Keeping Regular With Your Health Insurance Premiums

Health insurance is something that every individual and family needs and is something that it is very important that you keep up with. Many people get their health insurance coverage from their employer or the employer of a family member and the one true benefit of this besides the lower cost is the fact that your health insurance premiums are being deducted from your salary. This helps to ensure that your premiums are not only being paid but that they are being paid on time as well.

The current state of the economy has witnessed many companies scaling back their work force and also falling prey to the scaling back is in the area of the employer based health insurance coverage. This is really hitting hard many employees because they have to budget the extra expense of finding and securing their own health insurance. This added responsibility cannot be taken lightly because it is very important that the premium is paid when due so that there will be no lapse in the policy they have purchased.

Those who are in the process of changing jobs or who have recently become unemployed are also significantly at risk for losing their health insurance coverage. These individuals can seek out lower cost options with less coverage or they use the COBRA program to help them extend out their current health insurance benefits. Either way it is a good idea to make sure that insurance is not allowed to lapse as this not only puts you at risk of a crisis occurring that you are unable to pay for but also creates a problem if the lapse exists for too long it can lead to pre-existing condition issues.

A three month lapse in health insurance coverage could easily cause future problems for any policy holder, especially if circumstances allow them to be reinstate their health insurance. This is due to the afore mentioned pre-existing clause in the policy. Experts expect this clause to be illegal in the future, but for now it is alive and well and every lapse period is at its mercy. This clause and a lapse could cause any claim to be denied.

Keeping up with your health insurance is going to be just as important in the coming years even with the changes that are being made in the health plan being implemented by the federal government. The elimination of pre-existing condition clauses will not exclude anyone from having to maintain continual health insurance coverage so it is a good idea to get used to keeping up with your health insurance premiums in a timely manner no matter what your current situation.