Health Insurance Selections For The Jobless

Health & Fitness

  • Author Giacomo Palermo
  • Published August 12, 2011
  • Word count 505

The gravest thing that can occur to an employee is to lose his or her employment. Make that even more impactful if an employee loses not only the income but also coverage for health insurance.

Health insurance is costly particularly when you are not receiving it as part of a group health insurance. Worse, no matter how affordable it might be, health insurance for the jobless will always be unaffordable and in most cases, unattainable.

But don't lose optimism as there may be an opportunity even if you've been let go. The first thing to do is to ask your boss if you are entitled to health insurance for the unemployed.

The law requires employers with more than 20 workers to provide 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 insurance will be paid by your company for a short time.

Nevertheless, you have to act quickly considering you only have 60 days once you lose your employer-subsidized insurance, to register for health insurance for the unemployed and continuously receive the health benefits provided 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 options and choose the most advantageous coverage. It's possible to get affordable health insurance for the unemployed yet it gives coverage only for a huge medical occurrence. This form of health insurance does not generally cover basic healthcare needs.

If you are still undecided about receiving health insurance for the unemployed then look for short-term health insurance plans 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 insurance, you can likewise look for a medical plan specifically for quick hospital visits and planned medical check-ups.

The future of health insurance for unemployed 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 consents the purchase of health insurance previously given by the company of let go employees. The subsidy, which took effect March 2009 and ended June 1, allowed the payment of only thirty-five percent of the premium for health insurance of the unemployed, while the government covered of the rest.

After this time, unemployed people will no longer be able to avail of the COBRA and will have to face the prospect of paying the ever increasing premiums or face the risk of not having any health insurance whatsoever.

Health is wealth may be a cliché but you will begin to understand the wisdom of this phrase the minute you are ill without health insurance for the jobless. The risk of surviving in the United States with no employment and monthly pay is unfathomable. Though, the risk of catching a disease without any health insurance to support you is appalling!

Giacomo Palermo is an insurance expert who has helped and serviced individuals and residents in getting affordable, competitive health insurance benefits for unemployed workers and individual insurance plans quotes for the past 20+ years.

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