Hyde Insurance Group Blog |
Most people purchase health insurance with the idea that they can receive discounts for hospitalization or free medical checkups. The insurance policy is also a big help for hospital bills for policyholders that require constant medical attention. However, a person can experience a life-changing event that will be too much for medical insurance to cover. Luckily, a life-changing event can make you eligible to change your insurance plan outside of the Open Enrollment Period. You may choose or adjust your plan to what suits your needs. Here are some of the cases where health insurance can save you from a life-changing event. Adjusting to Loss of Income
Getting laid off can mean that you lose your job-based medical policy. But, you can still continue your health insurance. Many employers comply with COBRA or Consolidated Omnibus Budget Consolidation Act. When employment separation occurs, you can pay for the premium your company covers for you. In this way, you’re able to continue your policy. You would have to pay for your premium as well as the cost your employer was paying. It can be more expensive. But your trusted insurance provider can tailor a plan for your needs. More so, you can do it with the same carrier which can be more affordable for you. Protecting You from a Loss of Shared Insurance Divorces or death of a spouse can lead to dramatic changes inside your household. The health insurance policy you share with your partner is a part of that. Insurance companies may let you change your shared policy to an individual account and a lower premium. You will be able to continue your insurance plan without thinking about paying for the estranged or lost family member. Health insurance may help you survive a life-changing event, but you can also count on it during regular days. However, it is better to purchase an individual health insurance plan before going through dramatic changes in life. At Hyde Insurance Group, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (888) 345-1215 or Click Here to request a free quote.
2 Comments
It got me when you said that a life-changing event can give you the option to change the insurance plan outside your open enrollment period. I will keep that in mind in case I would need it, since I plan to get myself covered with a policy that could help me with my health. I just need something that I can rely on now that I am getting older, since I might develop illnesses or diseases along the way.
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3/29/2022 02:46:28 am
Your blogs are very useful and provide lots of information. I have received lots of help to read this blog post, please continue to share this kind of information. Thank you.
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