If you are unemployed, you both worry about the next paycheck and the health insurance. The employer health insurance will no longer cover you after losing the job. When you are not working, there many ways that you can get health coverage. You can choose to either get protection from a private insurance company or the government.
Many private companies are providing the coverage for the people who a not imployed. There are different insurance plan that you can opt for. The main benefit is that you can choose a package that will meet your budget and needs. The employer-sponsored health insurance tend to be more expensive than the one offered by the private company. The issues that are handled by the private insurance are less than the one provided by the employer-sponsored coverage. You also have a high chance of getting co-payment. it may be a challenge to get coverage if you have a preexisting condition. Otherwise the health insurance premium will be elevated. It is vital to make sure that you shop adequately to avoid the being overcharge.
You should consider the short term health plan if you are sure that the transition between one job to another. The plan is usually suitable for the people who have less medical issues. The coverage will cost you less money. It will not cover those people who have a preexisting condition. The program will last for only one year. You are allowed to renew the policy for a maximum of two times. The provision of the short term health insurance, varies from one state to another.
If you recently lost your job; you should consider keeping the employer health coverage. The COBRA health insurance will ensure that you are going to get the same coverage that you are used to. The program is very suitable for the preexisting condition. You must be working in a company that has a minimum of 20 employees to quality.
You are also required to apply for the program with a span of 60 days. You will have to pay more money. The employer will provide half while you will have to provide half. The COBRA health insurance allows you to pay the full amount. The service provider will charge you less administration fee of about 2%.
The government coverage is another option that you have. If you earn a modest income, you should investigate to find out if you qualify for the government health coverage. The criteria for qualification differs from one state to another. For example, some states will only provide coverage to only those people who used to earn twice the country’s poverty level income. If you have a pressing condition, then the state will classify you as a high-risk individual. The coverage will be more expensive than average.