Healthcare, Health Insurance, Vitamins, Nutrition

March 26, 2010

Short Term Health Insurance Policies A Viable Alternative Health Insurance for Unemployed

Filed under: Healthcare — Tags: , , , , , , , , , , — Dan Miller @ 1:51 am
by Dan Miller

When people find themselves suddenly unemployed, health insurance tops their list of “concerns.” In such situations, it is worthwhile to look at health insurance for unemployed, with its myriad features, as a possible option.

Short term medical insurance is ideal for those who are recent graduates, in between jobs, waiting for employer insurance to kick in, and part-time employees. Early retirees can also purchase health insurance for unemployed to tide over the period before Medicare benefits can be availed.

As soon as you lose employment, voluntarily or not, the one avenue for health insurance that strikes you is COBRA insurance. While COBRA continues long-term coverage without a break, it is expensive, sometimes even beating alternatives to COBRA insurance in cost.

Unlike long term health insurance, signing up for a health insurance for unemployed plan is quick and easy, and coverage can even begin within 24 hours. Being temporary coverage, COBRA insurance alternatives plans do not cover previously existing conditions.

When you purchase a alternatives to COBRA insurance plan, you will be covered for any illness or injury that did not exist earlier, as defined by the look-back period. You will be covered for inpatient and outpatient care including surgery, diagnostic examinations and prescriptions, and also for ambulance services. Your plan might also cover scheduled doctor visits.

If you purchase a health insurance for unemployed plan, you will not be covered for pregnancy and maternity, and most optical and dental treatment. Cosmetic surgery, unless performed as part of reconstruction therapy, is also not covered, along with previously existing conditions.

When you opt for health insurance for unemployed, you can choose from a range of plans and options. Not only does the maximum benefit amount differ by plan, applicable deductibles and co-pays can be customized as well. If you are an early retiree, for example, the plan you end up with will be very different than that of a young part-time employee.

When you purchase health insurance for unemployed, you might be tempted to continue on it for a long time. However, it is designed for short periods, and you must ideally not exceed a year or so in short term coverage. If your insurance situation is uncertain, you can renew the plan monthly, for the maximum period specified in the plan.

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February 6, 2010

Temporary Insurance Substitute COBRA Insurance

Filed under: Health Insurance — Tags: , , , , , , , — Dan Miller @ 3:46 am
by Dan Miller

With unemployment and economic instability still prevalent in most sectors of the American economy, medical insurance options seem to be narrowing for those without jobs. temporary insurance can neatly fill the gap, and can substitute the more expensive COBRA insurance in most cases.

COBRA insurance guarantees continuation of medical coverage for up to 18 months after a person loses his/her job. COBRA insurance, however, is more expensive than regular insurance, and the conditions for qualification are stringent. In this tough situation, short-term medical insurance can really help a family by providing much-needed medical coverage.

Short-term medical insurance works as temporary insurance, and covers most unplanned medical conditions. Inpatient and outpatient care, prescriptions, diagnostics, and emergency services are all usually covered under short-term medical insurance. However, temporary plans usually exclude pre-existing conditions and pregnancy.

You can usually purchase temporary insurance for periods ranging from a month to a year. Remember that some plans may consider each renewal a new policy, which means that the premium rates may have changed, and also your eligibility in terms of pre-existing conditions. You will find that the process of renewal is actually very simple and easy.

While a person can use short term insurance to tide over an otherwise uninsured period in life, temporary insurance cannot substitute long-term insurance, which provides full permanent medical coverage, including routine check-ups, pregnancy, and other medical conditions.

Short term health insurance can be considered comparable and creditable coverage, especially for group plans. The importance of getting the tag arises in terms of assessing the applicant to see whether he/she has been continuously covered, and also in determining the applicable pre-existing conditions for the plan.

A short term health insurance is also easier to get into, since there are not many underwriting procedures, unlike COBRA insurance. It can also be done online via a few clicks of the mouse.

For temporary insurance of around six months (or less), short term insurance can work quite well. It can also be a better option than COBRA insurance for many people, but it is important to know that short term insurance is just that short term.

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January 13, 2010

Factor to Consider While Purchasing Short Term Insurance

Filed under: Health Insurance — Tags: , — blogadmin @ 4:44 am

If you are looking for short-term health insurance, check if it is the right type of insurance for you. You can buy short-term medical and health insurance quite easily either from the company, an agent, or by logging on to a comparison site. However, before buying short term insurance, try and understand how it works.

Short-term health insurance is for individuals who expect to have full health coverage in the near future. Typical types of people looking for such insurance include people who are between jobs, changing their visa status, or working on a temporary basis. It is also used to cover short international trips.

Purchasing short-term health insurance is typically a simple process. Logging on to a company’s Web site is one way to purchase the most appropriate short-term health insurance plan. But it could turn out to be a laborious process if several plans, and their coverage and prices must be looked at.

You can also visit insurance comparison Web sites to purchase temporary insurance. On these Web sites, you can search for a plan using a variety of parameters and benefits, and the Web site throws up the plans that meet your requirements. Remember to check the features offered along with the price; some inexpensive short-term health insurance plans may lack the benefits you most desire.

An insurance company’s financial stability determines how it treats the claims. To help know the financial strength of insurers, evaluators such as A.M. Best and Company publish ratings of insurance companies. A rating of at least A indicates that the company is in reasonably good health.

While temporary, short-term health insurance can be a life-saver, and it is important to make sure it kicks in as soon as an earlier policy expires. Also ensure that you are not over-insured, and cancel one policy if you are concurrently covered under two plans.

Since short-term health insurance is usually looked at as a stop-gap arrangement, planned medical events?routine eye and dental check ups, maternity and pre-existing conditions, for example-are not covered. If coverage is required for these, or for more than six months, it might be worthwhile to investigate long-term health insurance.

Buying short-term health insurance is an easy process. It can be purchased online with just a few clicks of the mouse. However, it is an extremely useful type of insurance, especially for those temporary unstable phases.

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