Health Insurance, Options for Unemployed
More Americans today are dealing with the hard reality of our economy’s Struggles. Health insurance has also been a concern for those of us who have recently been laid off. For families with pre-existing conditions, losing their health insurance benefits can be even more stressful.
Cobra Health Insurance, Not so Affordable:
Although the COBRA program does provide a way to keep your health insurance coverage for up to 18 months after a layoff, rates may still increase since many employers pay for half or two thirds of the cost of their employees health insurance coverage. With recently being laid off, paying the total amount for this coverage can quickly become out of reach. The health insurance premium to stay insured may range anywhere in between $300-$600 a month, sometimes even more. To be able to cover this you either must have slipped away enough into savings to help pay for this expense or live with a spouse who still brings in a decent paycheck.
Will a Low-Income Health Insurance Program Help You?
Another route you may want to take his determining whether any low income health insurance programs in your area will work with you. Each state has a program built for families with low income. Phil Lebherz, the executive director for the nonprofit foundation for health coverage education estimates one third of the insured population qualify for government assistance health insurance coverage. If you don’t fit the criteria for government assisted health-insurance programs, you may want to request comparison quotes online to see if there is a coverage out there that an Provider can provide you at an affordable rate. There is a variety of coverage options out there. While some family plans may start at $150 only others may cost up to $500, somewhere in between you may be able to find a health insurance solution that is best fit for your family.
Always remember that a bad storm will only last so long. With a stormy night comes a fresh bright Morning.