Are You Losing Your Health Insurance When You Lose Your Job?
Unemployment figures are still alarming, and to add more pain to the loss of income, many people are losing their group medical benefits too. Some, but not all, of these employees may have rights to a COBRA extension while they are unemployed. But COBRA just means that ex-employees have a right to extend their health insurance, it does not mean they get group benefits for free! Many laid off employees find they cannot afford the price tag of the COBRA group benefits extension, and they need COBRA health insurance alternatives.
More Info: COBRA Health Insurance Alternatives
Individual Health Insurance Plans may be an option. For younger and fairly healthy people, private insurers can offer affordable major medical plans. Since these plans are tied to the covered people, and not to a particular job, they can be an attractive option in an unstable job market. You can keep them while looking for a job, or you can keep them for decades if you decide to do contract work, start a business, or take a job without a group medical plan.
If You Cannot Qualify for Private Health Insurance
If you cannot qualify for an individual health plan, the state, federal and county governments may provide a safety net. Some counties run very good health plans for people with low to moderate incomes. The state should have a high risk plan or pool for those with pre-existing conditions that get them declined for health insurance by private companies. The federal government is behind CHIPS (children’s health insurance for low to moderate incomes) and Medicaid (for low income people). Some states may also run health insurance programs for adults with a moderate income that is not low enough to qualify for Medicaid. The income guidelines for children to qualify for CHIPS will be more relaxed than the guidelines for adults to qualify for Medicaid.
Get More Information: Unemployment Health Insurance
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