medical Value 70% plan)

$883 $1,000 Deductible, 20% Coinsurance, and $2 million (Companion Life Deluxe 1000 plan)

 

50-Year-Old Female in Fort Wayne Area

$148 $10,000 Deductible, 0% Coinsurance, and $2 million (National General Enhanced $10,000 100% plan)

$167 $5,000 Deductible, 20% Coinsurance, and $2 million (National General Enhanced $5,000 80% plan)

$172 $5,000 Deductible, 20% Coinsurance, and $2 million (Companion Life Economy 5000 plan)

$272 $2,500 Deductible, 50% Coinsurance, and $2 million (Independence American STM OV 50%/2500 plan)

$292 $2,000 Deductible, 20% Coinsurance, and $2 million (Companion Life Choice 2000 plan)

$518 $1,000 Deductible, 20% Coinsurance, and $2 million (Companion Life Deluxe 1000 plan)

 

50-Year-Old Married Couple in Fort Wayne Area

$251 $10,000 Deductible, 0% Coinsurance, and $2 million (National General Enhanced $10,000 100% plan)

$285 $5,000 Deductible, 20% Coinsurance, and $2 million (National General Enhanced $5,000 80% plan)

$314 $5,000 Deductible, 20% Coinsurance, and $2 million (Companion Life Economy 5000 plan)

$529 $2,500 Deductible, 0% Coinsurance, and $2 million (UnitedHealthcare $2500 Medical Value 70% plan)

$544 $2,000 Deductible, 20% Coinsurance, and $2 million (Companion Life Choice 2000 plan)

$980 $1,000 Deductible, 20% Coinsurance, and $2 million (Companion Life Deluxe 1000 plan)

 

60-Year-Old Male in Evansville Area

$237  $5,000 Deductible, 20% Coinsurance, and $500,000 (Companion Life)

$282  $5,000 Deductible, 20% Coinsurance, and $1 million (National General)

$283  $5,000 Deductible, 20% Coinsurance, and $1 million (Companion Life)

$345  $2,500 Deductible, 20% Coinsurance, and $1 million (National General)

$427  $2,000 Deductible, 20% Coinsurance, and $1 million (Companion Life)

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 possible 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), Companion Life, and National General offer plans in many parts of the state.