HumanaOne, the individual health arm of Humana, has expanded its individual short term health insurance product to five additional states, Illinois, Iowa, Missouri, Georgia and Kansas.
With these additions, the company offers its short term health insurance in 20 states. The product also is available in Alabama, Arizona, Arkansas, Colorado, Florida, Indiana, Kentucky, Louisiana, Michigan, Mississippi, Nebraska, Ohio, Oklahoma, Texas and Wisconsin.
The short term health insurance product offers a health insurance alternative for people in transition, including students who are about to graduate, people who are between jobs, part-time, temporary or seasonal employees, recent retirees not yet eligible for Medicare, new employees waiting for benefits and people who are unemployed, the company claims.
According to HumanaOne, applicants can choose the length of their policy (from 30 days up to six months or one year, depending on the state) the deductible ($500 to $5,000 for individuals or $1,000 to $10,000 for families) and the payment method (credit card, electronic funds transfer, single or monthly check). These plans have a $2m maximum benefit and include prescription drug coverage. They do not cover preexisting conditions.
Steven DeRaleau, chief operating officer of HumanaOne, said: “It can be very tempting to forgo health insurance when you’re between jobs or waiting for your benefits to kick in, particularly when you’re young and healthy. But that’s a gamble you could lose, leaving you saddled with medical debt for the next decade or longer.”