Health insurance premiums have nearly doubled in the last ten years. Everyone talks about trying to lower costs of health care, but the reality is medical insurance is something we just expect to work without our thinking about it too much. Most people get coverage through their employer. Usually this is the best option for people because the employer pays for a majority of the insurance coverage. However if you are between jobs or waiting for your benefits start, your monthly premium could be prohibitive.
Short term health insurance plans are available to cover major medical issues without costing so much. COBRA plans are based on the insurance plans offered by an employer. These plans can be more expensive for several reasons. Employer based plans are deducted from the taxes of the company. This is a part of the reason that the plans have more benefits and cost more each month. People don't realize how expensive it is until they are between jobs and are asked pay for it themselves. If you are healthy, short term health insurance plans can help bridge the gap at a fraction of the cost. Information is widely available on the internet and you can get a plan in a few minutes with coverage starting as early as midnight of the night you apply.
Some individual plans can take a little while to underwrite for the company to look at your medical history. In these cases you would complete an application online and pick the benefits and premium that suits your needs. At that point, the insurance company will request a telephone interview or getting doctors records to finally approve the cost and benefit of the program. While this process can take a few days, it can be worth it. Short term health insurance plans are instant issue generally. Instant issue means that you answer a brief questionnaire and they determine whether you qualify for the policy or not based on the information you provide. They will ask you if you have certain health diseases and conditions. If you answer that you have some of the issues then you do not qualify. If you answer that you do not have the health problems, then the policy can be issued within five minutes and your cards emailed to you instantly.
It is important to consider this underwriting issue because everyone can not qualify for these less expensive plans. Employer health plans cover everyone regardless of their health history. There are plans for everyone but the least expensive plans will be available to the people who do not have health problems outside of an employer. Don't pay for COBRA if you qualify for short term health insurance plans. You will save a substantial amount of money on alternative health insurance plans.
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