Unemployment health insurance plan availability varies from state to state. Some last for as long as 365 days and some only as long as 30 days. In some states, your health insurance will follow you for a short time while you are unemployed. Continuing your insurance coverage can be costly, depending on how you go about it. It is best to find out your options as soon as you can after you know you will be unemployed. Check the costs and complete any needed paperwork.
Having health coverage is important even while you are unemployed. This may be a time when finances are short. Insurance may not seem to be a priority, but if a major medical event happened it could ruin you financially for years to come.
COBRA benefits in some states are a very reasonable way to retain health coverage while unemployed. These benefits will cover any major medical occurrence. You must apply for these benefits within a short and specific time frame following layoff or you lose your eligibility. Knowing what is available and what your options are is very important.
The stress of being unemployed can negatively affect your health, so it is a critical time to maintain health coverage. You shouldn’t let friends, neighbors or your ex-employer make the decision of what is in your best interest. You decide what you and your family need.
A temporary insurance plan may be a good way to keep you and your family insured during a time of unemployment. This is usually a lower cost method to buy insurance. It helps maintain the continuity of insurance coverage which may help if there is ever an issue of pre-existing conditions.
There is are unemployment health insurance plans available. You should do your research to find out what the state laws are and what your old employer has to offer. You should also consider checking the information on independent insurance agents.