Can You Keep Your Health Insurance When You Lose Your Job?
Of course, periods of unemployment can cause a lot of stress for families. Along with the loss of an income comes the loss of job related benefits. One of the most important of these benefits is, of course, health insurance. If you aren concerned about losing your job, or have already lost it, look into your options for unemployment health insurance as soon as you can.
COBRA Health Insurance Extensions
Some employers need to extend health benefits under COBRA laws. Not all employers are under this law, though. If you are entitled to an extension of your group health plan, you may be surprised by the price tag! Most employers pay part of the premium for active employees, but terminated employees will usually have to pay the whole amount. If you do not have an extension, or just cannot afford it, consider some COBRA health insurance alternatives.
You may qualify for private insurance, and if the plans work for you, they can actually be much cheaper. Make sure they have all the coverage you need. It is hard, for instance, to find comprehensive maternity coverage on the individual market. Also make sure you qualify for an individual plan, because private health insurers do not have to accept everybody.
If you have a low income and few assets, look at government health plans too. Federal, state, and county health programs can provide health plans for people while they are unemployed. Medicaid, CHIPS (for kids), and county hospital programs are some examples of this.
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I am sure that this article will really interest a lot of people right now. We hear a lot about people losing their jobs, but health insurance is also a big problem in the US. It looks like the problem will get a lot bigger too.