We all are worried about the recent direction the U.S. economy has taken. Now not only do you have to worry about your job security but also the cost of your health insurance. Or worse, if you would even have health coverage at all if you were to be laid off. Here are a few options, in case are laid off:
1. Continue Group Coverage through COBRA
If you have employer provided health coverage, upon unfortunate termination you may have the option of continuing coverage through COBRA (Consolidated Omnibus Budget Reconciliation Act) with an additional cost. COBRA is a law which extends the company sponsored group insurance if for any reason your job was to be terminated. Though you can still have the same coverage, you usually have to pay the whole premium out of your pocket and it’s usually higher than what the company has to pay for it. For this option you have to coordinate with your company’s insurance coordinator. This would be a good option if you or your family member is in the middle of a treatment for an existing condition. If not, check out Option 2 and 3 for cheaper and better alternatives.
2. Non US Citizens/Visa Workers can Buy Temporary Health Coverage
In this grim outlook of the economy and the daily news about layoffs, non U.S. citizens can save hundreds of dollars by switching to a non-resident health plan where premiums can be as low as $36 per month. These plans are great if you need health coverage right away and don’t have time to go through the longer approval process for domestic individual health insurance like Kaiser, Blue Shield, or Anthem.
There’s no approval, no tests, no waiting period, no social security number requirement, or paper work necessary for immigrant plans. Just apply online and get coverage the very next day. To qualify for these plans you have to have a non-immigrant visa. All you need is your passport number, date of birth, and name to apply.
Get quotes and compare several insurance plans here: http://www.visitorscoverage.com/immigrant/compare/
3. Assess your Current Health Coverage
If you are a resident of California, you may get a low cost quality health insurance for as low as $45 per month. This is a good option for you if you are a resident of the U.S. and/or if you’re a looking for a somewhat longer term insurance.
See how much it can cost:
If you have specific questions regarding your health coverage options after being laid off, send them to firstname.lastname@example.org.