Why Get Temporary Medical Insurance?

Written by Lindsay Torres on July 4, 2010 – 6:31 am

There are a lot of people losing their major medical health insurance coverage these days whether it is from being laid off or just because of company cutbacks. If you have lost your job or lost your group health insurance plan, you should consider getting temporary medical insurance because it can save you from potential financial disaster for a fairly reasonable price. If you have a family and one of your children gets hurt and has to go to the hospital for a couple of days, you will spend in the thousands of dollars to pay the bill.

Temporary medical insurance is a way to cover yourself and your family in between jobs or while you are on sabbatical or just don’t have group health coverage. This type of insurance will not cover pre-existing conditions though. If you have a chronic medical condition or someone in your family has one, you will have to cover the expenses for treating this condition yourself. A temporary medical insurance policy will not cover pregnancy either. You usually can’t even add maternity coverage to a plan like this.

Temporary medical insurance is strictly a way to protect you and your family from a catastrophic illness or injury that would otherwise cause you to incur extreme debt or to use all your savings to pay for medical costs. These plans typically last for less than 12 months. Most people who need to have individual medical insurance coverage for longer than this will be better off with a regular permanent individual or family plan. Temporary plans sometimes last only for one month or a few months until permanent insurance can be obtained.

Many people think that it is cheaper to purchase a temporary plan and just renew it when it ends. This is not a good idea. It is usually cheaper and will give overall better coverage if you just purchase a permanent medical insurance plan if that is truly what you need.

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