Many Americans get their health insurance coverage through employer-sponsored health plans. For those who lose their coverage due to the loss of a job, finding health coverage can seem like a daunting task. However, there are coverage options for individuals who are unemployed or have recently lost their job.
COBRA can provide important protection for people who have pre-existing medical conditions that may prevent them from getting approved for a new health insurance plan on their own. You should carefully consider COBRA coverage if you or a member of your family are currently pregnant, have a pre-existing medical condition , or have been declined for private health insurance already. However, if you or other members of your family are relatively healthy, you may be able to purchase a comparable individual and family health insurance plan for a lot less money than COBRA will cost.
COBRA can be expensive since you are usually required to pay the entire monthly premium which had previously been split between yourself and your employer. You may also be charged a 2% administration fee. If you extend the term of your COBRA coverage beyond the initial 18 months due to disability, you may be required to pay up to 150% of the monthly premium. Purchasing an individual or family health insurance plan on your own may be substantially more affordable than COBRA. At eHealthInsurance, we work with over 180 leading health insurance companies that provide individual and family health insurance plans.
For unemployed individuals who do not qualify for COBRA or a private health insurance plan, you may find health coverage through a state sponsored health insurance plan. Many states offer high risk insurance pools, health plans that are similar to the coverage provided by comprehensive individual health insurance plans. If you′re not sure whether or not you can qualify for coverage on your own, talk with one of the licensed agents at eHealthInsurance for personal advice. Our agents can also direct you to government-sponsored health insurance resources.