Best Short-Term Health Insurance Companies

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Why We Chose It: We chose Everest as best overall because it offers reasonable prices, has low deductibles, allows you to see doctors who are out of network, and includes wellness visits, emergency care, and mental health care.

Everest Reinsurance Company has been underwriting in the insurance market since 1973, and offers a wide range of rates and several benefits that other STM insurance plans do not have. Like all STM plans, Everest's short-term health insurance plans vary based on your age, health status, and how much you are willing to pay for deductibles and coinsurance. The plans we researched ranged from $77 to $195 per month.

Everest has an A+ (Superior) financial strength rating from AM Best. Deductibles range from $1,000, to $10,000, and maximum coverage benefits are $250,000 to $1,500,000. Coinsurance options are 50/50, 80/20, or 100/0, and all have copays of $40 or $50.

While there's a five-day waiting period for the routine wellness benefit, ER coverage starts the next day. To receive cancer benefits, the disease must be newly diagnosed 30 days after the plan start date. Everest policies can be purchased online, or you can visit its website or contact a representative.

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Why We Chose It: Pivot Health offers a budget-friendly basic STM coverage, with additional options available that cover specific things important to you, like prescription drugs or vision care.

Pivot Health, which started in 2015, underwrites its short-term health plans through multiple companies with an AM Best financial stability rating of A+ (Excellent). Pivot Health is currently available in 27 states and Washington, DC. The business is affiliated with the consumer advocacy group Communicating for America, which supports affordable health care for Americans. 

All plans have options of 20% or 30% coinsurance, and deductible is $1000. Maximum out-of-pocket coinsurance cost is $3,000 to $10,000, with annual coverage ranging from $75,000 to 2000,000 (for Indiana). 

Insurers that we researched charged from $68 per month to $77 per month for a three-month policy. Of the carriers we looked at, Pivot Health came in at the lowest cost (about $68 dollars per month). This “bare-bones” coverage basically pays for almost nothing until you have met the $10,000 deductible. However, this Pivot plan does allow you to see any doctor and covers mental health services. After the deductible has been met, a visit to the emergency room or an outpatient lab test or X-ray will only cost you the 20% coinsurance (in this scenario).

Pivot Health has an easy-to-use website. Select your state, age, gender, and specific insurance needs and it gives you quotes on available plans. You will need to enter your email address to get the quote, and agents are also available by phone to answer questions. 

Like most STM plans, exclusions include pre-existing conditions, pregnancy, and chiropractic adjustments. Once you’re enrolled, there’s a five-day waiting period for illnesses, 30 days for cancer, and six months to a year for some procedures (like a tonsillectomy).

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Why We Chose It: The IHC Group offers the most customizable plans of all the companies we researched. You get a wide range of deductibles and term lengths (from three to 36 months, depending on your state). Some plans offer the ability to add optional coverage for pre-existing conditions, which can be very important if you have one.

IHC Group is an organization of insurance carriers and affiliates that include Independence Holding Company, Standard Security Life Insurance Company of New York, Madison National Life Insurance Company, Independence American Insurance Company and IHC Specialty Benefits. IHC was created in 1980, and has an AM Best financial strength rating of A-. 

IHC offers a buffet of plan options, so you can choose the exact services you want.  Plans, prices, and coverage will depend on what state you live in, and you’ll need to request a quote online to see the exact offerings in your state and their costs. The plans we researched ranged from six months at about $104 dollars per month, to a 36-month policy for $298 per month. 

Examples of IHC’s offering include:

• A six-month policy, with a $10,000 deductible and $10,000 out-of-pocket maximum, no prescription coverage, and a $1 million cap on services. 
• A 12-month policy, with a $5000 out-of-pocket and deductible limit, no prescription coverage, and a $1 million cap on services. 
• A 36-month policy (if your state allows that) with a $6,000 deductible, and a $5 million dollar cap on services. You will also have a $40 copay to see a primary care doctor, and a $60 copay to see a specialist. Prescription drugs are covered with a $10 copay, but have a $3,000 limit. 

For all plans, you have the option of adding dental or vision coverage for a relatively low monthly cost. You can also add hospital insurance, prescription discount plans, and telemedicine consultation options.

Overall, for all states IHC serves, deductibles ranged between $2,500 and $10,000. The coinsurance options were 20%, 30%, 50%, 70%, and 80% with out-of-pocket maximums between $4,000 and $10,000, and service caps ranging from $1 million to $2 million. Pre-existing conditions (going back for five years) are typically not covered, but a few plans offer $25,000 in coverage. Each state will have different rules, so it is important to check all your options.

Most states require membership in Communicating for America, a national non-profit that supports affordable healthcare.

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Why We Chose It: Many insurers do not offer stand-alone STM healthcare insurance for children. We chose Everest for its overall lowest-cost plans for wide-ranging coverage for kids aged 2 to 25 years. Plus, Everest has an excellent track record and an A+ financial strength rating from AM Best.

Sometimes situations arise (a move to another state, divorce, etc.) where your child loses coverage or experiences a gap in healthcare insurance. Many families do not qualify while some kids are eligible for low-cost health insurance, based on family income, through CHIP, the Federal/State sponsored Children’s Health Insurance Program.

Everest is a good option if you want temporary coverage for your child that includes many services at a price that will not bankrupt you with high deductibles. 

Everest offers plans with a $2,500 deductible and $50 copays for doctor visits (the doctor can be out-of-network). The plans we researched ranged in price from about $57 to $172 dollars per month. The coinsurance is 20%, and the out-of-pocket limit is $7,500.  There’s no application fee, but there is a waiting period of five days.

Hospital services will cost you a $500 additional deductible per visit for the use of the ER. Additional deductible applies, then the plan deductible applies. However, the additional deductible is waived if the child is admitted to the hospital. 

Inpatient mental health services are covered at $100 per day, for a maximum of 31 days, and outpatient at $50 per day, for a maximum of 10 visits. This varies by state, as some states cover mental health, and some states exclude it.

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Why We Chose It: As the only provider that offers 36-month coverage (where allowable by state law), UnitedHealthcare won top choice for the longest policy options.

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 24 states. UnitedHealthcare has a Moody’s insurer financial strength rating of A1.

Quotes and comparisons are easily available on the UnitedHealthcare website. In some states, you must join a consumer organization, the Federation of American Consumers and Travelers (FACT), for an additional $4 per month charge. Policies vary in length from one month to 12 months, with the option for 36 months on the TriTerm Medical plan that is available in 18 states.

Some STM plans cover 100% of medical costs once you meet the deductible (0% coinsurance) or there are options where you pay 20%, 30%, or 40% coinsurance until you reach the annual maximum. You can also add prescription coverage.

Maximum benefits range from $500,000 to $2 million and are subject to exclusions (think maternity care, emergency services, preventative care, hospitalization, and pre-existing conditions). Coverage begins after you meet the deductible with options of $2,500, $5,000, $7,500, $10,000, or $15,000.

Depending on the plan, waiting periods vary, with a six-month waiting period for preventive care benefits, and 12 months for eligible pre-existing conditions.

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Why we chose It: UnitedHealthcare, the largest healthcare provider in the United States with more than 53 million enrollees, offers the most generous coverage amounts of all the fixed indemnity plans we looked at.

Fixed-payment or fixed-indemnity coverage pays you or your provider a predetermined amount for each day (or another time period) you are hospitalized or receive a medical service (e.g. doctor visit). It can be purchased in addition to any other insurance, often as a back-up in case your primary insurance does not cover all expenses. While these plans may accept people with pre-existing conditions, they also have a set limit on how much they’ll pay for each medical situation.

The UnitedHealthcare indemnity plans we researched, called the Health ProtectorGuard, cost from $52 to $139 dollars per month, but costs will vary based on your age and health history. Typical coverage includes $1,000 to $5,000 per day for inpatient hospital confinement, $2,000 per day for ICU care, $100 per visit for inpatient physician visits, up to $10,000 per day for surgical costs, $100 per day toward preventive costs, and a pharmacy discount card. UnitedHealthcare is available in 35 states and has an AM Best financial strength and stability rating of A-(Excellent). Policies can be purchased online or you can call UnitedHealthcare with questions.