Wednesday, April 22, 2009

Health Insurance in Economy Crisis

post by Mei Ling Lin

In the economic recession, people may lose some things, such as their jobs, income, or health insurance. McKinley Health Center doctors said that, the amount of students without health insurance is increasing. The reasons why increase in students without health insurance are students want to reduce the expense and choose to option out of University’s student insurance plan, or student who were covered by their parent’s plan, but their parents’ job situation changed and lost the coverage. What can we do if we lose the health insurance in a short-term?

First, you can be proactive to minimize the effects of the economic crisis. Second, short-term health insurance is available in most states to span from 1 to 36 months, and its cost is about half of the amount of longer term policies. Third, you should develop a realistic budget, because the cost of health insurance is increase faster than your income. Fourth, you should consider the worst case, even you don’t like to think or never think it would happen, it is smart to consider the effects of the worst case in your health care planning. If you need to cut your health insurance costs, think about use shorter duration policy, increase out-of-pocket costs, or reduce maximum benefits.

source #1 #2 #3

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