Being unemployed can be a financial
downside to say the least. You may be dependant on someone else to cover
your daily expenses such as a place to live and food to eat. Health
insurance is something that everyone needs and not enough people have
available because of these other financial burdens. Any emergency such
as a car accident or broken bone will require adequate medical
assistance. What do you do when you don’t have insurance and can’t
afford expensive medical bills? If you are unemployed, you need to find
health insurance to prevent this from happening.
COBRA is a law
in which many people could be eligible to remain on an employer’s health
insurance plan even after they lose their employment. The most ideal
person for this coverage is someone who is between jobs and is not in
need of long-term help. It can last at least a year to those who
qualify, but the premium amount is still an expense that some unemployed
individuals may not be able to take care of with their lack of income.
If you are able to pay the premium and are eligible, COBRA will also
cover your spouse and children who are dependent on you for insurance.
The best way to determine if you could receive health insurance is to
contact your local employer’s benefits department and fill out the
required forms.
You can also shop around for typical health
insurance. Many free Internet services are proven reliable by the Better
Business Bureau Online. By speaking with one of these insurance
experts, you can get help finding the most affordable health insurance
that will fit your specific needs. They know the rates of thousands of
insurance companies and can fix you up with appropriate coverage for
your specific needs. If you have a spouse or children, having health
coverage is a necessity. Life is full of unexpected events and you
cannot ensure that everyone will stay completely healthy until you have
insurance again because accidents do happen. Finding an affordable
coverage rate on your own can be a hassle. The experts at these
companies are offering their assistance to you, often as a free service.
Whether you need to find something short-term or for an extended
period, they are qualified and dedicated to helping you.
If you
find yourself unemployed at any time in your life, you are probably
without health insurance. This can be a nightmare whether you have a
family or not because medical expenses can put you into debt quickly.
Luckily, there are ways of finding affordable coverage providers that
can keep your health, as well as your finances, safe. A simple doctor
visit can cost you significantly more money than it would with
insurance. Do not let yourself become one of the many people who are
unfortunately living life without proper insurance coverage.
Advantages to Managed Care Plans
There are many different types of Health insurance plans out there. Picking the right one for yourself can be troublesome in the beginning, especially if you don’t know what you are looking for. You might have trouble deciding which one would be better for you.
Health insurance is divided into two large categories-indemnity and managed care plans. Indemnity plans, also commonly called reimbursement plans, will reimburse your medical expenses up to a certain limit. Under the Reimbursement plan, the insurer pays a percentage of the total charges, regardless of how much the charges are. With the indemnity plan, the insurer will pay a specified amount every day for a specified number of days. The amount reimbursed does not rely on the cost of medical care, but what you are reimbursed will never exceed your expenses.
The other popular type of health insurance plans is managed care plans. The three types of policies categorized as managed care plans are HMOs, POSs, and PPOs. This type of insurance is more popular than the indemnity plan, as they offer more flexibility. With these types of options you either pay a monthly fee no matter how many times you see a doctor, or pay a co-payment but no monthly fee. With managed care plans, you are given options of care. The plan you choose and the amount of money you wish to pay determines how big of a network of doctors and specialists you can see and still be covered under the plan. Some managed car plans (most often PPOs) offer sponsorship programs from a network of hospitals and medical services. You can often get this kind of plan through your employer.
Managed healthcare plans are better for the average person due to the fact that they are more cost effective. While indemnity plans may give you a lot more freedom in cost, you will have to use the healthcare provider that the insurer chooses. If you have a specific disability, this can present itself as a problem. In the long run, a managed care plan will save you money, especially if emergencies arise when you are out of town. These types of plans also are more flexible in policy. Before you purchase any kind of health insurance, be sure to research the many options available for you and your family to ensure you receive the best coverage possible for the lowest monthly premium or deductible.
Disability Insurance
We all know how important typical health insurance is, but did you know that disability insurance is just as important? In the event that you are hurt on the job, and cannot work, disability insurance will give you peace of mind-you will still able to provide for your family. While we would like to think that we always work safely, accidents do happen and you need to be sure that you have every angle covered in the event of an accident. If you become ill or injured on the job and as a result you are unable to return to work, there are a couple of options that will replace lost income. These types of disability insurance are not going to fully replace your income because they want you to have an incentive for returning back to work once you get well.
Social Security benefits are paid to you when your disability is expected to last for at least 12 months. Most of the time this is when no gainful employment can occur and you must remain out of work for the entire duration of your leave. Employer-paid disability is required by almost every state in the United States. This type of disability insurance is deducted from your paycheck, and is there for you in the event of an accident. When you are looking at disability insurance policies, it is important to understand what they mean. While the two available policies are both for disability, they both cover a different amount of time you will be covered, and when you will start receiving your compensation.
A short-term disability policy means that you will be covered for no longer than 2 years. With this policy you may have to wait up to 14 days before you start receiving compensation. A long-term disability policy is a little different. The disability compensation will not kick in for several weeks, sometimes a couple of months. However, long-term disability will cover you for a longer period of time, and sometimes for the rest of your life.
Along with having the two different types of insurance policies, there are also two different protection features. Protection is offered to you to ensure that you are not going to be treated unfairly due to your inability to work. Non-cancelable means that for no reason other than not paying your premiums can your policy be canceled. With this type of policy you will lock in your premium and will not risk a decrease in the benefits. On the other hand, a guaranteed renewable policy means that the same benefits will be available every year. The only way that your premium will be increased is if every policyholder within the same rating class as yourself increases also.
While there are many options when choosing disability insurance as well, these are the most popular selections. It is important to discuss all available options when choosing a disability insurance policy to ensure that you know what you will receive in the event of an accident or illness. Research your options to find the best choice for you and your family.