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There is been a much higher demand for the short term health policies here in Indianapolis than in the past. I think the reason for this is the lower cost of the short term policy.
In the past short term policy were manily used by students and singles that were in transition from one health plan to the other. Now it has changed a great deal. We are seeing families looking into short term policies. A family that would cost $400 a month on an H.S.A can pick up a short term for $100 a month. With so many dual income families losing one of those incomes these short term policies are becoming serious options.
We have seen a variety of short term plans hit the market in the last 3 years. In the past there were only emergency room type policies to choose from. Now we are seeing co pay type plans being introduced. These co pay plan might even have a rx benefit. So now a client can choose what level of short term policy they would like.
If you are serious about taking out a short term policy then you should be looking at a company that owns their own network. The reason for this is you have to use it you want the deepest discounts available. The deepest discounts are going to come from companies like UnitedHealthcare and Anthem. Smaller carriers can be competitive in this market but I would advise a client to take a short term policy form a national carrier.
If you do take out a short term policy remember that policy is not re newable. This is a major different when comparing short term policy with a long term. So if you get diagnoised with something major you might have trouble finding a policy to cover you. This is a very serious issue when comparing.
In the near future I expect to see short term policies that have 11 month terms. That mean you will be able to take a policy out for almost a year. I see this a quick fix not only for the very young but the family market too.
