More long-term unemployed individuals are finding that options for health insurance through COBRA health care benefits may be expired or are unaffordable and, as a result of being unable to find an employment opportunity that has brought health insurance options for their personal needs, many have considered short-term health insurance plan as a way to help them cover medical costs that could arise were a catastrophic emergency to occur. Yet, there are questions as to whether short-term health insurance plans are beneficial or even affordable for these job seekers, as there are some individuals who feel that simply pressing on uninsured could be more cost-efficient as the reasoning behind a short-term health insurance plan is to simply guard against the potential medical costs that could arise were an accident or illness to suddenly arise.
While there are many men and women who are being prompted to find health insurance coverage while they are still looking for an employment opportunity, there are options like getting on a spouse’s health insurance plan, simply buying an individual health insurance policy, or for individuals who may be employed but are uninsured, a high deductible health insurance plan paired with a health savings account can also meet certain needs of these workers. However, individuals who are unemployed and looking for health insurance coverage must look at their specific situation and the costs that could come with any type of health insurance to cover their medical needs.
One of the reasons that a short-term health insurance plan has been beneficial for certain unemployed individuals is they can be inexpensive, in terms of monthly payments, but also will meet medical costs after a certain deductible is met and, when a consumer opts for a higher deductible, this could lower costs even further. However, consumers need to understand that many short-term health insurance plans are only meant to guard against excessive medical expenses and will not typically cover costs related to more routine medical visits or treatment that will fall below a consumer’s particular deductible.
Essentially, consumers who are out of work and currently seeking employment that will allow them to participate in an employer group health insurance plan must look at what a short-term health insurance plan or an individual healthcare option will mean in terms of cost and coverage and how this will affect their particular needs. Understandably, many women who may have preexisting conditions, frequent the doctor throughout the year, or may have other costs like prescriptions, may have to look at other options when it comes to insurance or cutting costs for these particular types of expenses.
While generic prescriptions, health insurance exchanges in certain states, and a variety personal health insurance options are all alternatives to a simple short-term health insurance plan, many men and women who are unemployed and have simply wanted to guard against the high medical costs that could come as a result of an unforeseen accident or injury have been able to benefit from short-term insurance, but again, these plans are only in place to set a cap on the amount a consumer will pay if medical costs are incurred and this can allow an unemployed individual to better budget so that if an accident occurs they will not face an excessive amount of debt and financial struggles to meet these costs.