With unemployment on the rise and millions of long-term COBRA beneficiaries reaching the end of their allowable period of benefits, many Americans now face the need to find temporary medical insurance. Since health systems and consumer plans have historically assumed that Americans would receive coverage through the insurance of a working person in a traditional nuclear family, most people think of purchasing alternatives as prohibitively expensive.
Fortunately, times are changing. The health care industry has begun to recognize all of the changes to occur in the American family. Some people choose self-employment; others opt out of the traditional system for short periods of time; the nuclear family may no longer be the norm. What this means for seekers of temporary medical insurance is that there are now more options than ever.
If you’re in the market for temporary insurance, two pointers are as follows: begin your search for insurance online and take the time to gather and compare several quotes.
Search online. You won’t get the best rates by calling a previous provider and asking what they would charge you for temporary medical insurance. Most insurance companies are not set up to deal directly with individual consumers. For this reason, going to a clearinghouse that deals with multiple providers (who compete against each other for your business) is the first step toward ensuring you won’t pay too much. Also, online companies have diminished overhead expenses, which keep fees low enough to save their customers money.
Compare quotes: Once you have received competitive bids, go farther than just looking at the price. In addition to premiums, there are ongoing costs. What are key plan features? How are prescriptions, hospital stays, and co-pays handled with each individual plan? By being circumspect near the beginning, you will find the best solution the end.
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