The aspect of health insurance poses a threat to the unemployed individuals, especially soon after they lose their jobs. Besides the loss of a paycheck, the Healthcare for Unemployed seems to be of great importance when the breadwinner has a decent family. Since opting for fresh insurance which is considered to be more expensive, there are few good options available for these unemployed individuals. The only thing they need to do is to make a good search on the World Wide Web wherein they can get the desired information about the insurance plans that are available for the unemployed individuals.
People who are laid-off can request the employer to review the benefits of these laid-off employees who are entitled to receive some compensation as per the terms agreed by the insurance firms and the employer. If this does not work out, the individual can ask the employer to continue the coverage through COBRA. In general, the firm which has more than twenty employees has to enroll with COBRA which is mandatory for such employers. According to this coverage persons who are terminated or laid-off can enjoy this cover for eighteen months after the termination period. In few cases, the employers are liable to pay the full coverage as a part of the severance obligation package.
The first option available for the unemployed individual is to seek help from their local unemployment office for health insurance options that they qualify for. COBRA is required to be offered by an employer as an extension program should the employee become unemployed but shows little regard for the cost to the individual. Most people will accept the COBRA plan as a simple way to continue health insurance coverage. If an unemployed individual is choosing to get individual health insurance, then he or she should look around early on to give more time to weigh the options and decide on the most appropriate and beneficial insurance.
It is possible to get low-cost health insurance for the unemployed, but it offers coverage only for an acute medical occurrence. This type of health insurance does not normally cover basic healthcare requirements. When the person is still undecided about getting health insurance for the unemployed, then he or she can opt for short-term health insurance coverage which is known to be a lot more affordable than the highly premium health plans but are available only for six months to a year.
Taking an insurance coverage during unemployment is determined by the household income of the concerned individuals. Considering the other household income like spouse’s income, rental income if any, and other revenue, one can take the option of looking the following options:
The popular Marketplace insurance plan is one of the available options that can be considered. The premium is determined purely by the total household income and size. The unemployed person can also qualify for Medicaid insurance plan. This unique insurance is government subsidized coverage for people that fall into the category of the poverty line. The CHIP (Children’s Health Insurance Program) is also a good option as it covers kids as well as pregnant women and it is pretty useful for the intermediate families who lie between lowest and average income groups.