The economic turmoil that has swept the globe has left people across the world concerned with their job security. Even jobs that were recently in high demand and which seemed secure are now frequently falling victims to layoffs and downsizing. Can you be certain that your job security will remain high? The answer is most likely no, and with that in mind you should strongly consider the benefits of health insurance for unemployed.
Short term health insurance is a simple yet wonderful concept. Rather than going uninsured when you are released from a job or leave you current company for a new one which doesn’t immediately offer coverage to new hires, you can buy a temporary coverage plan that can save you hundreds or even thousands in medical expenses.
Without medical insurance, the cost of a simple doctor’s visit can easily run into the hundreds of dollars. And if you’re without a job, then you certainly don’t have extra money to save on medical expenses. So the small monthly premium you pay for a short term medical insurance policy will be well worth it.
Temporary insurance plans truly are affordable options that keep your budget in mind. For instance, you have the ability to control your own deductible and co-insurance rates, meaning you can set higher deductibles and co-pays to keep your own upfront costs at a minimum. This way you’re really only paying more if you actually use the coverage. And even in that instance you’ll still pay less than you would uninsured.
And that’s not the only way in which short term health insurance gives you the ability to choose your own policy terms. You ca also pick the length of time you need coverage for. So if you are just waiting out a 60 day probationary term at your new job, you can buy a short term policy for 60 days and then opt into your company’s plan. Or if you are preparing for a long job search, you can choose a longer policy (they range from 30 days to 360). This way you can buy only what you need and make sure you don’t waste any money.
Think that because you are buying a temporary plan that your choice of providers will be limited? Think again, because short term health insurance will allow you to choose your own doctors and your own hospitals for your healthcare needs. So you’ll get all the freedom of choice you experienced under your own plan – and maybe even more.
And while a new employer’s probationary period can be frustrating, you’ll find none of that with short term insurance. Next day approval is often available from many providers, so you and your family can gain immediate coverage. That will certainly offer you peace of mind.
While you focus on getting settled into your new job or finding another one, short term insurance will take away the worry of how your family will get affordable healthcare. With affordable prices, flexible terms, and the ability to choose providers you’re comfortable with, this type of temporary insurance offers a valuable service.
Dan Miller often writes about short term insurance.
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