Short-Term Health Insurance in Nebraska
With a score of 95 out of 100, National General Accident & Health clinched the top spot on MoneyGeek’s list of the best short-term health insurance in Nebraska. It outshines its competitors by combining the most affordable rates with numerous plan options that can accommodate various health care coverage needs.
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Based on MoneyGeek’s analysis, National General Accident & Health and Everest Reinsurance Company offer the best short-term health insurance in Nebraska, with scores of 95 and 85 out of 100, respectively.
Short-term health insurance is a good temporary fix during periods when you experience a lapse in coverage, such as when you’re between jobs or have aged out of your parents’ policy. Typically, these plans only last for a few months up to a year, but they can be extended.
Because these health plans are not compliant with the regulations of the Affordable Care Act (ACA), they usually are cheaper but fail to cover essential health benefits and pre-existing medical conditions. As such, they shouldn’t be viewed as a replacement for marketplace plans which offer more comprehensive coverage. Fortunately, there are subsidies you can look into that might make marketplace plans just as affordable.
Best Companies for Short-Term Health Insurance in Nebraska
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 Nebraska
The companies offering the best short-term health insurance in Nebraska are:
- National General Accident & Health: 95 out of 100
- Everest Reinsurance Company: 85 out of 100
- Companion Life Insurance Company: 63 out of 100
These scores were based on average maximum out-of-pocket (MOOP) costs and the range of cost-sharing options.
While the top two companies have similarly priced average MOOPs at $7,500 and $7,958, respectively, Companion Life Insurance Company has significantly higher MOOP costs, averaging $12,438.
National General Accident & Health
With a near-perfect score of 95 out of 100, National General Accident & Health is the frontrunner in MoneyGeek’s analysis of temporary health insurance in Nebraska. Its expertise is backed by more than 75 years of providing accident and health insurance products, including short-term medical insurance.
It offers highly flexible policies nationwide, and buyers can choose from a wide range of term durations — anywhere from three months to 36 months. But be aware that some of its plans may have waiting periods and application fees.
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Although it might be tempting to forgo getting a health insurance plan, MoneyGeek cautions you against this. The money that you’ll save from not paying monthly premiums will seem insignificant compared to shouldering the full medical costs of just one accident or illness. For instance, an unexpected surgery could easily cost tens of thousands of dollars.
Best Cheap Short-Term Health Insurance
National General Accident & Health is the cheapest short-term health insurance in Nebraska, with an average MOOP of $7,500.
Lower premiums and higher out-of-pocket costs often go hand in hand. But you may optimize your savings on health insurance by ensuring you’re getting sufficient coverage that matches your needs.
National General Accident & Health
National General Accident & Health is not only the best overall short-term medical insurance company in Nebraska, but it is also the most affordable short-term health insurance provider across the state. It has the lowest average MOOP limits, and its plans are customizable to include exactly what you need, whether it be prescription benefits or urgent care. Additionally, policyholders are eligible for discounts through LIFE Association membership.
If you’re considering purchasing short-term health insurance in Nebraska, it is important for you to understand that this is not a replacement for a marketplace or long-term plan. Instead, it should be viewed as a temporary solution that protects you from the burden of unexpected medical expenses.
These plans usually don’t cover essential health benefits and pre-existing medical conditions, and you might still face a gap in coverage if your policy isn’t renewed.
Best Short-Term Health Insurance Between Jobs
Short-term insurance is one way to bridge a gap in health coverage for the unemployed.
If you find yourself requiring health insurance for one month or more in Nebraska, here are the standout companies that MoneyGeek recommends:
- Companion Life Insurance Company: $134 per month
- UnitedHealthcare: $140 per month
- Everest Reinsurance Company: $146 per month
These companies have comparable average monthly premiums ranging from $134 to $146. Even though it’s the most expensive of these three options, Everest Reinsurance Company makes up some ground by outperforming its peers with a wider array of plan options for splitting coverage costs.
Note that these scores were based on premiums and plan choices, and companies with higher-than-average premiums were excluded from the analysis.
MoneyGeek suggests that you only purchase a short-term health care plan if you don’t have a medical condition that requires a great deal of care.
Companion Life Insurance Company
Companion Life Insurance Company has been providing insurance products since 1971. For 20 years, the leading credit rating agency AM Best has given this company an A+ rating for financial strength, which means that it can easily meet its obligations to its customers.
Companion Life Insurance Company offers a wide range of health and accident insurance policies nationwide, including short-term medical policies, also known as short-term duration insurance. Its plans come with fairly low application fees and short general waiting periods. However, there are few options for term lengths, the MOOP can be quite high and there’s a long waiting period for cancer patients.
You may consider extending your short-term insurance coverage under certain circumstances. For instance, if the start date of a new job has been pushed back or if you’ll only need to wait a few more months until open enrollment starts. But only view short-term insurance as a temporary solution and not as a permanent or regular replacement for a marketplace plan. There are marketplace plans, such as Catastrophic, high-deductible and Bronze plans, which give comprehensive benefits at affordable rates.
How Does Short-Term Health Insurance Work in Nebraska?
Short-term health insurance is a temporary substitute for a long-term marketplace plan during periods when you experience a lapse in coverage. Some of the more common scenarios when this may apply are when you’re between jobs, after aging out of your parents’ health insurance policy or when you’ve missed open enrollment. Ideally, it should only last for a few months, wherein it serves as an emergency backup strategy rather than a preventive plan.
According to federal guidelines, short-term health insurance in Nebraska should last an initial term of 364 days with the option to renew up to a maximum duration of 36 months.
How to Buy Short-Term Health Insurance in Nebraska
Don’t let the complexities of health insurance keep you from finding the best temporary health insurance in Nebraska. Below are the essential steps that MoneyGeek recommends you take to make sure you’re getting the right coverage for your immediate health care needs.
Determine How Long You Need Coverage
Ideally, short-term health insurance should be a temporary solution that lasts for only a few months. That said, you must evaluate how long your gap in coverage will be and select a plan that matches it.
Assess Your Health Care Needs
Another key factor to consider is the extent of health care that you require. Minimize your out-of-pocket costs by choosing a plan that covers your needs, be it prescription medications or urgent care.
Research Providers and Available Plans
Shop around and compare the plan types and coverages of multiple providers and weigh these options against your needs to make sure that you’re getting sufficient coverage at the best rates. Carefully review these available options before finalizing your purchase.
Even the best short-term health insurance is no match for a marketplace plan. Although it is a good temporary fix that gives emergency coverage, a short-term plan should ideally last for only a few months.
The main difference between short-term health insurance vs. ACA-compliant marketplace plans is that short-term plans are not categorized as essential coverage and aren’t required to meet federal guidelines. As such, they provide limited benefits, especially concerning the 10 essential health benefits (EHBs) and pre-existing medical conditions.
MoneyGeek suggests that Nebraskans who need more medical care refrain from using short-term insurance and instead opt for marketplace plans if the situation permits.
FAQs About Short-Term Health Insurance in Nebraska
If you need immediate health coverage, it helps to know that there are sound options to choose from. Read MoneyGeek’s answers to the most frequently asked questions to learn more about short-term health insurance in Nebraska.
About the Author
- Companion Life. "About Companion Life." Accessed August 17, 2022.
- Companion Life. "Accident and Health Insurance." Accessed August 17, 2022.
- Healthcare.gov. "When Can You Get Health Insurance?." Accessed August 17, 2022.
- National General Accident & Health. "Individuals." Accessed August 17, 2022.
- National General Accident & Health. "Get a Quote." Accessed August 17, 2022.
- UnitedHealthcare. "Short term health insurance FAQs." Accessed August 17, 2022.