Buying a short-term plan in Oklahoma
- As of November 2019, Oklahoma allows short-term plans to follow federal duration rules. Insurers are allowed to sell plans with terms of up to 364 days, with renewal available for a total duration of up to 36 months.
- Prior to November 2019, Oklahoma limited short-term plans to six months and prohibits renewal. But a new state law changed that in November 2019.
- At least eight insurers offer short-term plans in Oklahoma.
How long can short-term plans last in Oklahoma?
As of November 1, 2019, Oklahoma allows short-term health insurance plans to follow federal maximum duration rules. That means they are allowed to have initial terms of up to 364 days, and total duration, including renewals, of up to 36 months. This is clarified in Oklahoma Title 36, Section 4419.
Prior to November 2019, however, Oklahoma law limited short-term health insurance plans to six months and prohibited renewal. This is referenced in 36 O.S. § 6060.4(C)(2)(f), and a 2011 bulletin from the Oklahoma Insurance Department (LH 2011-01) noted that “short-term health insurance issued on a nonrenewable basis” was exempt from the state’s rate filing and review process. The Oklahoma Insurance Department confirmed this in a bulletin (LH 2018-03) issued in September 2018, and it continued to be in effect through October 2019.
Oklahoma’s new rule — allowing short-term plans to comply with federal duration limits instead of the six-month limit the state had previously imposed — is a result of SB993, which was enacted in Oklahoma in June 2019 and took effect November 1, 2019.
Which insurers offer short-term plans in Oklahoma?
At least nine insurers offer short-term plans in Oklahoma as of mid-2019:
- American Financial Security Life Insurance (AdvantHealth)
- Aspen Insurance
- Companion Life
- Everest Reinsurance
- Independence American Insurance Company
- National General
- Standard Life
- UnitedHealthcare (Golden Rule)
Louise Norris is an individual health insurance broker who has been writing about health insurance and health reform since 2006. She has written dozens of opinions and educational pieces about the Affordable Care Act for healthinsurance.org. Her state health exchange updates are regularly cited by media who cover health reform and by other health insurance experts.