Short Term Health Insurance for the Unemployed

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.

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 is a smart alternative to high cost COBRA plans. A short term plan doesn’t include everything that is covered in a COBRA, but it does cover emergency care, 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.

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.

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.