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HealthInsuranceFinders.com Publishes Health Insurance Guide for the Recently Unemployed
Date:12/16/2008

REDLANDS, Calif., Dec. 16 /PRNewswire/ -- In this tough economy many Americans are losing their jobs and are facing the unpleasant task of looking at alternative health insurance options. Not only can the loss of income be a serious financial challenge for most individuals and families, the loss of health care benefits can be devastating. Even in the midst of the mortgage and banking crisis, medical bills remain the leading cause of bankruptcy filings. Most financial analysts agree that in order to survive these tough economic times, maintaining health insurance coverage is crucial and should be a top ranking necessity just below the need for housing and food.

Many individuals only look at their current medical expenses to determine if they can do without health insurance and choose to take the risk that they will not need hospitalization or incur greater medical expenses. With an average hospital stay exceeding $4,000 a day, not having health insurance presents a big risk of financial catastrophe. A $50,000 emergency savings account that took years of discipline to grow would be wiped out in less than 2 weeks. Even a low cost major medical plan with a $10,000 coinsurance maximum would be a financial savior in this situation.

However, this is easier said than done. For many people that have recently lost their jobs, paying health insurance premiums becomes virtually impossible, because they are forced to pay the COBRA premiums if they wish to continue coverage under their previous group health insurance plan. COBRA premiums can be very high and impossible to afford by individuals or families without enough emergency savings. When faced with this dilemma, it is more important than ever to get professional advice in understanding your options. If you have be
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SOURCE HealthInsuranceFinders.com
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