What You Need to Know
New Hampshire short-term plans can provide up to six months of coverage, and they are not renewable.
Plan premiums are lower than Marketplace plans without subsidies.
Short-term health plans don’t cover all the essential benefits that Marketplace plans do.
What Is New Hampshire Short-Term Health Insurance?
New Hampshire short-term health insurance plans are affordable plans that offer some health coverage for a limited time. They last for six months or less, and they may or may not be renewable, depending on where you live. New Hampshire currently has one company selling short-term health insurance plans.1 The typical premium for these plans is $100 per month, but it may cost more or less depending on your age.
Short-term health insurance policies don’t have to follow the Affordable Care Act (ACA) rules that other health insurance plans do. They can be medically underwritten, which means you can be declined for coverage based on your health status. They can also exclude coverage for preexisting conditions, and they don’t have to cover the essential health benefits that other health plans do.2
However, these plans do provide affordable coverage. Learn more about these plans and whether you might benefit from applying for one.
Apply Any Time
Unlike Marketplace health insurance plans, which limit enrollment to a short time frame, you can apply for short-term insurance whenever you want.
Who Should Buy Short-Term Plans in New Hampshire?
New Hampshire short-term plans are a good fit for many, including:
- People who want to save money: If you don’t have access to health insurance through an employer, you may have looked at the health insurance Marketplace. While the American Rescue Plan Act of 2021 has increased subsidies through 2022, the plans still might be more than you’d like to or can afford to spend.3 Short-term plans are an affordable option.
- Those who missed open enrollment: Marketplace ACA plans and workplace healthcare plans only let you enroll at certain times. There’s typically an open enrollment period once per year and you may have a special enrollment period if you experience a life event like marriage. New Hampshire short-term health insurance plans allow you to apply at any time.
- People who are relatively healthy: These plans typically have medical underwriting, so you need to be relatively healthy to qualify. Many of these plans also have high deductibles, so they’re a better fit for those who don’t anticipate using their insurance often.
- If you’re between health insurance plans: You may be between jobs or waiting for benefits to start at a new job. A short-term medical insurance plan can help bridge the gap and ensure you and your family have some protection in place while you wait. It serves as temporary health insurance until your permanent coverage starts.
Of course, short-term health insurance isn’t right for everyone. You may want to consider another option if:
- You have preexisting or ongoing health conditions: Short-term insurance plans may not accept you if you have preexisting conditions. If they do accept you, they are unlikely to cover the preexisting condition. For example, if you broke your leg before getting a short-term health insurance plan, care related to your broken leg, like follow-up visits, wouldn’t be covered.
- You need essential benefits: Health insurance plans sold on the Marketplace are required to cover certain benefits, including pregnancy and maternity care, emergency services and prescription drugs.4 Short-term plans aren’t required to cover these benefits. If there’s an essential benefit you need, a Marketplace health insurance plan may be a better fit.
|Affordable: The plans are relatively inexpensive, especially if you’re younger.||Medical underwriting: Not everyone will qualify.|
|Flexible: You can enroll at any time without waiting for certain life events or open enrollment.||No coverage for preexisting conditions: You’ll be responsible for paying the costs of treating any conditions you have before the plan starts.|
|Temporary: You can have a short-term plan for a brief period while you’re waiting for other coverage to start.||Doesn’t have the same level of coverage: These plans aren’t required to cover the essential benefits that Marketplace health plans do.|
How Much Are New Hampshire Short-Term Plans?
Like traditional health insurance plans, short-term plans have out-of-pocket costs to manage. These include:
- Premiums: This is the amount you pay for your plan each month.
- Deductibles: This is the amount you pay for covered services before your plan starts to pay.5
- Copayments: This is a set dollar amount you pay for an item or service. For example, you might pay $25 for a doctor visit.6
- Coinsurance: This is a percentage you pay for a covered item or service that goes into effect after you’ve paid your deductible. You might pay 20% of a lab test, for example.7
- Out-of-pocket maximum: This is the most you’ll pay on covered expenses while you’re on the plan.8
How much are plan premiums in New Hampshire? For a 35-year-old, non-tobacco-using female:
- A plan with a $5,000 deductible and a maximum benefit of $1 million is $121.47 per month.
- A plan with a $10,000 deductible and a maximum benefit of $1 million is $99.90 per month.
What Rules Govern Short-Term Plans in New Hampshire?
New Hampshire only allows short-term health insurance plans of up to six months with no renewals.
You also can’t purchase a policy if you’ve had a short-term plan with more than 540 days of coverage in the past 24 months.9
Who Sells Short-Term Plans in New Hampshire?
Independence American Insurance Company is the only company approved to sell short-term plans to New Hampshire residents.10 It offers two customizable options:
- Connect STM: This provides up to $2 million in coverage.
- Connect Plus: This offers a $25,000 benefit for eligible preexisting conditions.
You can add a spouse and children to your plan. You can also add hospital insurance, dental insurance, a prescription discount plan and hearing and vision coverage to your short-term plan.
Its plans have deductibles ranging from $2,500 to $10,000 and a $50 physician office visit copay. Coinsurance ranges from 20% to 50%.11
First, decide whether a short-term health plan is right for you. You may want to get health insurance quotes from Marketplace plans or direct from insurance carriers to compare with short-term health plans. If you decide to move forward with short-term medical insurance, review the details of the plan carefully, including the deductible, copays, and coinsurance. Choose the health insurance coverage that fits your budget and your potential healthcare needs.