Saturday, January 24, 2009

Health Insurance Options For Unemployed

There are many people who are unemployed or in between jobs. The major worry for them is about the health insurance plans during the period of unemployment. It can be few weeks to months. In between jobs, you may be looking for financial assistance from friends and relatives even for day-to-day expenses. In this situation, you will not able to face the challenges put forth by the unexpected illness or accidents. If there is a medical emergency, you will be drowning in unwarranted exigencies. So it is imperative for an unemployed person to have sufficient medical insurance coverage.

What way one can manage good health insurance coverage without thinning the wallet of an unemployed? Unemployment period will be typically very short. You will be looking for the low cost scheme during this period. There are some options for the unemployed people to have a perfect coverage.

(i) One of the options is that you can ask the previous employer to have group insurance coverage for a short period more after parting the company. This can be in your retirement package. Mostly the employers will be ready to accept it. Basically this scheme is covered in COBRA. This is a law, which entitles you to get the health insurance coverage under the group insurance plan of previous employer even after leaving the job. 
(ii) Another option is to have some low cost family medical insurance plan. In any case, your family will have a comprehensive package. You can be a member of that scheme. 
(iii) A third option is to avail the health insurance benefits through the spouse's group insurance scheme. The employer of the spouse would have necessarily offered a group insurance plan for the employees of the company. You can enroll yourself as part of the group insurance as a dependent of your spouse. 
(iv) There are many social groups, which have group medical reimbursement coverage. You can become the member of such schemes. It will save you lots of money and get the necessary medical coverage as well.

If you are presently unemployed, there is good likelihood that individually you and also your family are not under the purview of any health insurance plan. This is really a high-risk period. In case of emergencies requiring immediate medical attention, this situation can make your financial position vulnerable. It is in your interest, you should see the means and ways to get sufficiently good insurance cover for you and your family.

Unemployment itself is stressful. Added to it if you do not have a proper medical insurance cover, it will add up your tension. You can find out many options, which will help you to get low cost schemes during the unemployed period. You have to be little much careful and confident, that's all. You can spend some your efforts and time in the Internet to identify a reliable health insurance plan for the unemployed.

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