Buying a short-term plan in Oklahoma
- Oklahoma regulations cap short-term plans at six months, and prohibit renewal.
- At least seven insurers offer short-term plans in Oklahoma.
How long can short-term plans last in Oklahoma?
Oklahoma law [see 36 O.S. § 6060.4(C)(2)(f)] limits short-term health insurance plans to six months and prohibits renewal. As long as plans comply with those terms, they’re not considered “health benefit plans” and are exempt from some state regulations. And a 2011 bulletin from the Oklahoma Insurance Department (LH 2011-01) notes that “short-term health insurance issued on a nonrenewable basis” is exempt from the state’s rate filing and review process.
Prior to October 2, 2018, federal regulations implemented in 2017 limited short-term health plans to no more than three months in duration, and prohibited renewals. But the Trump Administration’s new regulations allow short-term plans to have initial terms of up to 364 days, and total duration, including renewal, of up to 36 months. The federal rules are clear in noting, however, that a state can impose stricter guidelines. So short-term plans in Oklahoma continue to be non-renewable, and are capped at six months in duration.
The Oklahoma Insurance Department confirmed this in a bulletin (LH 2018-03) issued in September 2018.
Which insurers offer short-term plans in Oklahoma?
- Companion Life
- Everest Prime
- Independence American Life
- 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.