Health insurance is as vital to remaining fiscally fit as exercise is to maintaining your physical fitness. In the absence of a health insurance policy, individuals can easily find themselves owing an unreasonable amount of money in medical bills. While many individuals rely on health insurance provided by their employers, there are times when group plan health insurance isn’t an option. For individuals who find themselves without insurance for any number of reasons, short term health insurance is a sound alternative.
Experiencing a Status Change
Part of becoming an adult is losing your dependent status. For individuals who have recently aged out of their parents’ policies, short term insurance can be an ideal solution to insurance woes. While potentially more pricey than other insurance options, these temporary policies help insure the individual isn’t at risk while seeking other coverage. This is particularly true of those who lose dependent status and are without work, as they likely won’t have access to another insurance option. This status change can also be an issue for individuals going through divorce, as the dissolution of a marriage often presents insurance issues for spouses who used to reside happily on their partner’s policies.
Many young adults remain on their parents’ policies while going through school only to find themselves unceremoniously thrust off as soon as they graduate. If the graduate in question doesn’t have a job lined up, this may mean he’s stuck without insurance as he seeks employment. Short term medical insurance is a viable option for these new-to-the-workforce individuals as it gives them an option for medical coverage despite the fact that they haven’t yet acquired a job.
Ideally, workers leave one job and head directly into another, but sometimes this isn’t the case. If a worker loses a job or is forced to leave a position prior to having another lined up, he may not only find himself without paycheck, but also without insurance. During these between-job periods, short term insurance is the ideal option as it allows the worker to protect himself while hunting for that next job.
Sometimes, during times of on-the-job strife, employees may find themselves uninsured. Employees who, for example, are in the middle of a strike may find themselves uninsured while walking the picket lines. To ensure that these employees don’t put themselves at potentially serious financial risk, they should seek out coverage for these periods. While the workplace issue may be resolved before the employee next requires medical treatment, this short term coverage will ensure he’s protected even if he should fall ill while off the job.
Regardless of an individual’s reason for going without health insurance, there’s no excuse for remaining uncovered. The risks associated with not being properly covered necessitate that individuals seek out insurance, even when none is immediately provided to them. Should you find yourself in a position where you lose your health benefits or are no longer eligible for a group plan through an employer, you don’t have to remain in peril. Instead, seek an alternative to ensure your financial well-being.