Posts Tagged individual health insurance
Health Insurance Between Jobs Or Group Benefits
We already had a problem with health insurance in the US. I have not seen recent statistics, but even before the economy turned sour, almost 50 million Americans lacked health insurance. I am sure that those figures are only growing. People are losing their jobs and job related health insurance. Companies are slashing costs, and so they are cutting back on medical benefits, even for people who are still employed. If you lost your job, or if you lost your job related medical plan, how can you cope?
COBRA – This is actually a federal law that helps some former employees extend their group health plan benefits. Not every company is required to offer a COBRA extension, and COBRA extensions come with a hefty price tag. The reason that people say that it is expensive is because employers do not have to contribute towards premiums any longer as they did when the employees were active. So the former employee must pay the entire premium, and many of them are surprised by the cost. They had no idea how much money their old employer contributed. So while COBRA may be the best option because it extends group health insurance, many people cannot afford it and some employers do not have to offer it.
Tags: group health insurance, group health plan, hefty price tag, individual health insurance, term health insurance
Short Term Health Insurance – Flexible & Inexpensive Coverage
Short term health insurance provides inexpensive and flexible coverage against all injuries and illnesses. The medical coverage under this insurance plan ranges from 30 days to 12 months. They are specifically designed for individuals as well as families who do not need any coverage for pre-existing conditions. Mostly, these plans are open to those who are in-between jobs or waiting for another insurance coverage to become effective again. They make an ideal choice for fresh graduates, people waiting on healthcare, people in non-traditional jobs, people in career transition, temporary employees looking for medical benefits, self-employed, or even those seeking affordable option to have COBRA coverage. Foreign students can also avail this kind of insurance coverage.
These temporary health plans include hospitalization, emergency care, preventive health programs, and prescription drugs. Depending upon the plan, the insurer can avail the medical or healthcare profits and benefits. These plans often cost just one time. They are flexible and allow the holders to pay on monthly basis. They may even have a single payment choice. They are inexpensive as compared to regular individual health insurance policy. The main advantage is you can easily drop this temporary insurance plan whenever you wish.
Tags: health insurance coverage, individual health insurance, preventive health programs, temporary health insurance, term health insurance