Even though the “Great Recession” is technically over, the US unemployment rate continues to hover around 9%. That’s a lot of people, and it doesn’t even cover those who are under-employed (employed part time), those who have gone back to school in the face of poor job prospects or those who have stopped looking for work.
Though many of the unemployed are forced to cut extra expenses from their household budgets, health insurance should not be one of them. Health insurance is critical for all adults (even if you think you’re perfectly healthy), but it can mean the difference between a tight budget and bankruptcy for the unemployed.
Most of those who are fully employed have a savings structure in place. They have investments, emergency spending accounts and even their 401k they can dip into if a large expense comes along. Many of the unemployed are already using these resources just to meet basic needs. If a sudden health issue arises and health insurance isn’t around to pick up a majority of the cost, an unemployed person may not be able to cover the expense.
For instance, even a routine surgery or a broken bone can end up costing thousands of dollars in medical expenses. Now, consider what the cost would be if you were in a major car accident and required an extended hospital stay, or if you developed cancer and needed multiple radiation treatments and specialist visits. Would you be able to pay hundreds of thousands of dollars without health insurance?
Affordable health insurance is still available for the unemployed. You may consider cutting back on some of the cushy benefits of your previous work policy, but even basic health coverage will at least keep you protected in the event of an emergency medical situation. Individual Cobra or HIPAA enrollees should consider at a minimum shopping for coverage if they can qualify for standard coverage rather than pay normally a higher premium.
Compare Health Insurance can help the unemployed find affordable health insurance that meets their medical needs. We have access to many different health insurance policies and can help you determine exactly what type of coverage you need based on your budget and current health situation.
Being unemployed is a very difficult situation, but it’s no excuse to put yourself at risk, both financially and physically, by skimping on health insurance. San Diego Health insurance for the unemployed is readily available, and Compare Carriers can help you find the best policy for you.
