Two new short term health insurance plans to meet people’s needs

UnitedHealthcare’s Golden Rule Insurance Company is introducing two new short term health insurance plans in North Carolina and West Virginia designed to meet people’s needs for more flexible and cost-effective approaches to coverage.

Golden Rule’s new Short Term Medical^SM Plus and Short Term Medical^SM Value plans are designed to bridge gaps in health insurance coverage for workers between jobs who find COBRA too costly or who aren’t eligible for COBRA, new graduates looking for work, students dropping off their parents’ plans, new employees not yet covered by employer plans, early retirees awaiting Medicare eligibility and others whose lives are in time of transition.

Consumers in North Carolina and West Virginia can choose from one to 12 months of coverage with either of Golden Rule’s new short term plans. Consumers can then apply for additional months of coverage and consecutive short term plans.

“Especially in today’s economy, there is a need for budget-conscious health plans for individuals and families who suddenly find themselves without health insurance through work or school,” Golden Rule CEO Richard A. Collins said. “Life circumstances can change quickly, and with these new plans, we want to give consumers a choice of plan designs, deductibles, months of coverage and payment options so individuals can decide what will best meet their family’s current situation.

“While most people understand the importance of having health care coverage, many consumers new to the individual market don’t know that there are lower-cost, quality health plans available and how to find them,” Collins said.

In fact, a national survey of 1,000 18 to 21 year olds conducted for UnitedHealthcare this year revealed that although 82 percent of young adults see health insurance as a necessity they cannot ignore, more than half acknowledge that they lack information to make good decisions about coverage once they are no longer covered by their parents’ or college plans (For more information about the survey, visit the Golden Rule online newsroom).

For consumers struggling to fit health care into tight budgets, Golden Rule’s new short term plans feature an expanded choice of deductibles to help keep premiums more affordable. Other advantages to consumers include:

• Choice of two plans:
  • Short Term Medical Plus offers a per-term deductible between $250 and $10,000 and is ideal for consumers seeking predictable out-of-pocket expenses
  • Short Term Medical Value offers a per-cause deductible between $250 and $5,000 and is Golden Rule’s most cost-effective short term coverage
• Network discounts on medical care of up to 40 percent or more before the deductible is met. Consumers have access to UnitedHealthcare’s network of approximately 590,000 physicians and care professionals and more than 4,900 hospitals nationwide.
• Flexibility to discontinue coverage at any time without penalty and have the unused premium returned.
• Ability to apply for consecutive short term coverage after the initial short term plan expires.
• Quick, easy online application at www.goldenrule.com; consumers usually hear back within 24 to 48 hours
• Choice of payment options, including direct monthly billing.