When people find themselves suddenly unemployed, health insurance tops their list of “concerns.” In such situations, it is worthwhile to look at short term health insurance, with its myriad features, as a possible option.

Short term medical insurance is ideal for those who are recent graduates, in between jobs, waiting for employer insurance to kick in, and part-time employees. Early retirees can also purchase alternatives to COBRA insurance to tide over the period before Medicare benefits can be availed.

Usually, when one loses his/her job, COBRA insurance is offered as an option. COBRA insurance offers health insurance with long term health benefits, but at a higher rate than employer-sponsored insurance and sometimes, health insurance for unemployed as well. That makes health insurance for unemployed a very desirable option.

If you are put off by the lengthy underwriting processes characteristic of long term insurance, short term health insurance offers just the opposite experience: simple and easy underwriting, with plans becoming valid as early as the next day. If you have any pre-existing conditions, though, they will not get alternatives to COBRA insurance coverage.

When you purchase a COBRA insurance alternatives plan, you will be covered for any illness or injury that did not exist earlier, as defined by the look-back period. You will be covered for inpatient and outpatient care including surgery, diagnostic examinations and prescriptions, and also for ambulance services. Your plan might also cover scheduled doctor visits.

Exclusions of COBRA insurance alternatives plans are pregnancy, eye and dental care, and any surgery considered elective or experimental. As mentioned earlier, pre-existing conditions are also not covered.

Short term insurance plans come in many flavors, and each plan usually features many deductibles and co-pays to choose from. Plan premiums also depend on the maximum coverage chosen, so that different folks can choose different plans that work for them.

When you purchase COBRA insurance alternatives, you might be tempted to continue on it for a long time. However, it is designed for short periods, and you must ideally not exceed a year or so in short term coverage. If your insurance situation is uncertain, you can renew the plan monthly, for the maximum period specified in the plan.

Dan Miller frequently writes about alternatives to COBRA insurance

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