If you are recently out of work, freelancing, or working part time, chances are you don't have health benefits. That's a dangerous position to be in. Luckily, there are several options for those who don't have health insurance. Here are the top 3.
With the economy in flux, right now is an unsteady time for those looking for steady employment. If you are recently out of work, freelancing, or working part time, chances are you don't have health benefits. That's a dangerous position to be in, especially with the price of medication and treatment rising everyday. Luckily, there are several options for those who don't have health insurance. Here are the top 3:
1) The Trade Adjustment Assistance Reform Act
There's a lot of talk about outsourcing, and if you haven't lost your jobs to outsourcing, chances are, you know someone who has. The Trade Adjustment Assistance Reform Act is a way to protect individuals as our economy adjusts from local to global. If you have lost your job to do a trade policy such as outsourcing to India or increased competition from Korea, the federal TAART act may help pay 65% of the cost of your health insurance for up to a year after you have lost your job—sometimes even longer if you qualify. This even applies for products—if your business is suffering because of the influx of cheap goods from overseas, and you get laid off, TAART will still help you for the next 18-36 months.
2) Pension Benefits Guaranty Corporation
Let's say you're a retiree (55 years of age or older), and your former employer no longer provides you with a pension. This could be due to a number of things, but the most likely is that the company has simply gone out of business, and as a result, can no longer pay you the pension you were relying on to help pay for your health insurance. If you're over 65, this isn't a problem, but you're not yet old enough to pay for Medicare, what should you do? The Pension Benefits Guaranty Corporation is designed to help you. With the PBGC, your pension benefit is paid, AND you can also receive help with 65% of the cost of health insurance until you are eligible for Medicare.
3) State Government High-Risk Pool
As an unemployed or part-time employee, you are often viewed as a "high risk" by insurance companies. Luckily, many state governments offer assistance to high risk individuals, with various programs designed to help working mothers or the recently unemployed. Contact your state's Department of Insurance for more information.
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