What is the Best Health Insurance for Unemployed?
Best health insurance for unemployed: Most people in America get their health insurance from their employers but then what about those who are unemployed. Around 14 million jobless people have to take desperate measures. Before purchasing insurance, here are a few tips to get in mind:
Get the details:
The health insurance system is very confusing and complex so before enrolling in a program, check all details and get acknowledged with all options. The first thing to decide is which coverage is needed and make a realistic assessment of how much you can afford to spend for coverage. The plan should be such type that covers all need and also fit the budget, especially for the unemployed.
Don’t Let Costs Scare You Away From COBRA:
Consolidated Omnibus Budget Reconciliation Act (COBRA) is a health benefits provision launched in 1986. Many people thought that it is the costliest but many times it may be the most comprehensive. The average monthly cost of COBRA is $400 for an individual and $1,000 to $1,200 for family coverage.
It allows keeping a former employer’s health insurance benefits for up to 18 months which rises up to 36 months in some situations. But it becomes a little expensive because a person has to pay for both contributions.
Think Short Term:
If you are not qualified for COBRA then search for other programs like the Centers for Medicare & Medicaid or State Children’s Health Insurance Program available in every state. Plans are available from one month to 20 years. Go for short-term insurance so that you don’t have to pay when you get a job. The policyholder even can return his unused portion of life insurance to the insurer.
Go for High Deductible Plans:
Many people even don’t know the meaning of deductible. It is better to choose a high deductible program that starts from $500 to $10,000 per year. Shop around and know what is covered, what is just as important, and what is not.
Sometimes it creates a problem when a person does not qualify for an individual plan because of medical issues. Visit the Insurance Department or federal government’s high-risk, pre-existing condition pool website www.pcip.gov, to determine plans available in states.
Negotiate Like the Big Boys:
Negotiate with the insurance provider which will save up to 30% cost on medical bills. Talk to the doctor or billing department of the hospital to provide a discount by paying upfront or an installment payment plan. Do not compromise the quality of treatment. Read more articles on rozyjos.
More Related Queries:
- Best Coverage Options for Unemployed and Uninsured
- Best health insurance for unemployed
- Unemployed with no income