Health Insurance Options For The Unwaged
The gravest event that can happen to an employee is to lose his or her employment. Make that a double whammy if an employee loses not only the income but also coverage for health insurance.
Insurance is expensive specifically when you are not receiving it as part of a group health insurance. Worse, no matter how affordable it may be, health coverage for the unemployed will always be unaffordable and in most cases, unattainable.
But don't lose confidence as there might be an opportunity even if you've been downsized. The first thing to do is to ask your company if you are permitted to insurance for the unemployed.
The law requires companies with more than 20 workers to offer health insurance for the unemployed for a period of 18 months. This is not free insurance though, but it could be part of your severance package which means your coverage will be paid by your company for a small amount time.
Nonetheless, you have to act expeditiously since you only have sixty days once you lose your employer-subsidized insurance, to enroll for health insurance for the unemployed and continue to receive the health benefits given by the company for a minimum of eighteen months.
If you're choosing to get individual health insurance, then do your shopping early on to give you more opportunity to weigh your choices and decide on the best coverage. It is possible to get low-cost insurance for the unemployed however it gives coverage only for a severe medical event. This form of health insurance does not usually cover basic healthcare needs.
If you are still undecided about paying for health insurance for the unemployed then look for short-term insurance coverage which are much more affordable than the major health plans but are available only for six months to a year. To lower the rate of your coverage, you can likewise choose for a medical plan specifically for short hospital stays and normal medical check-ups.
The future of health insurance for jobless workers is shoddy with the end of the subsidy provided by the government for COBRA or the Consolidated Omnibus Budget Reconciliation Act, a federal law which allows the purchase of insurance previously provided by the business of downsized employees. The subsidy, which took effect March 2009 and finished, allowed the payment of only 35 percent of the premium for health insurance of the unemployed, while the government covered of the rest.
Following this time, unemployed people will no longer be able to avail of the COBRA and will have to face the prospect of paying the more and more expensive premiums or encounter the risk of not having any health insurance whatsoever.
Health is wealth may be a clich© but you will start to realize the truth to this phrase the moment you are sick without insurance for the unemployed. The risk of surviving in the United States with no a job and monthly pay is unthinkable. Nevertheless, the chance of falling ill without any health coverage to support you is catastrophic!
Insurance is expensive specifically when you are not receiving it as part of a group health insurance. Worse, no matter how affordable it may be, health coverage for the unemployed will always be unaffordable and in most cases, unattainable.
But don't lose confidence as there might be an opportunity even if you've been downsized. The first thing to do is to ask your company if you are permitted to insurance for the unemployed.
The law requires companies with more than 20 workers to offer health insurance for the unemployed for a period of 18 months. This is not free insurance though, but it could be part of your severance package which means your coverage will be paid by your company for a small amount time.
Nonetheless, you have to act expeditiously since you only have sixty days once you lose your employer-subsidized insurance, to enroll for health insurance for the unemployed and continue to receive the health benefits given by the company for a minimum of eighteen months.
If you're choosing to get individual health insurance, then do your shopping early on to give you more opportunity to weigh your choices and decide on the best coverage. It is possible to get low-cost insurance for the unemployed however it gives coverage only for a severe medical event. This form of health insurance does not usually cover basic healthcare needs.
If you are still undecided about paying for health insurance for the unemployed then look for short-term insurance coverage which are much more affordable than the major health plans but are available only for six months to a year. To lower the rate of your coverage, you can likewise choose for a medical plan specifically for short hospital stays and normal medical check-ups.
The future of health insurance for jobless workers is shoddy with the end of the subsidy provided by the government for COBRA or the Consolidated Omnibus Budget Reconciliation Act, a federal law which allows the purchase of insurance previously provided by the business of downsized employees. The subsidy, which took effect March 2009 and finished, allowed the payment of only 35 percent of the premium for health insurance of the unemployed, while the government covered of the rest.
Following this time, unemployed people will no longer be able to avail of the COBRA and will have to face the prospect of paying the more and more expensive premiums or encounter the risk of not having any health insurance whatsoever.
Health is wealth may be a clich© but you will start to realize the truth to this phrase the moment you are sick without insurance for the unemployed. The risk of surviving in the United States with no a job and monthly pay is unthinkable. Nevertheless, the chance of falling ill without any health coverage to support you is catastrophic!
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