Losing affordable healthcare is often a result of losing a job and the resulting loss of income. Extension’s of their company’s insurance plan through COBRA is often highly expensive. Many people opt for a short term medical insurance plan instead to help cut costs.

Being unemployed and uninsured is a bad idea. Any costs that result from illness or injury, you would have to pay for any medical treatments directly out of pocket. This can lead to substantial debt that your can’t repay while unemployed.

A short term 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.

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.

When you are unemployed, every dollar makes a difference. By selecting a short term insurance plan instead of paying high monthly COBRA premiums, you can rest assured that you will be taken care of in the event of an unexpected illness or emergency. Having this peace of mind during an uncertain time is an important benefit of being insured.

Research the various short term health insurance options available for you once you have lost your job and filed for unemployment benefits. In order to find the best one for your needs, be sure to compare costs and coverage for several different plans.

Purchasing a short term insurance plan from a well-known and respected company is the only way to find the most value for your money. Research companies and their offerings online to find out what each plan offers. Be sure to ask any questions before making your final selection and purchase to make sure you are getting the best plan.

Worrying about how to pay for unexpected medical situations is too much stress to consider when you are also faced with losing your job. When you have purchased a short term health insurance plan, you can spend more time looking for work and save money along the way.

Dan Miller often writes about short term insurance.

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Filed under: Health Insurance

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