In 2014, it was decided that individual healthcare providers will no longer be able to refuse coverage or charge higher premiums due to pre-existing conditions. Individual health insurance plans are plans that are bought by the individual for themselves and/or for their family.
Short term health insurance is designed for those who need coverage for a limited period of time. The plans are also more simplistic than other long term plans which tend to be more comprehensive. They are designed to protect unforeseen incidents, and don’t include preventative care, vision, or physicals. Typically the plans last for 6 months, but can last up to 11 months.
Federal COBRA, Consolidated Omnibus Budget Reconciliation Act, is a U.S law that gives workers and their families the option to continue the group health benefits provided by their health insurer in the case it was lost. This could be due to a loss of job, reduction of hours worked, death, divorce and other life events. COBRA will allow you to keep the plan for at least 18 months, although it’s still required you pay the premium.
Business insurance is designed to protect businesses from liability due to events that may occur during a typical business day. There are many different types of insurance due to what the company might specialize in. These can include, but aren’t limited to: property damage, employee-related risk, and legal liability. Of course, different companies need to be evaluated depending on how much risk they are exposed to depending on the company environment.