As discovered during the recent debate about healthcare reform, there is an unforeseen voice in the growing group of young American who do not have health insurance. Young adults in the 18-29 age group are increasingly reporting that they don’t have health insurance. This group includes those who are not employed or who are employed but facing long wait time times before they can get insurance from their employer. For young adults facing these challenges, short term insurance can be a great way to protect against high medical costs.
College students (including interns who are unpaid) and contract workers are often unable to access healthcare options. With short term insurance, these young people can ensure medical coverage in case of an emergency.
Most traditional insurance plans vary in the expenses and fees associated with them. Plans that are sponsored by an employer are typically paid for on a monthly basis, with the cost of the plan deducted directly from the insured person’s paycheck.
Unemployed individuals can purchase individual health insurance plans, however, these are often very costly and offer limited coverage. For a student struggling with bills, these plans can be an overly expensive option.
As an alternative to individual plans, a short term insurance plan can be a great alternative. These plans are typically purchased to cover shorter period of time and don’t require that the insured person be employed for sponsorship. The insured person pays all of the expenses associated with the plan, however, these are typically lower than paying for a typical long-term health insurance plan.
Health insurance coverage is just as important for young people as it is for older Americans. When someone has been injured in an accident or illness, short term health insurance is an effective way to manage the high expenses of medical care.
The best way to find the right short term insurance plan for you is to research several of the companies that offer them. Find out how much a plan costs and about any limitation and restrictions that may be included.
Understanding a short term insurance plan now can save valuable time and money down the road should you become sick or injured. Protect yourself by insuring a healthy and happy future.
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