subject: Considerations On Short Term Health Insurance [print this page] Health insurance has been a crucial aspect in daily living simply because of medical costs spiraling no end. A lifetime of savings could be wiped out at a snap of a finger, when a serious accident, a precarious illness, or a debilitating situation occurs. Often people find themselves in a bind, having no effective health insurance for various reasons, including getting detached from parents' coverage, getting in between jobs, or graduating from college.
The best option is to choose short term health insurance. This type of insurance gives you the flexibility to choose insurance coverage with relatively brief durations, ranging from 6 months to 36 months, with one year being the usual and popular coverage duration. Although lasting for only a relatively short period of time, short term insurance affords you ample protection from possible physical and even financial endangerment.
The importance of health insurance could not be over-emphasized. It not only gives you the chance to avail of preventive medical measures such as immunization shots and regular physical examinations, but it also provides the avenue for you to be able to keep track of the onset of new illnesses and effectively gives you better medical treatment on early detection.
Statistics have shown that people who have no insurance have a rate of between 30 to 50 percent of needing serious medical attention for situations which can be avoided outright compared to people who are properly insured. For young and healthy people, health insurance is not a priority.
But if you analyze a situation where you are committed to an emergency treatment, and the cost will run up to several thousands of dollars, you may come to grips that having even a short term insurance could be very well worth it. In the long run, insurance coverage plans are far more cost effective and beneficial than going about living without it.
Short term health insurance gives you the flexibility to go through transition circumstances with enough security in mind. This is regardless of what age bracket you belong. Healthy individuals are the prerequisites of such short term insurance policies. Under ordinary circumstances, those with pre-existing conditions could not qualify for such insurance. Short term insurance is given on the presumption that such policy would not be used in its course.
By its nature, these short term policies are much cheaper than the standard insurance covers. When you happen to be disengaged with a job related policy or a family or group policy, you can resort to COBRA or the Consolidated Omnibus Budget Reconciliation Act to extend your policy subject to certain conditions. This extension however, appears to be more expensive than getting short term coverage.
On top of this, you must be fully aware of the terms and conditions of your policy, including your privileges and responsibilities before letting your policy expire.
Considerations On Short Term Health Insurance
By: Terro White
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