How Soon Can I Start To Use Health Insurance When I Buy It?
If you have been without health insurance for some time, you might be eagerly looking forward to using your new benefits. You might need a yearly check-up. You might just want to start getting your prescriptions at a discounted price. However, depending on your employer, you might need to wait for a period of time before you are allowed to use your employee health benefits.
Your Health Insurance Waiting Period Explained
The insurance company does not set waiting periods. These are set by your employer. If you buy a plan for yourself and not through your employer, you can use your benefits immediately. Waiting periods set by employers vary and can be as short as thirty days or as long as six months or even longer. The logic behind waiting periods is that when you are on a group insurance plan, you are a liability to your employer. If you only stay on staff for a few weeks, they are taking on that financial risk for a short term employee. Some employers just want to see if you will work out before subsidizing your health care costs.
Dealing With A Health Insurance Waiting Period
Waiting for insurance benefits can be tough. If you are faced with a long wait period before your benefits become effective, consider supplemental insurance. You might be able to buy a short term basic policy for a month or two. If you are in the job market, ask your employer before you begin about your health benefits package. Get details. Ask about things like waiting periods. If you have to choose between two positions, knowing the details of your health plan options can help you make the right choice.
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- How Does Long Term Health Care Insurance Work?
- How To Buy Group Health Insurance?
- Who Offers the Best Health Insurance?
Tags: health insurance, health insurance waiting period, healthcare insurance, medical insurance