The saddest event that can happen to an employee is to lose his or her career. Make that even more impactful if a worker loses not only the pay but also coverage for health insurance.
Health insurance is costly notably when you are not getting it as part of a group health insurance. Worse, no matter how affordable it might be, insurance for the unemployed will always be unaffordable and in most cases, unfeasible.
But don't lose hope as there might be an opportunity even if you've been fired. The first thing to do is to ask your boss if you are permitted to health insurance for the unemployed.
The law requires businesses with more than 20 employees to provide health insurance for the unemployed for a period of 18 months. This is not free insurance though, however it could be part of your severance package which means your coverage will be paid by your company for a small amount time.
However, you need to act expeditiously because you only have sixty days once you lose your employer-subsidized insurance, to enroll for health insurance for the unemployed and continue to get the health benefits allowed by the company for a minimum of 18 months.
If you are hoping to get individual health insurance, then look around early on to give you more opportunity to weigh your options and decide on the best coverage. It is possible to get cheap insurance for the unemployed but it gives coverage only for a severe medical occurrence. This style of insurance does not normally cover basic healthcare needs.
If you are still undecided about receiving insurance for the unemployed then choose for short-term insurance plans which are a lot cheaper than the big health plans but are available only for six months to a year. To lower the rate of your plan, you can also choose for a medical plan specifically for quick hospital stays and routine medical check-ups.
The future of insurance for unemployed people is grim with the end of the subsidy provided by the government for COBRA or the Consolidated Omnibus Budget Reconciliation Act, a federal law which grants the purchase of health insurance previously provided by the employer of laid-off workers. The subsidy, which took effect March 2009 and finished, allowed the payment of only 35 percent of the premium for insurance of the unemployed, while the government covered of the rest.
Following this period, jobless employees 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 face the chance of not having any insurance at all.
Health is wealth may be a cliché but you will start to see the truth to this motto the minute you are ill without insurance for the unemployed. The chance of living in the US sans a job and regular pay is unthinkable. Nonetheless, the chance of catching a disease without any insurance to back you up is terrible!
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