Aspen No Longer Selling Short-Term Medical Policies

Alternatives to Aspen health insurance

Original review (2020)

Good for

Bad for

Aspen short-term medical (STM) insurance includes a standard set of benefits with three levels of coverage to choose from. The plan is sold by third parties, including insurance agencies and comparison websites, in several states. Each state has its own regulations for short-term health insurance, though, so availability and coverage can vary.

If you buy an Aspen STM plan, you'll work with a third-party company for claims and payments or if you have questions. Aspen's servicing company has subpar reviews for its billing practices and customer experience. Aspen American health insurance isn't a good choice if you want a short-term medical plan with a high level of service.

Aspen health insurance: Our thoughts

Aspen offers short-term, or temporary, medical insurance that is not regulated by the Affordable Care Act (ACA). This means that it is not sold through ACA exchanges and is instead offered solely through private health insurance companies.

Aspen does not actively sell its own health products or have a website dedicated to its short-term insurance programs. Rather, policies are sold through various third-party websites or through insurance brokers and agents partnered with Aspen.

After they're sold, Aspen policies are serviced by MyBenefitsKeeper, a company owned by Health Plan Intermediaries Holdings (HPIH). HPIH is a part of Health Insurance Innovations, or HII.

Availability of policies

Aspen plans are available in 10 states, with terms and renewal options matching what is required under state law. Except for Wisconsin, each of these states follows federal guidelines. Short-term medical plans can only last up to 364 days and can only be renewed three times. For example, Aspen health insurance in Texas or Aspen health insurance in Florida would both offer coverage for up to 364 days, and you could pay to continue the policy up to three times.

Aspen plans in Wisconsin can have up to a 364-day term, but you can only keep the policy for up to 18 months total.

Aspen policies can be purchased in the following states:

It is important to remember that short-term medical plans are not ACA-regulated, so your coverage can be denied. For example, you could be denied coverage due to a preexisting condition. If accepted, you may be charged a higher rate based on age or health history.

Plan options and out-of-pocket costs

Aspen offers one plan with three coverage levels. Policies are available to applicants and spouses ages 18 to 64 and dependent, unmarried children under age 26. Child-only coverage is also available for children ages 2 to 17.

Along with doctor visits and hospital benefits, Aspen provides some coverage for home health, hospice and extended care facility services. Aspen plans also offer minimal coverage for mental health and substance abuse, a benefit not always included in STM insurance programs.

As with many short-term medical plans, Aspen insurance includes a list of limitations and exclusions. For example, injuries or illnesses related to certain dangerous activities or occupations are excluded. Aspen also excludes coverage for preexisting conditions diagnosed or treated within the 24-month period before the policy effective date.

During your initial enrollment in an Aspen STM plan, you can decide how many renewals you need, up to the maximum allowed in your state. With the renewal option, you can then purchase a preexisting waiver, which takes effect during the following term. The waiver applies only to health conditions that arise during your initial term.

Because medical underwriting is permitted with STM plans, rates may vary based on age, health or other factors. As such, Aspen premium information is available only after answering health-related and other questions during the application process. In general, your premiums for an Aspen health policy are lower than an ACA plan.

Aspen’s three plan levels offer similar coinsurance amounts. Deductible, coinsurance and maximum benefit amounts vary from plan to plan.

Aspen STM Plan 1

Aspen STM Plan 2

Aspen STM Plan 3

Aspen health insurance reviews and customer complaints

Aspen short-term health insurance plans provide short-term coverage at lower rates compared to ACA major medical plans. However, customer reviews for the servicing company, MyBenefitsKeeper, are below average.

In reporting concerns to the Better Business Bureau, policyholders complained that Aspen was unresponsive, didn't follow up regarding problems and was generally unprofessional. Customers also reported incorrect or unexpected bills, and noted that issues were not easily resolved. The Better Business Bureau has given MyBenefitsKeeper a "D-" rating.

Aspen American Insurance Company, which underwrites Aspen STM insurance, has received a National Association of Insurance Commissioners’ (NAIC) complaint index of 1.02 for the accident and health portion of the business. This rating means Aspen receives slightly more than the median number of complaints relative to the company’s size. It is notable that complaints were higher for accident and health than for non-health lines of business for the company. Complaints focused on policyholder service, underwriting and claim handling issues.