Follow these tips to navigate the insurance choice disease during unemployment:
1. COBRA health insurance is a temporary program that will allow the unemployed to pay for their former group plan. The government pays 65 percent of the cost and the unemployed picks up the rest of the tab. This plan can be expensive depending on the group plan.
2. Buy an individual or family health insurance in the private market. The plans may be more affordable than COBRA coverage and is a long-term option.
3. Get a health savings account (HSA) with a bank to save money for medical expenses. Individuals can save money tax free and HSA funds never expire - HSA funds can even be used with Medicare.
4. Find a plan by a committee or a group you belong to. You may be able to find health insurance through a chamber of commerce, alumni committee or through an independent union.
5. For people with pre-existing conditions and have been without health insurance for six months, they must apply pre-existing condition insurance plan of their State (PCIP). PCIP was created by the reform of health care and the costs are similar to those in the private market.
Of course, there may be people who think marrying for health insurance is the best option, but it is certainly easier to talk to an agent about your options first.
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