REDLANDS, Calif., Dec. 16 In this tough economy manyAmericans are losing their jobs and are facing the unpleasant task of lookingat alternative health insurance options. Not only can the loss of income be aserious financial challenge for most individuals and families, the loss ofhealth care benefits can be devastating. Even in the midst of the mortgage andbanking crisis, medical bills remain the leading cause of bankruptcy filings.Most financial analysts agree that in order to survive these tough economictimes, maintaining health insurance coverage is crucial and should be a topranking necessity just below the need for housing and food.
Many individuals only look at their current medical expenses to determineif they can do without health insurance and choose to take the risk that theywill not need hospitalization or incur greater medical expenses. With anaverage hospital stay exceeding $4,000 a day, not having health insurancepresents a big risk of financial catastrophe. A $50,000 emergency savingsaccount that took years of discipline to grow would be wiped out in less than2 weeks. Even a low cost major medical plan with a $10,000 coinsurance maximumwould be a financial savior in this situation.
However, this is easier said than done. For many people that have recentlylost their jobs, paying health insurance premiums becomes virtuallyimpossible, because they are forced to pay the COBRA premiums if they wish tocontinue coverage under their previous group health insurance plan. COBRApremiums can be very high and impossible to afford by individuals or familieswithout enough emergency savings. When faced with this dilemma, it is moreimportant than ever to get professional advice in understanding your options.If you have been insured under your employer's group health plan, knowingwhere to go for personal health insurance guidance can be intimidating. How doyou know if you are getting good advice or just a "pitch" from an insuranceagent trying to make the sale? How do you know which health insurance optionis best for you and your family based on your financial situation?
A good place to start is by taking 30 minutes to read the "Guide to FamilyHealth Insurance" found on http://www.healthinsurancefinders.com . Here youwill learn about the different options available to you and all of the thingsyou need to consider in reviewing these options. Once you have attained thebasic knowledge provided in this guide, you need to seek the assistance of alicensed health insurance professional in your state who can provide you withfurther guidance and walk you through a plan comparison process. Speaking witha few different insurance brokers, and choosing the one with whom you are mostcomfortable is highly recommended. One of the first things you need to discusswith an insurance broker is your current eligibility status. All insurancecompanies have health underwriting guidelines of whom they will insure or not,and a knowledgeable broker is familiar with these guidelines.
If you have any existing or recent health concerns, regardless of howminor, this should be the very first thing to discuss with your insurancebroker. Your plan options and rate quotes are irrelevant if you are classifiedas uninsurable. Pre-existing medical conditions, as well as smoking and beingoverweight, can also affect the rates that are quoted to you. So, be honest,since the truth is likely to surface during the insurance company'sapplication review process. The last thing you want to do is acquire healthinsurance through a falsified application. Insurance companies have theresources to determine if your medical condition existed prior to applying andcan deny claims or cancel your insurance policy as a result.
If your insurance broker informs you that you are uninsurable, speak withat least two or more brokers to see if they might represent an insurancecompany with looser guidelines. Be cautious of "discount" health plans. Theseare not insurance policies and will provide you little or no protection in theevent of a major medical claim. These plans are often disguised as "healthinsurance," so you receive information on a plan that seems "too good to betrue," be diligent about verifying this coverage with your State Department ofInsurance before purchasing.
HealthInsuranceFinders.com ( http://www.HealthInsuranceFinders.com )offers free services to provide you further assistance in your search forhealth insurance, including a health insurance agent directory for finding anagent in your state, a Guide to Choosing and Using a Health Plan, informationon government sponsored health plans, an advice forum, links to stateresources, State and Federal COBRA regulations, information on Children'sHealth Insurance Programs, a glossary of health insurance terms, and muchmore. HealthInsuranceFinders.com is a division of HealthCare.com, Inc., anonline health vertical search company focused on helping users make informedhealth care decisions. HealthCare.com is headquartered in Miami, FL withadditional offices in Redlands, CA. For additional information, please visithttp://www.healthcare.com
The content of this article is provided for informational purposes only.This advice is not intended to constitute or be a substitute for professionaladvice, whether legal, medical, financial or otherwise. You should always seekthe advice of a licensed insurance agent, physician, attorney, or otherqualified professionals with any questions you may have regarding insurancelaws, medical conditions, treatment options or any other questions related toinsurance coverage, medical, health or legal matters.HealthInsuranceFinders.com & HealthCare.com, Inc., are not responsible orliable for any consequences relating directly or indirectly to any action orinaction you take based on the information provided on this release andwebsites. The HealthInsuranceFinders.com & HealthCare.com websites andcontents therein are provided by HealthinsuranceFinders.com & HealthCare.com"AS IS" without warranty of any kind, either express, implied, statutory orotherwise, including, but not limited to, the implied warranties of title,non-infringement, merchantability or fitness for a particular purpose.Without limiting the foregoing, HealthinsuranceFinders.com & HealthCare.commake no representations or warranties about the accuracy, reliability,completeness or timeliness of the content provided on the Website, content orpress releases.Contact: Todd Faucher Executive Vice President 1-877-887-5267 [email protected]