Posts Tagged ‘temporary insurance’

Temporary Health Insurance Plans -Versatile Solution To Jobloss

Tuesday, March 30th, 2010

If you are suddenly handed the pink slip, you might have enough saved for your day-to-day expenses. However, with your job, employer-sponsored health insurance goes too, which might be a bigger worry for you. Short term health insurance may provide you with just the coverage you need during this tough time.

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 COBRA insurance alternatives to tide over the period before Medicare benefits can be availed.

Usually, when one loses his/her job, COBRA insurance is offered as an option. COBRA insurance offers health insurance with long term health benefits, but at a higher rate than employer-sponsored insurance and sometimes, temporary health insurance as well. That makes temporary health insurance a very desirable option.

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

Short term insurance covers most sudden medical illnesses and accidents. Plans usually include coverage for outpatient care, hospitalization, diagnostic tests, surgery, and ambulance charges. Doctor visits are also covered by most plans, subject to the applicable deductible and co-pay.

As with any temporary plan, short term health insurance does not cover pre-existing conditions, pregnancy, cosmetic surgery, and eye and dental care.

Short term insurance plans come in many flavors, and each plan usually features many deductibles and co-pays to choose from. Plan premiums also depend on the maximum coverage chosen, so that different folks can choose different plans that work for them.

When you purchase temporary health insurance, 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.

Dan Miller enjoys writing about temporary health insurance

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Temporary Insurance Substitute COBRA Insurance

Sunday, February 7th, 2010

When one has recently been given the pink slip, COBRA insurance usually steps in to continue coverage. However, its price tag could be very steep, and a better alternative might be short term insurance. These days, this cost distinction becomes even more important.

You might have heard the term COBRA insurance being bandied about at your workplace. It is essentially coverage that commences after a person loses his/her employment, so that coverage is continuous. But then, you might not be aware that COBRA coverage is often more expensive, and that you may not automatically qualify for it. In this scenario, temporary insurance provides a viable alternative.

Your short term insurance plan is also called temporary insurance, and offers typical short term benefits: primarily unexpected medical illnesses. A range of benefits including physician consults, hospitalization, prescriptions, diagnostic exams, ambulance services, and emergency care are usually part of the short term health insurance plan. As short term benefits usually go, you will not be covered for previously existing conditions and pregnancy.

Generally, temporary insurance plans are available for a month to a year, with easy renewal options. The “renewal” itself may be considered a new policy, so that the insured is once again evaluated for eligibility and new premium rates.

It is important to remember that short term insurance cannot be an adequate long-term health insurance plan. It is primarily meant as coverage for temporary periods. Long term health insurance plans offer several critical benefits not often available to the short term health insurance customer: scheduled physician visits and maternity, for instance.

When getting back on a regular long-term health plan, short-term medical insurance can often be counted toward creditable coverage for group plans. Labeling an insurance plan as creditable coverage means that the plan counts as equivalent coverage when determining pre-existing conditions and effective continuous period of coverage. Short-term medical insurance plans are usually not considered creditable coverage for individual plans.

One other factor that tilts the balance in favor of short-term medical insurance is the ease of signing up for a plan. Being a temporary plan, there are usually no lengthy underwriting procedures, and the plan can typically be purchased online.

If you are considering short term medical insurance, ensure that you want it as temporary insurance. It’s best if you are looking at purchasing short term medical insurance for six months or less. It also works well as an alternative to COBRA insurance, and can help you tide over uncertain periods in life.

Dan Miller often writes about short term insurance.

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Short Term Insurance Advantages

Thursday, December 24th, 2009

In these tough economical times, health insurance isn’t always a given. Short term health insurance is an option for those who lose health insurance due to unemployment, or who are in between plans and waiting for a new plan to become effective.

Coverage offered by short term insurance plans typically includes claims for new injuries or illness. Preventative care, including physicals or dental cleanings, is often not covered as they are in most traditional plans.

Short term plans do, however, offer coverage for the following situations: Emergency care in hospitals, outpatient doctor visits, diagnostic and lab fees and organ transplants. Some plans being offered today also include discounts on additional items, including prescription drugs, and limited coverage for dental and vision care.

Temporary insurance plans are a helpful option for those that are unemployed or waiting for Medicare eligibility to kick in. With a short term insurance plan, you often have higher deductibles and lower fees overall, making it an affordable option when you are without a traditional plan.

You can have instant access to coverage and ID cards when you purchase a short term medical insurance plan online. When shopping for a short term insurance provider, select a company with an excellent reputation who specializes in this type of insurance.

When you are unemployed or without access to a traditional plan, it can be stressful and financially draining to be uninsured. Just one injury or unexpected illness can result in large amount of medical bills that you may be unable to pay. By purchasing a short term insurance plan, you can reduce the amount of potential bills and reduce the chance of going into debt from them.

When looking for a temporary insurance plan, be sure to compare what is covered and the prices for each option. Often the cheapest plan may not offer the most valuable coverage, so compare benefits to get a good idea of what is available.

Short term health insurance offers peace of mind when you are faced with the stress of transitioning to a new job or are unemployed. It’s hard enough to lose your job without having to deal with the stress that unemployment brings. Be prepared by selecting a short term healthcare option that works for you.

Dan Miller often writes about short term insurance.

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