| A major benefit of being a fulltime employee | | | | dependent, employees who are now working part |
| at an American corporation is the security of | | | | time or as temporary workers, and other |
| health coverage. Medical costs along with the | | | | people who are waiting for permanent health |
| cost of health insurance have skyrocketed in | | | | insurance to commence. |
| the past 60 years. Under these circumstances, | | | | |
| insurance coverage provided by employers, who | | | | While the affordable prices are attractive, |
| enjoy tax benefits for giving health benefits | | | | it's important to remember that temporary |
| to their workers, has helped foster loyalty | | | | low-cost health insurance is considered a |
| and reduced the financial stress of thousands | | | | "stop gap" for individuals who are between |
| of American employees, many of whom would not | | | | jobs that normally provide complete |
| be able to afford health insurance if | | | | healthcare benefits. These policies are not |
| purchased privately. | | | | designed as a long-term solution. |
| | | | |
| Just how expensive those skyrocketing | | | | Who Qualifies? Everyone who is young and |
| insurance costs really are becomes painfully | | | | healthy probably qualifies for temporary |
| obvious when someone loses a job. The | | | | low-cost health insurance. Those that likely |
| Consolidated Omnibus Budget Reconciliation | | | | may not qualify include someone who has a |
| Act of 1985 (COBRA), requires insurance | | | | pre-existing condition, is over the age of |
| companies to continue to make their plans | | | | 65, or who has been rejected for insurance |
| available to former employees who have left a | | | | before. Pre-existing conditions are generally |
| group policy due to unemployment. However, | | | | defined as any condition or symptom which you |
| when you sign up for COBRA, you suddenly find | | | | had during the 3-year period prior to the |
| yourself paying much more for your health | | | | start of coverage. |
| coverage than what you were paying at the | | | | |
| time you were employed. The financial burden | | | | Generally, the holder of a temporary low-cost |
| can be unbearable, as at the same time you | | | | health insurance policy should plan on having |
| have probably lost your primary source of | | | | the policy a year or less. Some policies do |
| income. The national average cost per family | | | | last 2 years, and rarely last for 3 years or |
| for COBRA is in excess of $500 a month. For a | | | | longer. Many policies allow people to renew |
| relatively healthy person who rarely visits a | | | | after the policy has run its course, but |
| doctor, the cost of COBRA may seem | | | | usually customers are limited to renewing a |
| unacceptably high. | | | | policy only once. |
| | | | |
| However, thousands of people who have opted | | | | Temporary low-cost health insurance policies |
| not to continue with their health insurance | | | | apply on a per-illness or per-injury basis. |
| because of its costs have come to regret the | | | | You will likely be required to pay a |
| choice. In fact, every 30 seconds someone in | | | | deductible, with your insurance company |
| the United States files for bankruptcy | | | | paying some portion of the next $5,000 in |
| following a major medical emergency. The vast | | | | healthcare expenses, before 100 percent |
| majority found themselves seriously sick or | | | | coverage takes effect. Plan maximums are |
| injured without health insurance coverage. | | | | typically $1 million to $2 million. |
| Fortunately, an inexpensive alternative to | | | | Healthcare expenses ranging from emergency |
| COBRA exists that can fill in the gaps | | | | services to surgery, prescription drugs to |
| between jobs. Temporary low-cost health | | | | hospital care are typically covered by the |
| insurance typically has a much higher | | | | policies. |
| deductible than COBRA, but also very | | | | |
| affordable rates. It's possible to receive | | | | If you do have a pre-existing condition, it's |
| coverage in a matter of days, if not hours. | | | | unlikely you will qualify for temporary |
| | | | health insurance. But it's still too |
| Who generally purchases short-term temporary | | | | financially risky to function without some |
| health insurance? The list includes people | | | | kind of insurance coverage. Your best option |
| who have left a company for another job or | | | | may be to apply for a low-income health |
| were laid off, students wh are about to | | | | insurance plan. Medicare, a health insurance |
| graduate from college and need a plan to | | | | program of the federal government, covers |
| cover them after they leave school and before | | | | senior citizens aged 65 and over, as well as |
| the enter the workforce, spouses waiting for | | | | the disabled of any age. Medicaid is usually |
| coverage from a wife or husband, young adults | | | | available for pregnant women, depending on a |
| who are coming off parents' health plans as a | | | | woman's income and family size. |