Short Term Health Insurance Options

Few will argue that the present state of our economy is by any means good. With elevated levels of those unemployed, coupled with stagnant wages, many households are finding it extremely difficult to pay ordinary bills. Employers, also feeling the pinch from consumer belt tightening, and also facing challenges in remaining profitable. Unfortunately, many of these businesses are finding that they have no choice but to reduce or eliminate the health insurance benefits they provide to their employees.

Employees, who once relied heavily on employer sponsored health insurance, now are confronted with the stark reality that businesses can no longer afford to pay monthly premiums. In fact, recent statistics indicate that just under 45% of employed workers are covered by an employer sponsored medical insurance plan. Where then are these people obtaining their coverage from?

Sadly, many employees that cannot get or afford health insurance through their employer are simply forgoing coverage altogether. These people, which are gainfully employed, do make up a significant percentage of the growing uninsured population. At the present time, just over 17% of the adult population lacks medical insurance. Many economists are predicting that the uninsured population will continue to grow as the world copes with its deepest recession since the Great Depression.

Those that are unable to obtain medical insurance through their employer do have options. Many states across the country do offer assistance to those without coverage. Some of the state assistance programs allow people to temporarily enroll in Medicare, while others offer direct financial aid to qualified enrollees. Individuals which do not qualify for government assistance also have the option of purchasing a short term health insurance policy.

Short term health insurance was originally designed to help people maintain coverage between jobs. But with the employer sponsored health insurance model fading, many people are choosing to obtain their own private insurance. As one would suspect, short term health insurance policies vary in coverage and price. In fact, many of the short term policies being written today also include prescription drug coverage, minimal co-pays and access to wide networks of physicians and hospitals.

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