For unemployed individuals looking for health insurance here in June, the costs that they may have to meet are, in the majority of cases, on the rise, but according to surveys by Standard & Poor’s, these increases have been slowing, which could be good news for some consumers. However, some unemployed individuals may have seen health insurance costs increase, even when they are attempting to keep these expenses to a minimum through the use of high deductible health insurance plans and short-term options.
However, depending on where an individual is during the unemployment process, there are some that are still able to take advantage of COBRA health insurance benefits, but for those who cannot afford this particular cost or costs from a personal health insurance plan, there are affordable rates in premiums that may be available through these high-deductible plans. Yet, consumers must understand that the rates and premium payments they will face will obviously vary from one insurer to another, and depending on their individual situation could be more expensive or more affordable from on person to another.
While there are some options for short-term health insurance that may bring premiums for less than $100 a month, this is one of the more basic opportunities that consumers will have when it comes to guarding themselves against high medical costs. In many cases, unemployed men and women who are looking into these plans can find a relatively affordable premium payment, as there are some offers that may range between $60 a month or $80 a month, with a deductible of around $2000 or $3000, but this is only an example and there are many insurers that offer a wide range of opportunities that may fall within or beyond these numbers.
The reason behind acquiring unemployment health insurance has usually centered around the fact that consumers who do fall prey to an accident, illness, or injury may meet excessive costs that will do a great deal of damage in their financial life. While someone who is unemployed might feel that the costs associated with health insurance, even those like a short-term health insurance plan, are unnecessary, consumers who have been more cautious are acquiring these plans simply because an unforeseen catastrophic accident could lead to an extended stay in the hospital or high costs related to medical treatment.
Yet, these high deductible plans, while they may not be cheap for some, do at least set a cap on the amount that a policyholder may have to pay, and this could help better prepare someone who is unemployed when it comes to saving for these unexpected costs. While it does give peace of mind to some unemployed people to have these plans in place, consumers should understand that there are more comprehensive coverage options available, which will again vary depending on their situation, state, and needs, but a short-term health insurance plan or high deductible policy will usually not cover a wide range of costs like a routine visits or prescriptions, in some cases.
Even though there are some employers who are not offering health insurance at the present time for their workers, it’s at least helpful to know that, if an income is available from a job, a more comprehensive option like a personal health insurance plan may be available. For those who are jobless though, these short-term health insurance plans have been seen as a safety net, but again, a great deal of research should be conducted by anyone who is considering one of these health care plans and comparisons should be conducted across various insurers so that a consumer can get the best coverage for their needs. Again though, consumers should not see these types of health insurance plans as a long-term solution, as some may offer little coverage and this could be more costly to individuals who meet more frequent expenses related to health care.