As more individuals remain unemployed for a longer period of time, personal health insurance options for unemployed men and women through COBRA and alternative options are becoming more sought out like those who are either in need of some form of medical coverage or, for the long-term unemployed, options are needed that go beyond COBRA when these benefits expire. While COBRA insurance has been one of the lifelines that some unemployed men and women had after losing their jobs, the expiration of these benefits or the expense has caused some to seek out alternative forms of insurance while they are looking for a job.
Obviously, many unemployed individuals who may be relying on unemployment insurance simply cannot afford a traditional, individual health insurance plan, but individual health insurance options are still available despite the face a policyholder may be unemployed. While, again, the cost of individual health insurance plans can be expensive, there are those who have turned to these options as a way to find the coverage they need so that medical expenses that are incurred while an individual may be jobless will not be overwhelming.
Understandably, there are those who worry about unexpected medical expenses, injury, or treatments that may be required and it goes without saying that when these costs must be paid out of pocket, many men and women find themselves in a difficult financial position as a result. However, those who have lost their job do have COBRA health insurance opportunities for a set period of time, which could help provide the coverage they need while they are looking for another employment opportunity that will hopefully offer them an employer health insurance option.
However, some individuals have also turned to short-term health insurance plans as a way to cover themselves against high medical costs, but these plans are usually not as inclusive as other health insurance options. Yet, short-term health insurance does only require that a certain deductible be met if an unemployed policyholder does need medical treatment and this could obviously keep health insurance costs to a minimum, as the deductible that must be met will be essentially a cap on the amount one must meet when paying for medical costs.
There are, though, health insurance options through trade unions and even alumni associations, as well as, some state health care plans that are accessible to those who are unemployed so simply relying on COBRA isn’t the only option. While one’s location and unemployment situation will affect health insurance options in many cases, advisers have suggested that unemployed men and women explore these alternatives if COBRA or individual health insurance is too costly but they are still in need of coverage while seeking employment.