- Heath Insurance When You Are Unemployed - What Do You Do?
- By:Dee Cohen
Being without health insurance is a very risky predicament for many who are unemployed. Most people who end up being terminated or laid off find that they have no coverage in case of sickness or death. One way a recently terminated, laid off or resigned employee can get health insurance is to continue for a period with his or her previous employer's insurance coverage. This is provided by federal regulation which was enacted in 1986 in the form of the COBRA act. This act requires that employers maintain their departed employees insurance if the employee can afford the premiums. This is ideal because the former employee's coverage is not interrupted upon departure from his or her employment. One downside to this is that the premiums are much higher being that the employer is no longer footing part of the payments.
Another way for an unemployed person to acquire health insurance is to sign under a spouse or next of kin. This is ideal where one spouse is unemployed but the other is employed. The procedure involves a simple phone call to the HR benefits department. There may be additional premiums to be deducted from the working spouse's paycheck.
If one is unemployed, he or she can get health insurance by simply comparing health insurance providers online that offers insurance to unemployed people. One can access these companies by filling out a short form and companies that will find you eligible will emergy. There are insurance companies that do not require employment as long as one has a verifiable bank account.
We have seen that as far as health insurance is concerned, all is not lost to the unemployed. One can simply continue with the COBRA coverage from the previous employer as long as he or she can keep up with the premiums, or ask a spouse to add them to their coverage or simply purchase insurance from providers that do not require employment verification. It is vital to compare the different plans to see how to save costs and still receive quality care.
Dee Cohen is a licensed social worker and runs at a blog at Health Insurance Plans Compared where you can visit and learn more about taking care of yourself at http://healthinsurancetips4u.blogspot.com/