Best Short-Term Health Insurance in Oregon (2024)

Short-term health insurance is a low-cost, limited-duration health plan that lasts for a few months or weeks (although you can extend it). It is generally for people who are between jobs, have missed open enrollment or are waiting for Medicare benefits to begin. These policies do not comply with the Affordable Care Act requirements, so they don't always include essential health benefits or cover pre-existing medical conditions.

MoneyGeek identified the top two short-term health insurance companies in Oregon as National General Accident & Health and Everest Reinsurance Company, with scores of 90 and 85, respectively. Nonetheless, the best provider depends on your needs and preferences.

Short-term insurance plans may not provide the coverage you need over the long term. You might qualify for marketplace plan subsidies that give you a better combination of price and coverage. Learning about your long-term options can save you money down the road.

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

• National General Accident & Health: 90 out of 100
• Everest Reinsurance Company: 85 out of 100
• Companion Life Insurance Company: 63 out of 100

Oregon's first- and second-place companies have an average MOOP of $6,100 and $7,958, respectively, while the state's third-place company has an average MOOP of $12,438. This is a significant cost difference prospective policyholders will need to consider.

National General Accident & Health's short-term health insurance plans have an average MOOP of $6,100, the cheapest average maximum out-of-pocket cost in Oregon.

When shopping for cheap insurance, it’s tempting to focus on monthly premiums. However, you should also consider the amount you might have to pay out of pocket when using covered healthcare services. The right plan will meet your needs and fit your budget.

People looking to purchase short-term health insurance plans between jobs should carefully consider whether they’ll require frequent medical attention during their coverage period. Typically, low-premium plans mean high MOOP costs, so if you need a lot of medical attention, you could end up paying more out of pocket.

MoneyGeek ranked the best companies in Oregon based on monthly premiums and cost-sharing options to determine which gives unemployed individuals the most bang for their buck. These are:

• National General Accident & Health: $125 per month
• Everest Reinsurance Company: $153 per month
• Companion Life Insurance Company: $138 per month

Everest Reinsurance Company is more expensive than the other two. That said, it offers the most plan options, which adds significant value in our ranking.

If you're switching jobs or losing your health insurance coverage, you may have to take a break from your current health plan. While you wait for the next open enrollment period, you can consider short-term health insurance.

Short-term coverage typically lasts up to a year but doesn't cover all bases. Policies tend to have more limited benefits, higher out-of-pocket costs and more restrictions. But in certain situations, they can be helpful.

MoneyGeek provided answers to common questions about short-term health insurance in Oregon, including what it covers, how long you can keep or stay on it, and some helpful tips for finding the best policy for your needs.