Your Insurance Matters: Quick & Easy Health Plans

Your Insurance Matters
Quick & Easy Health Plans
By Shirley R. Lamdan, CLU, Hagerstown, MD

Summer is here and college graduates now join other shoppers for medical insurance. They include temporary employees, early retirees, people between jobs or waiting for their employer or Medicare benefits to start.
Since accidents and illnesses can happen anytime (and often occur at the worst possible moment), continuous health coverage is vital. Without insurance, treatment for unexpected issues such as food poisoning, appendicitus or a household or auto accident can involve devastating bills. Medical coverage assures timely access to care and can shield policyholders from financial catastrophe.
But health plans can be costly; the application process tends to be time-consuming and complex.
Here is one insurance solution for today's economy. In addition to health plans everybody knows about, there is a product that is simpler, faster, and cost-effective. This solution is temporary or short term health insurance.
Major insurance companies have sold this form of health protection for years. Its advantages: flexibility, a fast and simple application procedure, and competitive pricing.
Policyholders are eligible for $2 million of coverage and can choose their own health providers. Large, nationwide health networks are available for cost savings. Hospital, outpatient, and prescription benefits are included, along with a selection of deductible and coinsurance options. With some insurers, vision and dental discount programs may be available as additional options.
In need of health insurance for just a month or two? Six months? Some of these insurance products are designed to serve consumer needs from one to twelve months.
Payment methods can be flexible with monthly bank or credit card drafts; coverage can be cancelled when no longer needed. With some insurers, advance payment may be required.
Temporary or short term health plans can be more cost effective than COBRA and other types of health insurance.
Applying is quick and easy with online and paper applications. Coverage can be requested to begin as early as the next day. To speed the process, some insurers offer to email ID cards and other paperwork.
Coverage may be available with some of the companies for infants as young as 31 days; adults can apply until they become eligible for Medicare.
To identify the best insurance solution for any situation, it is always prudent to consult an insurance professional. The agent will strive to match health needs and goals with the most suitable insurance products.
The insurance professional will also explain the disadvantages of short term health products. Coverage is not designed to be permanent. Certain medical conditions and services may not be covered - depending upon state and insurer guidelines.
Perhaps other than health plans available to Congress and Federal employees, no absolutely "perfect" health insurance products yet exist in our current marketplace.
While not a "perfect" solution for every need, temporary plans, where appropriate, can offer a more secure bridge to permanent coverage by helping to shield policyholders from potentially catastrophic medical bills.

Since 1982, Shirley R. Lamdan, CLU of Hagerstown, MD has been serving individuals, corporations, and nonprofits with independent retirement and insurance services. She can be contacted at 301-791-9427 and slamdan@lamdanselect.com.