Health Insurance Options For The Idle

The saddest thing that can occur to an employee is to lose his or her career. Make that especially so if an employee loses not only the pay but also coverage for health insurance. Health insurance is costly particularly when you are not getting it as part of a group health insurance. Worse, no matter how affordable it may be, health insurance for the jobless will always be out of reach and in most cases, unfeasible. But don't lose hope as there could be an opportunity even if you've been let go. The first thing to do is to ask your business if you are permitted 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 coverage though, nonetheless it could be part of your severance package which means your insurance will be paid by your company for a limited time. On the other hand, you are required to act expeditiously considering you only get 60 days once you lose your employer-subsidized insurance, to register for health insurance for the unemployed and continue to get the health benefits provided by the employer for a minimum of 18 months. If you are choosing to get individual health insurance, then look around early on to give you more time to weigh your choices and decide on the most advantageous insurance. It is possible to get low-cost health insurance for the unemployed but it provides coverage only for a severe medical occurrence. This type of health insurance does not normally cover basic healthcare needs. If you are still undecided about getting health insurance for the unemployed then opt for short-term health insurance coverage which are a lot more affordable than the big health plans but are available only for six months to a year. To lower the rate of your coverage, you can also look for a medical plan specifically for quick hospital stays and planned medical check-ups. The future of health insurance for jobless people 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 allows the buying of health insurance previously provided by the employer of laid-off workers. 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 took care of the rest. After this time, unemployed workers will no longer be able to avail of the COBRA and will have to face the prospect of paying the sky-rocketing premiums or face the risk of not having any health insurance at all. Health is wealth may be a cliché but you will begin to realize the truth to this phrase the minute you are ill without health insurance for the jobless. The risk of surviving in the United States without a job and regular income is unthinkable. Nonetheless, the chance of falling ill without any health insurance to back you up is terrible!