You may consider purchasing temporary medical insurance in Louisiana if you need to bridge a gap between long-term plans when changing jobs, while waiting for open enrollment or before qualifying for Medicare.
Short-term health insurance policies don’t meet ACA compliance requirements, so they generally don’t cover essential health benefits or pre-existing conditions.
According to MoneyGeek, National General Accident & Health is the best overall short-term medical insurance provider in Louisiana, scoring 95 out of 100. The second-best provider in the state is Everest Reinsurance Company, scoring 85 out of 100. The best company for you will depend on affordability and how the plan matches your healthcare requirements.
While short-term policies bridge the gap in health insurance, you should not use them to substitute marketplace plans, which offer all the core benefits. Check whether you qualify for subsidies that can help you purchase a marketplace plan at a rate similar to short-term insurance.
Best Companies for Short-Term Health Insurance in Louisiana
To determine the best short-term health insurance companies, MoneyGeek analyzed the pricing, plan options and cost-sharing choices for thousands of plans. Within each state, plans were aggregated by company to compile an overview of a short-term health insurance provider. In determining the best short-term providers for specific categories, weights were redistributed to take into account the goal of the health insurance plan.
Please be advised that the costs provided are averages. Actual rates will vary based on consumer profile and location.
Best Overall Short-Term Health Insurance in Louisiana
The best overall short-term health insurance in Louisiana, based on MoneyGeek scores, comes from:
- National General Accident & Health: 95 out of 100
- Everest Reinsurance Company: 85 out of 100
- Companion Life Insurance Company: 63 out of 100
MoneyGeek rated these companies based on their average out-of-pocket maximums (MOOP) and cost-sharing options.
National General Accident & Health and Everest Reinsurance Company have MOOPs of $7,500 and $7,958, respectively. Companion Life Insurance’s MOOP of $12,438 is significantly higher.
National General Accident & Health
Based on MoneyGeek's research, National General Accident & Health is the best overall health insurance provider in Louisiana, scoring 95 points out of 100. The company offers short-term health, dental, homeowners, car and small business insurance policies.
Rated A+ by BBB and A- by AM Best, National General Accident & Health offers PPO plans with varying term lengths, prescription drug coverages, cost-sharing options, waiting periods and application fees.
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You may want to opt out of purchasing short-term insurance while waiting for a long-term plan. This is not wise, as an accident or emergency can cost tens of thousands in medical costs.
Best Cheap Short-Term Health Insurance
MoneyGeek’s findings indicate that National General Accident & Health provides Louisiana’s cheapest short-term medical insurance. This insurer’s average maximum out-of-pocket cost is $7,500, the lowest in the state.
Louisiana residents on a budget may find cheaper health insurance plans from National General Accident & Health. However, low-premium plans usually feature high out-of-pocket limits, so always confirm that they offer sufficient coverage for your medical needs.
National General Accident & Health
National General Accident & Health has offered various health insurance products for 75 years. It has more than 49,000 agents and brokers across the United States. MoneyGeek ranked the company as the top provider of cheap short-term medical insurance in Louisiana, giving it a score of 95 out of 100.
In addition to having the lowest average MOOP of $7,500, the company provides several PPO plans with varying cost-sharing options to suit diverse coverage needs.
Short-term health insurance temporarily covers a lapse in long-term coverage. A short-term policy only protects against accidents and other unexpected health-related issues like surgery.
Since short-term health insurance plans are not ACA compliant, they may not provide essential health benefits or cover pre-existing conditions. In addition, if you develop a serious medical condition while using a temporary plan, the company can refuse to renew your policy.
Best Short-Term Health Insurance Between Jobs
The best short-term health insurance between jobs depends on the cost of coverage and available cost-sharing options. Plans with lower premiums usually feature high MOOPs and are ideall for those with few medical needs.
MoneyGeek’s top pick for the best providers of health insurance for one month in Louisiana based on premium costs and plan choices are:
- Everest Reinsurance Company: $158 per month
- UnitedHealthcare: $172 per month
- Companion Life Insurance: $181 per month
While the three companies have average premiums, Everest Reinsurance Company offers almost double the number of plan options.
Everest Reinsurance Company is a leading short-term health insurance provider with over 40 years of service. The company offers varying deductibles, copay amounts, co-insurance percentages, coverage periods, and monthly or prepaid plans suitable for those between jobs.
Aside from low out-of-pocket limits, Everest Reinsurance Company customers also enjoy low deductibles, term lengths as short as three months and out-of-network coverage. However, none of the company’s plans offer generic prescription drug coverage, and some have high application fees.
MoneyGeek recommends extending your short-term health insurance policy only when necessary — for instance, if the start date of your new job changes or open enrollment is in a few months. Louisiana individuals looking for affordable long-term health insurance should consider marketplace plans, including Catastrophic, Bronze and high-deductible options with lower premiums that still meet ACA standards.
How Does Short-Term Health Insurance Work in Louisiana?
Short-term health insurance aims to supplement long-term coverage for a few months while you seek to renew your long-term policy or purchase a new one. That means you should only use your short-term plan temporarily and not as a replacement for a preventive plan.
In Louisiana, short-term health insurance plans follow the Federal duration limit, meaning you can get a plan for an initial term of 364 days with the option to renew for up to three years.
How to Buy Short-Term Health Insurance in Louisiana
Several companies offer short-term medical insurance plans in Louisiana. MoneyGeek recommends taking the following steps to find the best plan for your needs.
Determine How Long You Need Coverage
Short-term medical insurance plans can last a few months to one year. In Louisiana, you can renew your policy for three years maximum. Determine how long you’ll need to use your short-term plan to avoid gaps in your health insurance coverage.
Assess Your Health Care Needs
Most short-term health insurance policies do not cover pre-existing conditions and may lack other essential health benefits since they are not ACA compliant. To find a suitable short-term plan for your needs, check whether it covers services like prescriptions and offers immediate coverage. Additional considerations include out-of-pocket costs, application fees, and other plan charges.
Research Providers and Available Plans
Each short-term health insurance plan in Louisiana has unique features and benefits. To secure the best policy for your situation, review options from different providers. Consider premium costs, cost-sharing options, deductibles, out-of-pocket costs and other similar features.
Temporary health insurance is only meant for emergency treatment and cannot be used to replace marketplace plans. Short-term health insurance and ACA-compliant plans have significant differences.
Short-term health insurance provides coverage from a few months to a year, with the option to renew. Meanwhile, ACA-compliant health insurance plans are meant for the long term, but you can only purchase them during the open enrollment period.
Unlike longer-term plans, most short-term health insurance plans lack essential health benefits and do not include coverage for pre-existing conditions. However, they don’t have specific enrollment periods and are ideal if you need emergency coverage.
FAQs About Short-Term Health Insurance in Louisiana
To help you determine the right plan for your unique circumstance, MoneyGeek answered commonly asked questions about health insurance for short-term use in Louisiana.
About Brenna Kelly, Licensed Health Insurance Agent
- National General Accident & Health. "Get Free Health Insurance Quotes Online Today." Accessed August 17, 2022.
- National General Accident & Health. "National General Plans - Short Term Health Insurance Plans." Accessed August 17, 2022.
- Everest Reinsurance Group Limited. "Short-term Medical." Accessed August 17, 2022.
- Compassion Life. "Accident and Health Insurance Products." Accessed August 17, 2022.