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news.HumanaOne, a division of Humana and a provider of health insurance products, has introduced its new Short Term Medical health insurance product.
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The company has said that the new product is suitable for: students who are about to graduate; people who are between jobs; part-time, temporary or seasonal employees, recent retirees waiting for Medicare; new employees waiting for benefits; and people who are unemployed.
HumanaOne is initially offering the Short Term Medical health insurance in: Alabama, Arizona, Colorado, Louisiana, Michigan, Nebraska, Ohio and Wisconsin. Short Term Medical plans have a limit of $2 million maximum benefit and include prescription drug coverage. They do not cover preexisting conditions, according to the company.
The company has said that applicants for the new product have the flexibility to choose the length of their policy (from 30 days up to six months or one year, depending on the state), the deductible amount ($500 to $5,000 for individuals or $1,000 to $10,000 for families) and the payment method. A discount of up to 20% is offered to those who pay the full amount up front.