UnitedHealthcare Short Term Health Insurance Overview

If you’re between jobs, or you’ve missed the open enrollment period for Obamacare, or you simply find that you can not afford a major medical / ACA plan because you do not qualify for a subsidy, United Healthcare offers several different short term health insurance plans that may help you cover your medical expenses. UnitedHealthcare subsidiary company, Golden Rule Insurance Company, underwrites all of the UnitedHealthcare (UHC) short term plans. GoldenRule is owned by UHC Group, the parent company of UnitedHealthcare.

About UnitedHealthcare

UnitedHealthcare is a Fortune 50 company, meaning it is one of the 50 largest companies within the United States. As the largest health insurer in the United States, the company serves more than 30 million people. It also offers access to more than 1 million physicians and approximately 6,000 hospitals as well as other healthcare providers and facilities. According to the UnitedHealthcare website, A.M. Best has given the company an A (or Excellent) rating.

Does it matter how large a company is, and does that make them more trust-worthy? Typically you would think that larger entities would tend to be more conservative simply because they’re being watched more closely than a much smaller company. In the past we might have agreed that this was a relatively safe assumption, that larger companies are more risk averse. That said, you only need to look at VW and WellsFargo as just two recent examples of where that assumption simply isn’t true. Both are massive corporations with a lot to lose, yet both did things that were not in the best interest of consumers, and instead their bottom line. While we think that this kind of thing happens more often than the general public knows about, what we can say about UHC, is that they are an extremely conservative company that is highly risk averse. As such, they are extremely protective of their brand and reputation with consumers. While we do not think that any insurance carrier exists that will consistently please every single one of their customers, mostly because of the nature of the product / service provided, UHC is a company that has a pretty stellar reputation.

In addition to operating the largest insurance carrier in the United States, UHC also owns a number of other entities within the healthcare eco-system that we believe is not only a forward thinking approach, but of benefit to consumers. Two important examples, are their Pharmacy Benefits Management (PBM) business Optum, which is responsible for negotiating rates for prescription drugs, and MedExpress, their national urgent care business. Both of these were previously independent companies who were then acquired by UHC. By owning and operating its own PBM as well as Urgent Care facilities, this allows UHC to decrease costs for both prescription drugs, as well as for urgentcare services.

UnitedHealthcare Short Term Health Insurance Plans

Short term health insurance plans at UnitedHealthcare are issued through Golden Rule Insurance Company, which has been offering these policies for more than 30 years. Because of Golden Rule’s long history in short term health insurance, you can be sure that they are not exploiting a new trend or trying to create a new insurance market. The company is committed to the short term health products it offers, and it has the backing of a large provider network.

UHC Short Health Isurance Term Plan Availability

Golden Rule underwrites several different short term plans sold through UnitedHealthcare. Each of the plans offers different deductibles, copayments and policy maximums. All plans include doctor’s visits with a coinsurance payment after the deductible has been met, and urgent care costs $75 per visit. Emergency room visits require a $250 copay plus deductibles and coinsurance. Covered services also may include outpatient surgery, labs, X-rays and hospital care. You can choose coverage that lasts from 30 days to three months on any of the plans offered. In some states, plans may only be available for one to two months. Plan availability will vary based on where you live and other factors, including health history.

UnitedHealthcare 2018 Short Term Health Plan Groupings:
1

In the first set of plans, deductibles start at $1,000 and go up to $25,000. There's a lifetime maximum payout benefit of $250,000 per covered person. Coinsurance and deductibles vary by plan.

$1K - $25K

Deductible Options

$250,000

Lifetime Benefits Cap

Value

40%

Coinsurance

  • $10,000 OOPE Cap
  • Prescription Coverage
  • Per-Cause Deductible
  • Per-Term Deductible

The coinsurance rate for Value is 40 percent, and there's a $10,000 cap on out-of-pocket expenses. You can use a discount card for prescription drugs, but prescription coverage is not include in the plan. Value plans allow you to choose a per-cause or per-term deductible.

Copay Value

40%

Coinsurance

  • $10,000 OOPE Cap
  • $50 First Doctor Visit
  • Prescription Discount
  • Per-Cause Deductible

As with the Value plan, the Copay Value includes a 40 percent coinsurance rate and a $10,000 cap on out-of-pocket expenses. There's a $50 copay for your first doctor's visit. You can also use a prescription discount card with this plan. Unlike Value and Plus plans, the Copay Value only allows a per-term deductible.

Plus

20%

Coinsurance

  • $10,000 OOPE Cap
  • Prescription Price Card
  • Per-Cause Deductible
  • Per-Term Deductible

With the Plus plan, the coinsurance rate drops to 20 percent. This plan also includes a Preferred Price Card for prescriptions, which requires you to pay for prescriptions at the lowest price available at the time of sale and submit a claim to UnitedHealthcare until your deductible is met. After the deductible has been reached, only a copayment is required.

2

The next category of plans offered by UnitedHealthcare is called Select. With these plans, lifetime benefits cap at $600,000 per covered person. Deductibles range from $1,000 to $12,500 and last for the duration of the term (not per cause).

$1K - $12.5K

Deductible Options

$600,000

Lifetime Benefits Cap

Value Select

40%

Coinsurance

  • 30% or 40% Coinsurance Rate
  • $5,000 or $10,000 OOPE Cap
  • Prescription Discount Card
  • Per-Term Deductible

With Value Select, you'll choose a copay of 30 or 40 percent. There's a discount card available for prescriptions since prescription coverage is not available with this plan. You'll also choose an out-of-pocket cap of $5,000 or $10,000.

Plus Select

30%

Coinsurance

  • 20%, 30% or 40% Coinsurance Rate
  • $2,000, $5,000 or $10,000 OOPE Cap
  • Prescription Price Card
  • Per-Term Deductible

The Plus Select plan lets you choose a coinsurance rate of 20, 30 or 40 percent. Prescription coverage is available with this plan in the form of the Preferred Price Card outlined above. You’ll choose an out-of-pocket cap of $2,000, $5,000 or $10,000.

Copay Select

20%

Coinsurance

  • 20% Coinsurance Rate
  • $5,000 OOPE Cap
  • $50 First Doctor Visit
  • Prescription Price Card

The Copay Select plan requires 20 percent coinsurance and an out-of-pocket maximum of $5,000. With this plan you'll pay a $50 for your first doctor's visit, and you can use a Preferred Price Card for prescription coverage.

Plus Elite

0%

Coinsurance

  • 0% Coinsurance Rate
  • $0 OOPE Cap
  • Choice of $1,000 Deductible
  • Prescription Price Card

With Plus Elite, there is no coinsurance rate and there's a $0 out-of-pocket cap on expenses. The Plus Elite plan doesn't allow you to choose the $1,000 deductible option. You can use the Preferred Price Card for drug coverage.

3

The third tiered category for short term plans from UnitedHealthcare is Select A. You can choose deductibles ranging from $1,000 to $12,500 per term (not percause), and there's a $2 million cap on lifetime payouts with these plans. Other than these differences, the Select A plans offer the same benefits, in terms of cost-sharing and prescription drug coverage, as the Select plans. Select A plans would likely cost more since there's a higher cap on lifetime payouts. Several short term insurance plans from UnitedHealthcare also come with the option to add supplemental benefits, like accident insurance, to bolster your coverage.

$1K - $12.5K

Deductible Options

$2,000,000

Lifetime Benefits Cap

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