There is a sad truth that someone you know or even yourself may lose your job or get a divorce. During this already stressful time you may temporarily lose your health insurance benefits. A perfect solution is to purchase a low cost interim health insurance policy.
You can secure interim health insurance from 1 month to 12 months. It can provide you security until you get a permanent solution. If you find you need to extend the terms you purchased most insurers are happy to do so.
A good way to shop for a plan is online. Many sites offer comparison rates. The plans tend to carry the very similiar benefits, but rates can vary. You also need to consider how you would like to pay. Is your budget better month to month or would you rather pay the entire term up front?
These plans will cover the basics, hospitalization, emergency care, x-ray, lab and prescriptions. These benefits are usually covered once a deductible is meet. They will not cover any pre existing condition however. They also do not cover routine or preventative visits to your doctor.
Because interim health insurance is exempt from HIPPA legislation you are not guaranteed renewal. You are not guaranteed approval either. What this can mean for you is that if you have some sort of condition that you have had a diagnosis or treatment for in the past 5 years these plans will most likely exclude that condition.
These plans are already low cost, but you can do some things to make it even more affordable. What many people do is take a high deductible. They find $5000 dollars to be a comfortable deductible since this insurance is only for a short time. You could pay as little as $1 a day for one of these plans.
Here is a good example of how beneficial even a high deductible plan can help you. Carol's plan has a $3000 deductible and 80/20 co insurance with a $5000 maximum out of pocket. Carol went into the hospital for a ruptured cyst. Her bill for the 3 days of hospitalization was $12000. Carol must pay $3000 to meet her deductible, that leaves $9000. She then must pay 20%. So she will pay $3000 + $1800 for a total out of pocket of $4800. the insurer will pay $7200.
As you can see an unexpected trio to the hospital can be a huge expense. Can you imagine paying that entire expense. You could likely end up in bankruptcy. Too many take the risk.
You can secure interim health insurance from 1 month to 12 months. It can provide you security until you get a permanent solution. If you find you need to extend the terms you purchased most insurers are happy to do so.
A good way to shop for a plan is online. Many sites offer comparison rates. The plans tend to carry the very similiar benefits, but rates can vary. You also need to consider how you would like to pay. Is your budget better month to month or would you rather pay the entire term up front?
These plans will cover the basics, hospitalization, emergency care, x-ray, lab and prescriptions. These benefits are usually covered once a deductible is meet. They will not cover any pre existing condition however. They also do not cover routine or preventative visits to your doctor.
Because interim health insurance is exempt from HIPPA legislation you are not guaranteed renewal. You are not guaranteed approval either. What this can mean for you is that if you have some sort of condition that you have had a diagnosis or treatment for in the past 5 years these plans will most likely exclude that condition.
These plans are already low cost, but you can do some things to make it even more affordable. What many people do is take a high deductible. They find $5000 dollars to be a comfortable deductible since this insurance is only for a short time. You could pay as little as $1 a day for one of these plans.
Here is a good example of how beneficial even a high deductible plan can help you. Carol's plan has a $3000 deductible and 80/20 co insurance with a $5000 maximum out of pocket. Carol went into the hospital for a ruptured cyst. Her bill for the 3 days of hospitalization was $12000. Carol must pay $3000 to meet her deductible, that leaves $9000. She then must pay 20%. So she will pay $3000 + $1800 for a total out of pocket of $4800. the insurer will pay $7200.
As you can see an unexpected trio to the hospital can be a huge expense. Can you imagine paying that entire expense. You could likely end up in bankruptcy. Too many take the risk.
About the Author:
Broker Jeff Cline is here to help your needs and assist you get interim health insurance to give you security during you time of need. Jeff can also assist you get permanentindividual health insurance. Call him anytime for assist. His toll free number is 866-526-9669.
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