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 medical insurance plan that is typically cheaper.
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.
If you don’t have medical insurance, you can still receive temporary coverage in a short term insurance plan. Coverage begins as you soon as you sign up after being laid off or fired. Short term plans don’t include long waiting periods for approval as is found with traditional insurance plans.
Watching your money is important when you are unemployed. By paying less with a short term insurance plan than you would with a COBRA plan, you can relax and know that you will be covered in the case of an unexpected illness or emergency. During these uncertain times, being insured means the important benefit of the peace of mind that you will be taken care of.
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.
It?s stressful enough to lose your job, let alone having to consider how you’ll pay for unexpected medical situations. You can save time and money and spend more time looking for a new job when you are prepared with a short term health insurance plan.
Dan Miller often writes about short term insurance.
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