Is Aspen Health Insurance Legit? A Review of Its Products, Pros & Cons

Aspen Health Insurance is a company that offers health insurance plans for individuals, families, and businesses in the United States.

The company asserts that it offers cost-effective and adaptable coverage choices, along with entry to a network of healthcare professionals and medical facilities.

However, the legitimacy of Aspen Health Coverage is a point of consideration.

How does it measure up against other health insurance providers? Additionally, what advantages and disadvantages come with selecting it?

This article aims to address these inquiries and provide further insights.

Is Aspen Health Insurance Legit?
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What is Aspen Health Insurance?

Aspen Health Insurance, a division of the global insurance and reinsurance firm Aspen Insurance Holdings Limited headquartered in Bermuda, has been in operation since its establishment in 2018.

The company functions as a licensed insurance agency across all 50 states and the District of Columbia.

In collaboration with prominent insurance carriers like UnitedHealthcare, Aetna, Cigna, and Humana, Aspen Health Insurance extends a range of health insurance plans to its clientele.

The company not only offers insurance coverage but also delivers comprehensive customer service, aids in enrollment processes, and manages claims processing for its clients.

What are the types of plans offered by Aspen Health Insurance?

Aspen Health Insurance offers a variety of health insurance plans, depending on the customer’s needs, budget, and location.

Some of the types of plans offered by Aspen Health Insurance are:

Short-term health insurance

These plans are of a temporary nature, offering coverage for a restricted duration, typically spanning from 30 days to 12 months.

Designed to address unforeseen medical costs like accidents or illnesses, short-term health insurance plans exclude coverage for pre-existing conditions, preventive care, and essential health benefits.

While short-term health insurance plans are generally more affordable than regular health insurance, they come with reduced benefits as well as higher deductibles and copays.

Health benefit indemnity insurance

These plans operate on fixed benefits, providing a predetermined sum for particular medical services, irrespective of the real expenses incurred.

Health benefit indemnity insurance plans serve as a supplement to other health insurance or bridge gaps in coverage, such as deductibles, copays, or coinsurance.

These plans are not bound by the regulations of the Affordable Care Act (ACA), and therefore, they might not include coverage for essential health benefits, preventive care, or pre-existing conditions.

Dental and vision insurance

These plans encompass dental and vision care services, including:

  • Dental exams
  • Cleanings
  • Fillings
  • Crowns
  • Prescription glasses
  • Contact lenses

You have the option to acquire dental and vision insurance plans independently or combine them with other health insurance packages.

It’s essential to note that these insurance plans might have waiting periods, annual limits, or exclusions for specific services.

Medicare supplement insurance

These plans assist in covering expenses not addressed by Medicare, including:

  • Deductibles
  • Copays
  • Coinsurance
  • Emergency care during foreign travel

Commonly referred to as Medigap plans, Medicare supplement insurance plans are federally standardized into 10 distinct types, denoted from A to N.

Eligibility for purchasing Medicare supplement insurance plans is limited to individuals enrolled in both Medicare Part A and Part B.

Read more: Is Multiplan health insurance legit?

What are the Pros and Cons of Aspen Health Insurance?

Is Aspen Health Insurance Legit?
Image source (Healthline)

As with any health insurance provider, there are advantages and disadvantages to choosing Aspen Health Insurance.

Some of the pros and cons of Aspen Health Insurance are:

Pros:
  • Diverse Plans: Aspen Health Insurance provides various health insurance options, spanning short-term to long-term, low-cost to high-benefit, and individual to group plans, giving customers flexibility.
  • Network Access: Partnering with reputable carriers like UnitedHealthcare and Aetna, Aspen offers access to a broad network of doctors and hospitals nationwide, ensuring lower rates and quality care for customers using network providers.
  • Easy Enrollment: Aspen’s user-friendly website allows online plan comparison, quoting, and enrollment. The website also offers informative resources like FAQs, blog posts, and videos, and a dedicated customer service team assists with inquiries or issues.
Cons:
  • Aspen mainly provides non-ACA-compliant plans. These include short-term and health benefit indemnity plans. Coverage and benefits are limited compared to standard health insurance.
  • These plans may lack essential health benefits, preventive care, or coverage for pre-existing conditions, and could involve high deductibles, copays, and coinsurance. Additionally, they don’t shield customers from the ACA tax penalty for lacking minimum essential coverage.

The Bottom Line

Aspen Health Insurance offers plans for individuals, families, and businesses in the United States.

They promise affordable options and access to a network of healthcare providers. However, there are drawbacks.

It’s crucial for customers to research and compare Aspen Health Insurance plans before deciding.

Consulting with a licensed insurance agent for professional advice is also recommended.

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