Short Term Medical Insurance Coverage For the Unemployed

Written By: Dan Miller on December 6, 2009 No Comment

When you lose your job, you often also lose affordable healthcare as well. Taking advantage of the COBRA plan that your company offers is usually very expensive. Instead, many unemployed individuals decide to purchase a short term insurance plan that is typically cheaper.

It’s risky to be uninsured while you are unemployed. If you are sick or injured in an accident, any costs for medical treatment would have to be paid of pocket directly, which can lead to substantial debt that you can’t repay while unemployed.

A short term health insurance plan is an excellent alternative to the high monthly cost of a COBRA plan. While a short term plan may not offer the comprehensive coverage that a COBRA plan does, it will cover emergency care, including hospital stays and medically necessary treatments.

Short term insurance includes plans that offer temporary coverage for those who don’t currently have medical insurance. In the event that you are laid off or fired, you can easily sign up for a short term plan with coverage becoming effective immediately. Due to the nature of these plans, those who want to enroll usually don’t have to wait for a lengthy approval process as with traditional insurance 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.

You can find the most value for your money by purchasing a plan from a reputable short term insurance company. To find out what short term plans offer, research the companies and their offerings online. Ask any questions that you may have prior to purchasing a plan to make sure that you are getting the coverage that you need.

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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