Unemployed recently and looking for insurance options?
If you have been recently unemployed and in addition, if you have health problems, the basic problem before you is how to stay insured in this testing time of unemployment. We assure you here that the laws definitely are there to help you out.
One option is Cobra which says that you can get an extension of the coverage you had prior to unemployment. However, you need to apply within 60 days of becoming unemployed and then you have the coverage for up to one and a half years after you lose your job. Cobra has its own flips and swings. The drawback is that you have to pay the full premium price, including the portion your company had paid for you, but the bonus is that if you were laid off between September 2008 and December 2009, the US government will pay 65% of your monthly premiums.
The last resort policy would be HIPAA (Health Insurance Portability and Accountability Act) policy as everyone is protected by certain healthcare rights mandated by HIPAA including the right to insurance.
However, more often than not, these individual health insurance policies can be quite pricey and you have to lookout and negotiate with the insurance providers to get most affordable health quotes from insurers so that you can also decide if you should elect to choose extended health insurance (Cobra), or will resort to an individual health insurance policy.
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