The Best Short-Term Health Insurance Companies in 2024
Considering short-term health insurance? These plans are not created equal. We analyzed more than 3,000 data points to help you find the best option. Best overall company for short-term health insurance: UnitedHealthcare. Runner-up: National General Accident & Health
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By Deb Gordon
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CEO, Umbra Health Advocacy
Deb Gordon, the co-founder and CEO of Umbra Health Advocacy, has held executive roles in health insurance and health care technology services. She authored a book titled “The Health Care Consumer’s Manifesto,” based on her research as a senior fellow at Harvard Kennedy School’s Mossavar-Rahmani Center for Business and Government. Her works have been published on JAMA Network Open, Harvard Business Review blog, USA Today and RealClear Politics, among others. Gordon is an Aspen Institute Health Innovators Fellow and an Eisenhower Fellow. She was a 2011 Boston Business Journal 40 Under 40 honoree and a volunteer at MIT’s Delta V start-up accelerator, the Fierce Healthcare Innovation Awards. She earned her bioethics degree from Brown University and her MBA with distinction from Harvard Business School.
DG
By Deb Gordon
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Deb Gordon CEO, Umbra Health Advocacy Deb Gordon, the co-founder and CEO of Umbra Health Advocacy, has held executive roles in health insurance and health care technology services. She authored a book titled “The Health Care Consumer’s Manifesto,” based on her research as a senior fellow at Harvard Kennedy School’s Mossavar-Rahmani Center for Business and Government. Her works have been published on JAMA Network Open, Harvard Business Review blog, USA Today and RealClear Politics, among others. Gordon is an Aspen Institute Health Innovators Fellow and an Eisenhower Fellow. She was a 2011 Boston Business Journal 40 Under 40 honoree and a volunteer at MIT’s Delta V start-up accelerator, the Fierce Healthcare Innovation Awards. She earned her bioethics degree from Brown University and her MBA with distinction from Harvard Business School.
Updated: May 22, 2024 Advertising & Editorial DisclosureUnitedHealthcare earned MoneyGeek’s top ranking among short-term health insurance plans for having the most plans, more coverage for the cost, lower deductibles, low coinsurance and low out-of-pocket limits. Most of UnitedHealthcare's short-term plans cover prescription drugs.
National General Accident & Health was MoneyGeek’s runner-up because of its relatively good coverage-to-cost ratios and low application fees. It offers a lot of options with a range of out-of-pocket cost limits, increasing the chances you might find a plan that works for you.
Other companies do well on specific dimensions, offering decent options depending on the features that matter most to you.
Short-term health insurance is designed to cover temporary gaps in coverage, typically for one year or less though it can last longer. It does not provide comprehensive coverage or long-term financial protection for many health needs. Short-term plans don’t have to include essential health benefits or protections for people with preexisting conditions required in Affordable Care Act-compliant plans.
If you think short-term plans are a good way to save money on health insurance, think again. You might be able to get better coverage for less with expanded subsidies on Healthcare.gov or your state’s health insurance marketplace.
If you need temporary coverage, it’s smart to know what you’re getting when you buy a short-term plan.
Ensure you are getting the best rate for your insurance. Compare quotes from the top insurance companies.
MoneyGeek’s picks for the best short-term health insurance plans are UnitedHealthcare and National General Accident & Health. Monthly premiums for UnitedHealthcare’s short-term plans range from $21.18 per month to $659.96. That range for National General Accident & Health is higher, ranging from $35.57 to $872.90.
Offers the most short-term plan options
Most plans offer generic drug coverage
Highest application fee
Highest maximum out-of-pocket limit
Offers the most expensive plan
UnitedHealthcare offers a wide range of short-term plan options, making it more likely you’ll find one that works for you. Plans with low out-of-pocket limits, low or no coinsurance and low deductibles are available. Deductibles range from $1,000 to $15,000. UnitedHealthcare offers a wide range of options to suit different needs, form the cheapest and the most expensive.
Highest available coverage limit
Available in most states
Low out-of-pocket maximums
Longest general waiting period
Some plans have high out-of-pocket limits and deductibles
Cheaper plans generally not worth the cost
National General Accident & Health offers low coinsurance, low application fees, out-of-network coverage and several plans with generic prescription drug coverage. But many of the company’s cheaper options are not worth the money. On the other hand, its higher-end plans are among the best value for the cost. There’s only one short-term plan type, longer wait times and some plans with higher out-of-pocket costs.
National General Accident & Health performed the best in a state-level analysis of local health insurance providers. MoneyGeek collected pricing, plan options and cost sharing choices, then compiled profiles to compare companies.
Check your state to learn more about our analysis and to see more options for plans that fit your needs.
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Everest Reinsurance Company
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MONEYGEEK EXPERT TIPHealth insurance comes in many different flavors — or plan types. Each has benefits and drawbacks. It’s important to understand the options to figure out what best fits your needs.
Independence American Insurance Company offers 30 different plans and six term length options, earning it the top spot for Most Customizable. Its lowest deductible is $2,500 and its highest is $10,000. Monthly premiums range from $67.12 to $1,029.34.
Most plan options
Various term lengths to choose from
No waiting period or application fees
Not all plans offer out-of-network coverage
Though many plan options, only one plan type
Maximum out-of-pocket spending can be high
Independence American Insurance Company offers many term lengths. However, the shortest is six months, which may be longer than you need. With no waiting periods, no application fees and the cheapest plans for up to $2 million in coverage, these plans are more easily accessible than others. About half the plans offer generic prescription drug coverage.
MONEYGEEK EXPERT TIPIt’s impossible to predict all your future health needs, so choosing the best health insurance company for you can be hard. But making an educated guess about how much health coverage you’re likely to need and for how long can help. For example, if you know you’re starting a new job in a few months, short-term health insurance can give you peace of mind in that gap. But if you’re on a job search and unsure when it will end, choosing the wrong short-term plan could leave you exposed if that search lasts longer than you expect.
National General Accident & Health has some of the better options for “at-risk” people — those who are likely to use their health insurance due to complex health issues — because they offer some of the highest coverage limits. Monthly premiums range from $35.57 to $872.90. But plan deductibles range from $2,500 to a whopping $25,000.
Low out-of-pocket spending limits in some plans
Highest available coverage limit
High out-of-pocket spending limits and deductibles on some plans
Longest general waiting period
Cheapest plans not worth it
With low out-of-pocket spending limits, low coinsurance and high levels of coverage, National General Accident & Health offers some great options, especially for people with complex health needs. But beware of astronomical (up to $25,000) deductibles, which could mean you’re paying a ton out of pocket if you need services.
MONEYGEEK EXPERT TIPIf you’re likely to need more health care — if you have a chronic condition or a complex health history, for example, it’s important not to go without health coverage. It could cost you a bundle if you need services while you’re uninsured. Short-term health insurance can ensure you have at least some coverage but it’s smart to check your options. You may get better coverage for less money (or not that much more) with subsidies on Healthcare.gov and the state health insurance marketplaces.
Everest Reinsurance Company earned MoneyGeek’s pick for best short-term health insurance company for students and people who are in between jobs because it generally has low premiums and out-of-pocket spending limits, but still offers decent coverage. Monthly premiums range from $76.15 to $641.03, with deductibles ranging from $1,000 to $10,000.
Lowest out-of-pocket spending limits
Decent coverage for the cost
Short general waiting period
Available in the fewest number of states
Long waiting period for people with cancer
No generic prescription drug coverage
With plans ranging from three months to a year in length, Everest Reinsurance company offers good options for students or others with short-term coverage needs, like people who are in between jobs. Its plans provide out-of-network coverage, low out-of-pocket limits, low deductibles and good coverage for the cost. Often, plans with low out-of-pocket limits and coinsurance cost more in terms of monthly premiums and annual deductibles. Everest Reinsurance Company offers a good balance for people on a budget because the out-of-pocket and coinsurance costs are low, but premiums aren’t necessarily more expensive.
MONEYGEEK EXPERT TIPIf you’re unemployed, health insurance may feel out of reach. Short-term health insurance may be tempting because it can seem cheaper than buying coverage. But it may not be your best value, because there are so many ways to get health insurance even without a job or income. Check out all your options; you may be able to get better coverage for less by shopping around.
It’s wise not to go globetrotting, or even across state lines, without health insurance. If you get sick or injured on the road, it could cost you. If you need short-term coverage while traveling, Everest Reinsurance Company may offer the right plans for you. Monthly premiums range from $76.15 to $641.03.
Indemnity plan lets you get care almost anywhere
Low out-of-pocket limits and deductibles
Term lengths as short as three months
Available in fewest states
Only one short-term plan type available
No generic prescription drug coverage
With a short general waiting period and terms as short as three months, Everest Reinsurance Company plans can be great options for travelers. Out-of-network coverage and the indemnity plan design give travelers the flexibility to get care when they’re away from home.
If you take medications, it can be crucial to have health insurance. Even generic drugs can be expensive if you have to pay for them in cash. But you’ll want to make sure your insurance covers your prescriptions.
UnitedHealthcare was our pick for the best short-term health insurance company for generic prescription drug coverage because most of its short-term plans offer this coverage. Monthly premiums range from $21.15 to $659.96.
Most plans include generic drug coverage
Many options for plan types, term lengths and out-of-pocket spending limits
Short general waiting period
Highest application fee
Highest out-of-pocket spending limits
Most expensive short-term plan on the market
UnitedHealthcare, MoneyGeek’s pick for best overall short-term health insurance company, also wins for best generic drug coverage because most of its plans offer generic prescription drug coverage. Its plans also provide decent value, with the most low-cost plans that are actually worth the money. With deductibles from $1,000 to $15,000 and low out-of-pocket spending limits, some UnitedHealthcare plans are relatively inexpensive.
To get short-term health insurance, you often have to pay an application fee. These fees range from $0 to $40. Independence American Insurance Company is the best option for short-term coverage without an application fee. Monthly premiums range from $67.12 to $1,029.34.
No application fees
No waiting period
Many plan options
Shortest plan term is six months, which may be too long for some customers
Many plan options but only one plan type
Out-of-network coverage not available on all plans
If you don’t want to pay a fee to get short-term coverage, Independence Insurance Company offers the best options. Plans offering up to $2 million in coverage are relatively cheap and about half the plans include generic prescription drug coverage.
Application fees can be as high as $35 or $40 — more than the monthly premium for some plans. If you’re looking for short-term coverage, adding a whole month’s worth of expense or more may not make sense. Independence American Insurance Company saves you that extra cost, though its plans start at six-month terms.
Short-term health insurance plans aren’t right for everyone. They don’t tend to cover very much and they can be pricey. But, if you have a temporary gap in coverage and no other options, they can help you avoid being exposed financially if you need health care services.
Finding the best short-term plan can be overwhelming, but we’ve outlined the key steps you can follow, from assessing your needs to comparing options based on the criteria that matter most to you.
Short-term plans can last anywhere from three months to three years. If you know how long your coverage gap will last, like if you’re starting school or a new job at a particular time, you can choose the right plan duration. If you’re unsure, you may want to err on the side of longer coverage so you don’t get caught uninsured.
Remember that short-term health insurance is designed for temporary needs. If your gap in coverage could stretch longer than a few months or you don’t know how long it may be, it could be better to explore Marketplace plans.
Short-term health insurance companies aren’t required to offer all the essential health benefits covered by Affordable Care Act-compliant plans. Make sure you know what is covered in any plan you’re considering. If you know you have specific needs, such as a particular medication or access to a type of specialist, pay close attention to what those things will cost you on each plan. Narrow down your choices to plans that cover what you know you’ll need. If you have a complex medical history or a high risk of needing care, consider more comprehensive coverage, because you could spend a lot out-of-pocket on a short-term plan.
Not all plans cover you when you’re away from home. If you travel a lot or have upcoming travel plans, you’ll want to find a plan with out-of-network coverage. Indemnity plans are likely to offer you the most flexibility to see health care providers wherever you may be. On the other hand, you may want to avoid HMOs, EPOs or network plans, which restrict you to specific providers contracted with the plan. Those may look cheaper, but if you need services outside the network, it’s likely to be much more expensive if it’s covered at all.
A good rule of thumb is to spend about 10% of your income on health insurance. That may not be realistic, depending on where you live, because monthly health insurance costs can vary widely by state. When you’re thinking about what you can afford to spend on health insurance, don’t just look at the monthly premium. Consider the annual deductible (the amount you’ll have to pay out-of-pocket before the insurance kicks in) and other costs such as copayments and coinsurance (the percent of medical bills) that you’ll have to pay until you reach your out-of-pocket maximum or spending limit. Also, think about what you’re getting for your money. MoneyGeek’s ratings consider the coverage-to-cost ratio or the value of the coverage you’re getting with each plan.
If you have savings and no major health risks or conditions, you may be safe opting for a lower premium and higher deductible plan. But if you would struggle with huge out-of-pocket responsibilities, paying a bit more each month to know you’re covered may be worthwhile.
Health insurance that seems cheaper because of low premiums can cost you more if it doesn’t cover what you need. With expanded subsidies available on the health insurance marketplace, you may be able to spend less for better coverage.
MONEYGEEK EXPERT TIPFeeling overwhelmed? Start with whatever’s most important to you, such as the monthly cost or coverage for a specific drug, service or coverage when you’re away from home. Narrow down your search based on your needs and preferences and start with options that fit your criteria.
Short-term health insurance is designed for people who need to fill temporary gaps in coverage. For example, if you graduate from college and know you’re starting a job with benefits in a few months, short-term insurance may be a good low-cost option. Or, you may have started a job but have to get through a waiting period for benefits to kick in. Only go this route if you’re generally healthy with few health risks.
Short-term insurance is not ideal for people who are uninsured for longer periods or who have more serious health care needs. These plans aren’t required to cover things that other health insurance must include, such as maternity care or coverage for preexisting conditions.
If you suddenly find yourself without a job or health insurance coverage, and you can’t afford COBRA (which lets you keep your employer’s health insurance but requires you to pay the full cost), short-term health insurance could be a way to make sure you’re covered while you figure out a longer-term solution.
If you have a defined gap in coverage, such as after you graduate from college or graduate school but before you start a job, short-term insurance can be a relatively quick and inexpensive way to protect yourself.
Short-term health insurance may be a good option if you’ve got a job with benefits but you need to wait until you’re eligible for them. In this case, you know you’re going to be covered and can plan for that specific period.
Ensure you are getting the best rate for your insurance. Compare quotes from the top insurance companies.
Not sure if short-term health insurance is right for you? Overwhelmed by the options? See our frequently asked questions (FAQs) to help you get started.
Which company provides the best short-term health insurance?MoneyGeek identified UnitedHealthcare as the best overall short-term health insurance company. It offers a wide range of options and is available in many places. Most of its plans offer generic prescription drug coverage, which some companies do not.
National General Accident & Health is MoneyGeek’s pick for runner-up overall because it offers plans with low coinsurance, low application fees, plus out-of-network coverage and several plans with generic prescription drug coverage. Its higher-end plans are among the best value for what you pay.
What is short-term health insurance?Short-term health insurance is sometimes called “skinny coverage” because it doesn’t cover the same comprehensive set of services required in other insurance. It may cover emergency room visits and some prescription drugs and doctor visits, but it generally doesn’t cover preexisting conditions, maternity care or mental health. It’s meant to be gap coverage used in short, defined periods for people who don’t have complex health care needs.
How do you choose a short-term health insurance plan?Like any health insurance, short-term plans include a range of factors to consider: monthly costs (premiums), deductibles, coinsurance and coverage options are among them. Think about what matters most to you. Is it the amount you’ll spend each month or how much you might have to pay if you use health care services? Do you care about where you can get care or how much bureaucracy you have to go through? Do you take a specific medication or see a particular provider? Filter the options by these criteria, and you’ll be able to narrow down your search.
How much does short-term health insurance cost?Monthly premiums cost anywhere from about $20 per month to more than $1,000. But don’t just look at monthly premiums when considering how much a plan may cost. Look at the deductible, copayments, coinsurance and out-of-pocket spending limits, because those will give you a better sense of your total financial exposure. Also, look at coverage limits because anything beyond those will be on your dime.
To determine the best short-term health insurance companies, MoneyGeek analyzed more than 3,000 short-term health insurance plans from various companies across America, rating each company’s product offering based on the number of options, state availability, coverage-to-cost ratio, and more.
About Deb Gordon
Deb Gordon, the co-founder and CEO of Umbra Health Advocacy, has held executive roles in health insurance and health care technology services. She authored a book titled “The Health Care Consumer’s Manifesto,” based on her research as a senior fellow at Harvard Kennedy School’s Mossavar-Rahmani Center for Business and Government. Her works have been published on JAMA Network Open, Harvard Business Review blog, USA Today and RealClear Politics, among others.
Gordon is an Aspen Institute Health Innovators Fellow and an Eisenhower Fellow. She was a 2011 Boston Business Journal 40 Under 40 honoree and a volunteer at MIT’s Delta V start-up accelerator, the Fierce Healthcare Innovation Awards. She earned her bioethics degree from Brown University and her MBA with distinction from Harvard Business School.
