Temporary Health Insurance: When Do I Need Temporary Health Insurance?
June 8, 2007
Temporary health insurance offers medical coverage for those who have a lapse in their regular health coverage, due to being in between jobs, on strike or other reasons. The temporary plans usually have inexpensive premiums are only provided for a short period of time. Most offer it up to a period of 6 months. The temporary health insurance plans cover what most regular health care plans do, except your preventative care costs, pre-existing conditions, and any regular medical exams. They also don’t offer any coverage for dental or optical needs. They’re meant for the emergency care costs, prescription drug costs and the lab and x-ray costs should they occur. Check with each plan to see exactly what they do cover.
The decision to get temporary health coverage is a personal one. If you consider yourself to be healthy and don’t think you’ll ever use it, consider the many people who felt the same as you, only to regret that decision. Most people who don’t purchase any type of temporary coverage make that decision based on the fact they believe they will save money in the long run.
Out of those who doesn’t purchase any temporary plans, most of them will end up with something unfortunate happening during the time when they didn’t have their regular medical coverage. The temporary health care plans would ordinarily step in and cover them, but if they didn’t purchase any coverage, they would ultimately be responsible for the care costs that they would incur.
If you want temporary insurance in place but can’t afford it, talk to a health care insurance provider who offers short term health coverage. You may be able to get an affordable package by going with a higher deductible so the premiums will be lower. Compare with other companies as well to see if you get a deal you can afford.
Before purchasing a temporary plan, be sure that what you’re buying will cover any costly medical expenses. Do your math and determine if what they’re offering will save you money when you need it, or if it will cost you a bunch of money in the long run. Think about how much the premium and the deductible is and compare it to medical costs that might occur. Would it be worth it?
As long as you can find a good deal on temporary health coverage, it would be worth it to have just in case something comes up. Emergency medical costs these days can be astronomical, so if your short term coverage would pay for a good portion of that, you wouldn’t have to worry about paying the high medical costs.
