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Short term health insurance is a great product for those transition periods between employers. The policy offers options for the number of months you want coverage and some allow a one-time renewal without qualifying health questions. This feature is important, so read each application carefully.

Today, no one can afford to go without health coverage. When you consider that a week in intensive care can run upward of $250,000, a major accident or illness can destroy your entire financial future. Even less catastrophic health problems can set you back for years. Health insurance is the only affordable way to handle most medical problems. If you develop a major medical problem when you don't have coverage, insurance companies can deny or postpone future coverage due to pre-existing conditions. In other words, you don't want to go even for one millisecond if you have a pre-existing condition, since with continuous coverage with no lapse in coverage, the pre-existing condition has no bearing on your situation, but if you had even a momentary lapse in coverage can make your pre-existing condition a coverage issue.

When you leave a job, you get the option for coverage under COBRA. These plans are often quite expensive but very worthwhile if you have pre-existing health conditions. If you and your family are healthy, then a short-term policy could mean hundreds of dollars of savings for you when you compare the rates to COBRA. If you have pre-existing conditions, you may not be able to get coverage. What if your children are healthy and you aren't? Then cover the children with short-term health insurance and carry COBRA coverage for yourself. This savings can still be substantial.

HIPPA guarantees that you have the right to buy coverage and are exempt from the pre-existing conditions exclusion if you follow a few steps. You must have had 18 months of continuous coverage under a group plan, use up any COBRA, not be eligible for Medicare or Medicaid and apply within 63 days of losing your previous coverage. Finding good health coverage in that period is imperative to those whose health is less than perfect.

If your need is just between jobs, between college and your first job, after retirement but not quite at Medicare, or while you wait for your new employer's plan to start, then short-term health insurance may be just what you need. The premiums are frequently a lot less expensive than the traditional health care plan and coverage is almost immediate in most cases.

If you determine that you have a need that is longer than short-term health policies cover, consider a plan with a health care savings account and a higher deductible. This type of plan is particularly good for those that seldom go to the doctor. As the savings plan grows, you increase your deductible, and therefore shrink you premium payment even further. Don't forget to sign up for a short-term health policy while you wait for the company to accept you for coverage. No one can afford to go even one day without some form of health insurance.

For more insights and additional information about Short Term Health Insurance as well as getting a free no-obligation online health insurance quote, please visit our web site at http://www.healthinsurancetipsguide.com

How high up the insurance companies were rated, seems to make little difference. Sometimes the downturns happened so rapidly that the rating companies did not have time to react. Many of the original agents that wrote the policies with that Insurance Company were no longer there. So who is going to notify the policy holders? Certainly not the insurance companies. Of these companies starting to sink, it includes some established over 100 years ago. Others have only been formed a few years back. As market changes affect profitability, there are companies too sunk in tradition to quickly change or eliminate the sale of certain products. Additional insurers are too quick to test the hot markets where profitability and stability of new style insurance coverage is not yet proven.

During the past 20 years all types of Insurance Companies experienced difficulties in paying out claims. Frequently the problem erupts when claims pour in quicker than new premiums arrive and built up reserves are too low to handle claims received.. Intentionally, there are companies offering policies at dangerously low prices. This purposely makes it more difficult for their competitors to attract new clients. The practice is also know as buying customers, As a result the growth rate could be too fast. Also the amount of future claims is not properly calculated. Then when claims started to rise, the premiums are still set too low to offset incoming claim obligations and policy reserves have not had sufficient time to build up.

The insurance industry was hardest hit by the property and casualty insurance companies. These make up a high percentage of the companies liquidated during the past 20 years. Often high rated companies selling homeowner policies were hit almost overnight by weather devastation. Entire zip codes, metropolitan areas, and states were declared disaster areas. Claim reserves were quickly depleted, along with the future of the insurance company. Just look at the amount of harm Hurricane Katrina's rage put on people and their insurance companies. Only a few years earlier Hurricane Andrew left its mark on Florida.

The sales manner in which the insurance policies were sold does not one single out one particular method.. The troubled companies can not be pinpointed to distribution of its insurance products. There is a wide variety of different ways in which policies were sold. Some were only available directly from the home office. In other cases the home office used direct mail to solicit new business. There were insurance companies that had a base of captive agents to sell and distribute their policies. In different circumstances the policies were sold by independent agents and brokers. Other companies used a large combination of distribution channels.

When insurance company liquidation comes there are many efforts first made to save the insurance company. An insurance company can not even apply to go into bankruptcy. Insurance regulation is done at the state level, with no federal government intervention provided. This means that one state has different consumer protection amounts built in, than another will have. Also certain states step in quicker when they spot a company violating sales practices or operating in a financial insecure manner.

The first step is commonly to issue a state order for the insurance company to suspend writing any new insurance. Upon further inspection, the state insurance department may issue a rehabilitation order. This means the insurance company is still in business but now with the insurance commissioner as rehabilitor, the power changes. The insurance commission manages the company until the financial conditions can be properly corrected. If not, an order for the liquidation of insurance company starts. It begins with collecting as much of the company's remaining assets as possible. It is not uncommon for the liquidation process to range from 5 years to 9 years.

More on how the consumer is protected and how much will be recovered will be handled is in an upcoming report. A big hint, HMO - health maintenance organizations, and PPO's - preferred provider organizations ARE NOT covered by state guaranty payments.

Well published author, Don Yerke likes to concentrate on what you don't know or what no one else dares to print. Tell it like it is. The website address is http://www.agentsinsurancemarketing.com - Check out over 100 captivating and stimulating articles.