Individuals who are unemployed have been able to take advantage of short-term health insurance plans over the past months as a way to cover themselves in the case that a sudden medical emergency arises, which may necessitate high medical expenses. Yet, there have been many jobless individuals who question whether it’s wise to obtain these types of health insurance plans as, for many, income from either unemployment benefits or jobs that may be offering meager earnings will not meet the costs of health insurance.
Short-term health insurance plans are not simply for unemployed individuals, but have been used by those who are without coverage from their employer, self-employed, or who may not qualify for COBRA healthcare benefits. These types of health insurance plans are usually only acquired to allow an individual to avoid excessive medical costs if an emergency situation arises. Basically, this means that routine visits or checkups may not be covered under these plans, but major surgeries or treatments will not bring about medical care debt that is unmanageable for those who may be out of work.
Yet, it’s understandable that many unemployed men and women or those who are living on a reduced income, may be unwilling to devote money to a health insurance plan, especially since their financial situation has them living on a very tight budget. Arguments for short-term health insurance plans have usually stated that the monthly payments are lower in cost than those associated with COBRA health insurance plans, but again, even a low-cost payment may be more than an unemployed individual can afford.
Again, this insurance which can guard a policyholder against high medical costs associated with catastrophic medical emergencies is simply used as a way to avoid financial burdens if a bad situation arises. Unemployed men and women feel that, essentially, purchasing this type of health insurance at a time when their income may be small will only create more problems than the assistance it could provide.
While, in most cases, anyone who is in need of major medical treatment or procedures may benefit from short term health insurance plans, unemployed men and women are being advised to look at their personal financial predicament, explore short-term health insurance options if they are considering this type of coverage, and simply proceed after they have done the research as to whether they can afford this type of preventative coverage at the present time.