Health Insurance for Unemployed

Unfortunately, most people have health insurance through their employers. While this is fantastic when you're working, there are times when you might get let go. Whether it's because you were fired, or because the company downsized, it doesn't make much of a difference when it comes to the loss of that particular benefit. There are, however, several programs available to help the unemployed out with health insurance for unemployed.

Options to Help You Get Health Insurance for Unemployed

When you're employed, it's possible that you had to pay out a certain amount to help pay for the cost of your health insurance for unemployed.
There could be hope yet, though, under the Consolidated Omnibus Budget Reconciliation Act (COBRA) which was passed by Congress in 1986. Under this act, the government provided the possibility for unemployed persons, whether their position was terminated voluntarily or involuntarily or if your hours were reduced far enough for the company to cut your health benefits, to keep the group health plan you enjoyed at your job at the same rates. Under the act, the affected employees spouse and dependent children who were covered by the policy continue to be covered.

The downside to COBRA is that, without the employer or former employer paying the greater portion of the policy is that the unemployed person would then have to pay the full premiums. This isn't always affordable. President Obama signed an economic stimulus package shortly after he came into office to help those who fell under the umbrella of COBRA. Anyone who became unemployed from September 1, 2008 - December 31, 2009 can take advantage of COBRA and only pay 35% of the full premiums for up to 9 months. The unemployed person will receive notice from their former employer advising them they are eligible for COBRA and this will come with information on how to take advantage of the subsidy.

Even with the reduced premiums available to some under the new COBRA rules, there are still some people that will not be able to afford the premiums. When this occurs, it's time to take advantage of government programs, insurance company programs, and private corporation programs. If you need to take a certain prescription medication, you can even directly contact the manufacturer to see if they can help you get into contact with these agencies - they may even have an option of their own to help you out. If you need to, contact the department of insurance for your state. They will have most information to help you get started readily available.

COBRA, policy conversion, and state insurance continuation will not help the unemployed person with their health insurance for unemployed if their former employer didn't provide them with any in the first place. Check out your eligibility in this case for Medicaid, Medicare, and state-sponsored health care options. If you have some money to spend on insurance, then contact the state's insurance department to ask them about health insurance for unemployed options that are more affordable.


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