Best Short-Term Health Insurance in Indiana (2024)

Short-term health insurance fills gaps for people who experience a lapse in coverage because they are between jobs or waiting for Medicare to kick in. These policies don’t need to meet Affordable Care Act standards, meaning they don’t usually offer essential health benefits and can reject those with pre-existing conditions. Coverage lasts from weeks to months, but less than a year, although you can extend it beyond the initial term.

In Indiana, MoneyGeek determined that the best overall short-term health insurance provider is National General Accident & Health, followed by Companion Life Insurance Company, with scores of 95 and 78, respectively. Nevertheless, the best company depends on your needs.

Short-term plans may not offer the coverage you need in the long run. If cost is an issue, research marketplace options and determine whether you qualify for subsidies. That way, you’ll find the right long-term coverage at an affordable price.

Based on maximum out-of-pocket (MOOPs) costs and other cost-sharing options, MoneyGeek's study ranked the following companies as the best short-term health insurance providers in Indiana:

• National General Accident & Health: 95 out of 100
• Companion Life Insurance Company: 78 out of 100
• Independence American Insurance Company: 70 out of 100

Companion Life Insurance Company and Independence American Insurance Company have similar average MOOPs — $12,438 and $12,833, respectively. Meanwhile, National General Accident & Health is undeniably the most affordable, with an average MOOP of $7,500.

National General Accident & Health offers the cheapest short-term health insurance in Indiana for budget-conscious consumers. This insurer charges an average maximum out-of-pocket cost of $7,500.

When shopping for an affordable insurance policy, it's tempting to focus on the monthly premium. But out-of-pocket costs are another important consideration. Make sure you pick a plan that meets your needs and fits your budget.

When people between jobs shop for short-term health insurance plans, they must consider out-of-pocket costs. Low premiums usually mean high MOOPs, so such plans may not suit those requiring frequent medical attention.

MoneyGeek focused on monthly premiums and cost-sharing options to determine the best short-term health insurance companies in Indiana for unemployed individuals. These are:

• National General Accident & Health: $143 per month
• Companion Life Insurance Company: $145 per month
• Independence American Insurance Company: $171 per month

While the first- and second-place companies are cheaper, our research revealed that Independence American Insurance Company offers more plan options.

Short-term health insurance can fill gaps in coverage when you're between jobs, switching to a new plan or if your current policy is canceled. As its name implies, it isn't intended as a long-term solution, unlike a marketplace plan.

Keep in mind that short-term health insurance plans cover limited services. They may not cover all of the essential health benefits required by the Affordable Care Act for individual and family plans.

In Indiana, short-term plans are required to have a maximum benefit of at least $2 million. Previously, short-term plans were limited to six months and could not be renewed. Now, the state allows policyholders to keep plans for 364 days and then renew.

To help you better understand short-term health insurance in Indiana, MoneyGeek answered common questions, including what it covers and how long you can keep or stay on it.