by Thomas Milkman

The economic crisis is making it hard for everyone to earn a decent living. During the last year, millions of Americans lost their jobs because of the recession. But aside from the emotional and financial consequence of losing a steady paycheck, there are other concerns you need to deal with as well. One of the issues that a lot of laid-off employees are concerned about is their health care.

An employer effectively stops paying for the employee’s health care on the last day of the month when employment ended. It is critical for a person to look for health insurance while he is in-between jobs. This is because even if he finds employment immediately, his health coverage will only restart after 30 days of employment on the first day of the next month.

There is at least a two-month gap that should be filled. In addition, a person can be considered lucky if he is able to find work immediately. Today’s tough economic times have effectively halted hiring in a lot of industries. Below are some alternatives a laid-off employee can look into:

Short Term Medical Insurance – this health insurance plan can range from a single month to three years. It has been specifically designed to fill the gap from one plan to another. This insurance is inexpensive but it does not cover the cost of treating existing medical problems. Another drawback is that it also cannot cover serious long-term illnesses and pregnancy. But those with predictable expenses such as prescription and outpatient therapy should consider this insurance.

COBRA – if you worked for a company with 20+ employees, you are allowed to keep your health insurance for up to 18 months at your own expense. Because of its high monthly premium, a lot of people avoid this option unless they have an existing condition that requires ongoing medical care.

Individual Conversion – this has the same results with the COBRA option but it is designed for the employees of smaller enterprises. Individual conversion allows employees to convert their program from a group plan to an individual plan without the need to provide eligibility requirements.

These three options allow employees who had been laid-off to enjoy medical benefits until their next employment.

You probably have health insurance in Australia, right? So, shouldn’t you make sure that your health and emergency medical costs are also covered when you travel abroad? Travel health insurance covers your medical costs when you travel overseas. Your Australian health cover and Medicare are unlikely to cover you for overseas travel and medical costs overseas can be a lot higher than those you are used to in Australia.

Even if you don’t have regular health insurance at home, you should consider travellers’ insurance to cover you for a medical emergency or accident. The reality is that even normally healthy people often get sick or even worse on holiday. Ever noticed how as soon as the pressure comes off and you get to relax, you come down with the flu or worse? Overseas holidays for Australians generally start with a reasonably long flight. Flying is a great way to pick up a disease before you even reach the resort’s poolside bar!

Having arrived at your holiday destination, there is, of course, the usual risks of a climate you are not used to and local food - again, food poisoning is not just a cliché; it can result in a serious medical emergency if you get unlucky.

Often, your average holidaymaker gets into trouble when they go from a sedentary office job in real life to deep sea diving or skiing on holiday. It seems that we all feel invincible on holiday, and in some cases, the joy of the moment overcomes common sense safety precautions. Or our unfit body is just not up to our athletic ideals!

Plus, things do sometimes work differently overseas; for instance, how many tourists have ended up in the hospital because they forget, just for a minute, that they are driving on the wrong side of the road? It’s particularly easy to forget if you hire a scooter, as is commonly done in the Pacific and some Asian countries. Scooters don’t have an offset steering wheel to remind you that you should be keeping right on the road!

Travel health insurance can help if the worst happens while you are overseas. For most people, it won’t happen, but just because you have never had an accident or a serious illness at home doesn’t mean it can’t happen to you at some point. You should not assume that it can’t happen to you on holiday – unfortunately, it can. Being ill or injured on holiday is bad enough, but you don’t want to return home to a lifetime of debt to pay off the bills!

A good travel health insurance policy is a small price to pay for peace of mind. It will cover you not just for serious medical assistance, but also for English-speaking assistance if you need advice for a condition that is worrisome. Is it a bad cold or malaria? If the worst happens, it will pay for the MediVac home too. If that skiing accident resulted in a broken leg - you may need a first-class seat to get home - travel insurance will normally pay for that too.

Travelling is great fun generally, but sometimes, it’s a bit tough on your health. That’s why travel health insurance is a must have for your packing list.

With the effect of Globalization around the world our economy has increased in all the sectors. And now the individuals are more concerned about their health. In current market scenario, there are many players in the market which deals in Insurance and also offer profiles of a range of health insurance plans. Each plan has its own unique feature and has a different policy & the plans that give you the best advantage are more expensive & also their premium rates are higher.

Health Insurance 101

It can be scary to get sick, with the doctor's visits, medication and the feeling that you don't quite know exactly what is going on.

However, possibly more frightening than that is going through all that without the safety net of health insurance to lighten the amount of medical costs you will incur through inevitable treatment and care.

There are roughly 46 million people in the U.S. currently living with no health insurance, and while the government is working on a way to reform the healthcare industry, a new kind of healthcare plan may still be a couple of years away.

For the uninitiated, this may be a good time to get familiar with the basics of healthcare because aside from some its confusing aspects, it's more important to live with health insurance than live without it.

Do I even need healthcare insurance?

Without health insurance, a person or family may be forced to incur the full costs of their doctor's visits and hospitalizations, which can quickly accumulate to a small fortune. Also, it isn't enough to just get treatment when you are sick. Preventative care is another important element of healthcare and could save on costs in the future.

Getting regular checkups and physicals with a doctor within your healthcare network can ensure that you are keeping an eye on your body and maintain optimal health.

Finally, people who are under a health insurance plan will pay less for doctor's visits and hospitalizations when compared to people who are not enrolled in a plan. And given the current state of the economy, isn't the name of the game being fiscally responsible?

But how does this system work?

In a typical healthcare plan, which is called a fee-to-service plan, an enrollee pays a monthly premium (which is like a monthly subscription for a certain service) and when the patient has to visit a doctor or a hospital, the health insurance provider pays a portion of the bill.

The customer pays a lower portion of the bill for the healthcare service, called a co-pay. This may include routine medical visits, visits to the emergency room and dental checkups. Without health insurance, a routine physical can cost as much as $200. With coverage? $20.

Which plan is for me?

Good question and it's one that only you can answer since there's a lot of different factors that go into choosing a healthcare plan.

One thing to keep in mind is a term called "pre-existing conditions." If you had a known illness or injury prior to you signing up for healthcare, it may affect your coverage. Some plans only consider a condition pre-existing if treatment was involved. Other plans may have a wider definition.

After that, it's important to determine what exactly you need from a healthcare plan. Older people may want coverage that includes surgeries and prescription medication while younger people may be more inclined to embrace a plan that's more about preventative care.

Another element to factor in is whether or not you have a certain doctor you are comfortable with or a family doctor who knows your medical history well. Some healthcare plans have specific networks that only allow you to visit certain doctors, while others allow you to see whoever you choose.

The co-pay may be a bit higher for the out-of-network physician, but if it's with someone you trust, it may be worth it.

If you are between jobs and waiting for the start of your coverage from another health insurance, or if you are on strike or laid off, or if you are a seasonal employee or recent college graduate and your need is for only a specific period of time, short term health insurance may be a great option for you.

Who has these plans?

Most people in the U.S. get their healthcare insurance through the company they work for, which most likely has a relationship with a certain healthcare insurance provider.

However, some people like to investigate the kind of coverage a different provider has or may want to have health insurance that isn't tied to their job, in case they leave that company or get laid off.

In that case, some people have employed a health insurance agent to help them determine which public healthcare plan might be best for them.

Staying with the same healthcare plan may also help people avoid experiencing gaps in coverage if they lose their job. Gaps in coverage can be a potentially dangerous situation because you will be solely responsible for any medical bills.