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Health Insurance For Unemployed People
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People who have jobs with employee benefits never had to consider how to find health insurance for unemployed people. When they lose their jobs they find it’s not that easy to find health insurance with good coverage that they can afford.

What are the choices of health insurance for unemployed people? There are a few. If you’ve resigned or been laid off within the last 60 days, you could be eligible for COBRA. What this means is you will keep the insurance you had while you were working, same benefits, same everything, with one exception. Previously your employer paid a portion of the premium the insurance company charged. Now it’s all on your shoulders, coming out of your wallet. So don’t be surprised to find that whatever was taken out of your paycheck for health insurance wasn’t the whole amount that was paid. The amount due each month could double or triple from what you were paying, depending on how much your employer was kicking in.

The advantage to COBRA is that you do keep the same benefits, coverage, and doctors. The downside is obviously the price. The best thing is to sign up for COBRA so you have no gaps in your coverage. If you are reasonable certain that you’ll have a new job within a few months, then COBRA may be the way to go. If, however, you begin the think your job search could last for many months, you need to consider some alternatives.

Another option of health insurance for unemployed people is short term insurance. By shopping around, you should be able to find something that is cheaper than COBRA. So even if you don’t think your job search will last too many months, this is one way you can save a little money.

Short term insurance is also a good option if you have just graduated from college or technical school and haven’t found a job yet. While short term insurance is a little more expensive than regular plans and won’t provide as extensive coverage, it is worth considering. At least you’ll have insurance if you suddenly have some major health expensive, as would happen if you were in an accident.

If it’s looking like you’ll be unemployed for awhile, then it is definitely worth your while to do some comparison shopping and find a private insurance plan. By cutting back some on coverage, you might be able to find something that is cheaper than either COBRA or short term insurance.

Some states offer a form of health insurance for unemployed individuals, so that is another alternative you could look into. But don’t just jump at this option without checking out others. Many of these state plans are just as expensive as private insurance, so don’t skimp on shopping around.

Often the most painful thing for anyone looking for health insurance for unemployed people is adjusting their mindset. Previously, health insurance was something the employer helped to pay for. Now that there is no paycheck, there’s also no health insurance. And the cost of the health insurance seems like it’s too much to pay. So take a look at your budget, and see if there’s anything that could be cut out so that you have the health insurance you need. Review all the options for health insurance for unemployed people that you can find before you buy anything, and make sure you’ve gotten several quotes so you know you are getting the best deal that you can possibly find.


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