Short Term Health Insurance Policies For the Unemployed
For most people, losing their job doesn’t just mean loss of income; it also includes the loss of affordable healthcare. While some newly unemployed workers may opt for an extension of their company’s insurance plan through COBRA, this is often a highly expensive way to receive health coverage. Instead, many people choose a short term insurance plan to cut costs.
Being uninsured while you are unemployed can be risky. Should you become sick or injured, you would have to pay out of pocket for medical treatment, which could lead to thousands of dollars of debt that will continue to grow while you are out of work.
Purchasing a short term insurance plan instead of utilizing the COBRA option is an affordable alternative. While a short term plan may offer less coverage than a COBRA plan, it does offer coverage for care received in emergency situations, including hospital stays.
Temporary coverage is included in short term insurance plans for those who don’t have medical insurance. If you get laid off or fired, you can become covered immediately after you sign up for a short term plan. Unlike traditional insurance plans, you typically don’t have to wait through a long approval process with short term plans.
It’s critical to watch your spending habits while you are unemployed. Paying less for a short term insurance e plan than you would for a CORBA plan means that you can sit back and enjoy the freedom of being covered in case of emergency. Being insured in an uncertain time allows you to enjoy the peace of mind that coverage brings.
After you have lost your job, filed for unemployment and begun looking for a new career, research the various options available for short term health insurance. Be sure to compare cost and coverage across several different offerings in order to find the best plan for you.
Purchasing from a reputable short term insurance company is the best way to find the most value for your money. Research any potential companies online to learn more about what their short term plans offer. To make sure you are getting the coverage you need, ask any questions that you may have prior to purchasing a plan.
Losing your job can be stressful enough without having to consider how you will pay for unexpected medical emergencies. By being prepared with a short term health insurance plan, you can save time and money, and focus on finding your next job.
Dan Miller often writes about short term insurance.
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