Expanded Short Term Health - IHC Short term health insurance reviews
IHC is new to many people in the market.
They filled the gap in short term health insurance that was created in 2015.
We used to have lots of short term health carriers.
Most of the Blues participated.
Now we're down to really two but that will likely be changing soon.
We'll touch on that later.
If you just need to quote IHC short term health:
Otherwise, let's take a look at IHC for short term health needs.
You can jump right to a section here:
IHC is new to many people so let's look at them more closely.
Even though IHC is new to many people, they've been in the private health insurance business since 1980.
They primarily focus on health insurance for individuals, families, and businesses.
In today's world of giant health insurance carriers (the Blues, Aetna, United, etc), they are a smaller carrier.
Just the right fit for what happened after 2014 with short term health insurance!
IHC Group is a publicly held company (NYSE: IHC) which includes Standard Security Life Insurance Company of New York, Madison National Life Insurance Company, Inc., Independence American Insurance Company and IHC Specialty Benefits.
The short term part is under Standard Security Life Insurance.
Rating for Standard Security Life Insurance:
They have since become the dominant short term health carrier in the US.
It's important to look at what happened.
Let's go back in time a bit.
Before 2014, we had lots of short term health carriers to choose from.
With the passage of the ACA law, many carriers pulled out of the short term market.
The thinking was this...
The only way to make this new marketplace work is to go all in.
Short term plans then had a duration of 364 days in many markets.
Those people tended to be healthier since short term is medically underwritten and functions more like catastrophic coverage.
Since there was a penalty for having short term health plans before 2019, they figured the people would go ACA.
Not short term!
They left the market in droves.
There has always been a genuine need in the market for short term health options.
That didn't change.
IHC's short term became very popular as a result of all this change.
This left more of the market to IHC.
Here's a list of where IHC is available although subject to change:
Then came the blessing of the Blue's.
We spoke with senior management at one of the biggest Blues and here's what they said.
They were discontinuing certain grandfathered plans in the market.
Of course, they would rather these individuals go to the ACA market but if you don't qualify for a tax credit, the rates can be really high.
It worked!
IHC has enrolled 100's of 1000's of short term health policies since!
Since most of the Blue's pulled out of the short term market, IHC and UnitedOne (part of United Health) became the only real solution.
Some other companies market and sell "short term insurance" but they have serious gaps in coverage.
Real issues in terms of capped benefits for big bills.
Not good!
IHC offers real short term coverage.
It's catastrophic in nature, but real.
That's the only reason we work with them for this market.
Let's look at their plans in more detail.
Short term plans are simpler in nature.
It's important to understand the short term versus Obamacare differences here but if your need is for short term....IHC has designed good plans.
Short term plans have main facets to choose from:
Here's the grid (check quote for updated information here).
Benefits are per person, in-network for covered benefits.
Let's look at each piece in detail.
This is the amount you pay first before starting to get help for covered benefits, in-network.
After the deductible is met (per person), you then start paying the % shown for remaining bills until you hit the Stop loss.
At this point, the policy pays 100% of covered benefits, in-network up to the benefit max ($2M for most plans).
Let's take an example.
You have a $30K ACL repair from a basketball injury (something close to my heart).
You choose the $2000 deductible with 50/50 Co-insurance up to $5K stop loss.
The total bill (after PPO discount) is $30K.
You'll pay the deductible first - $2000
You'll then pay 50% of remaining charges until you hit $5K
You may have noticed the PPO discount piece.
Let's look at that and the network we can use with IHC short term plans.
You can quote all these IHC short term plans here.
We have good news here.
IHC uses the MultiPlan PPO network.
It's huge and nationwide.
You can check providers here.
Most importantly, when we use PPO providers, we'll get the negotiated PPO rate even as we're meeting our deductible.
The hospitals see even bigger discounts in-network.
MultiPlan is one of the biggest networks in the US.
IHC short term plans are able to use it.
California is a unique market.
For such a large market, we only have one short term carrier.
That may change with the Trump expansion of short term but for now, IHC is it.
You can quote IHC short term in California here:
Let's get to the reviews of IHC short term.
A big disclaimer.
To some extent, that's true for all health carriers.
Health insurance isn't your favorite restaurant.
No one's getting excited about a health carrier.
Most people use their short term health plan sparingly.
It's there for catastrophic coverage for a fixed duration and knock on wood, you won't need it.
If you don't use it, there's no reason to post a review.
Now we know that based on the premium amounts, they're paying some big claims.
The costs are similar to what we had before 2014's ACA law.
Some big bills are hitting claims.
Which is to be expected.
That's why we're buying the policy to begin.
The "Big What If".
For people who are having big bills, they don't really feel the need to leave a review for short term health plans.
Even when insurance plans pay out, we don't exactly fall in love with them.
It's just the nature of the business.
You're still paying a few 1000 dollars out of pocket for a large catastrophic bill.
So...there's not much love for health insurance.
That reflects in the reviews.
They are decidely negative.
You'll find the same across the health insurance market.
Our experience has been this...
Occasionally, cancellation can be tricky but we work with our clients to time this correctly.
A request about 2 weeks prior to the current 30 day block ending is perfect.
You avoid the refund process this way.
That's the only thing we've ever dealt with for short term and it's always been rectified by IHC.
Our assistance is free as IHC short term health agents. Zero cost.
You can call 800-320-6269 or email us with any questions.
In some States, we only have 1 of the 2 main carriers, IHC and UnitedOne.
That makes deciding easy.
In some, we have both.
How do we compare IHC versus UnitedOne for short term health?
Apples and apples, we need to look at cost first.
Meaning...with a legitimate carrier, it's very comparable in how it works.
Both IHC and UnitedOne are good carriers so cost versus benefit becomes the key comparison.
Look at deductibles, out of pocket max, and monthly premium.
The co-insurance is less important since we're probably going to hit the stop loss for any big bill.
Or you'll be way under the deductible!
That's just how our health care system is now.
Way under or way over (facility costs such as hospital, etc).
You can quote both carriers from the quote page here:
We're happy to help with any questions you may have.
We recommend everyone check out the IHC short term health brochure.
You can access it right the quote link here.
This way, you get the updated brochure.
Difference States will have different brochures.
The benefit options are there as well as covered and excluded benefits.
Especially with the new Trump expansion to 364 days.
You can quote IHC short term health plans here.
If they quote system does not bring up options, let us know by email and we'll see what else might be available.
There's no cost for our assistance at 800-320-6269 or by email.
Enrollment in IHC short term is easy.
You can enroll right through the quote link here:
There's a quick health questionnaire.
More helpful info and tips on IHC short term health enrollment and processing here.
IHC may have some serious competition soon on the short term market with the Trump expansion but for now...
They're main event in many markets across the US.
In some States like California, they're the only option.
For a smaller carrier, we've had a great experience with them since 2014.
The priced and designed their short term plans well to meet the market needs for short term shoppers.
As a licensed IHC short term agent, we feel confident in their ability to pay eligible claims.
We'll add new carriers to the quote page as they come online with the expansion but for now, IHC is a solid option.
Please let us know if we can help in any way. Thanks!
Again, there is absolutely no cost to you for our services. Call 800-320-6269 Today!
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