Avoid an Insurance Gap
To remain “insurable” you must not let your insurance lapse. If this happens insurance companies may not insure you for what they call pre-existing conditions. If you are working and are laid off you do not have to worry about pre-existing conditions unless you take a long time off between jobs. You can not have a break in coverage of more than 63 days as after this time your new employer's insurance plan can start you with new pre-existing conditions.
If you are married and your spouse has insurance, you typically have 30 days from the time of unemployment to be added to his or her plan, even if it's not the open-enrollment period.
If you take out your own insurance either after the COBRA period expires or in place of using COBRA to keep your employer plan in force be aware that these plans generally are not as comprehensive as your employer's coverage; that's why they are less expensive. As a general rule your deductible will be higher as well.
If you're young and healthy, a bare-bones policy may work but older workers generally will find this kind of policy insufficient for their needs. You should seek short-term coverage in any case just in case you have some kind of an accident. These policies are not very comprehensive but will protect you against anything catastrophic. To find a short-term policy go to www.ehealthinsurance.com.
Lastly, if you can't afford COBRA or an individual policy, you may be eligible for Medicaid, a federally funded state health insurance plan. To qualify, your income must not exceed a limit set by your state, usually a percentage of the federal poverty level. You can find details on how your state determines your participation in Medicaid by going to www.StateHealthFacts.org.
For more information click COBRA Information
If you are married and your spouse has insurance, you typically have 30 days from the time of unemployment to be added to his or her plan, even if it's not the open-enrollment period.
If you take out your own insurance either after the COBRA period expires or in place of using COBRA to keep your employer plan in force be aware that these plans generally are not as comprehensive as your employer's coverage; that's why they are less expensive. As a general rule your deductible will be higher as well.
If you're young and healthy, a bare-bones policy may work but older workers generally will find this kind of policy insufficient for their needs. You should seek short-term coverage in any case just in case you have some kind of an accident. These policies are not very comprehensive but will protect you against anything catastrophic. To find a short-term policy go to www.ehealthinsurance.com.
Lastly, if you can't afford COBRA or an individual policy, you may be eligible for Medicaid, a federally funded state health insurance plan. To qualify, your income must not exceed a limit set by your state, usually a percentage of the federal poverty level. You can find details on how your state determines your participation in Medicaid by going to www.StateHealthFacts.org.
For more information click COBRA Information
Medicare Open Enrollment Ends Soon (December 7)
Medicare Supplemental Insurance extends coverage over healthcare costs that Medicare doesn’t cover. Different plans offer different amounts of coverage and the costs can vary substantially. Click here to find the best plan to fit your needs and get an actual quote.
Click here to find the best plan to fit your needs and get an actual quote.
Click here to find the best plan to fit your needs and get an actual quote.