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Job Changes And Health Insurance

Guest post by: John Clark

Article Overview: With the tough economic times, many people are struggling to choose the best option for them when it comes to getting a new job and health insurance.

Job Changes And Health Insurance

With the tough economic times, many people are struggling to choose the best option for them when it comes to getting a new job and health insurance. Times are tough and people all around the country are discovering that their paycheck isn't the only thing that's being affected by the economy. Benefits in many companies are beginning to cost both employees and employers more and more, and should you have to change jobs you might find that your options in this area are limited. There is hope and you can keep you and your family protected.

Consider a COBRA

When you're on the verge of changing jobs, you might be worried about your benefits. How long will you have to wait to get your new health insurance? How much is that insurance going to cost you? How good is it and will it cover your present health care providers? For some, taking the time to review the benefits package just isn't an option. How will you make sure that you're covered in the time that you're waiting for your new benefits to take effect?

One option which employers who offer health insurance should offer you is a COBRA package. No matter if you're laid off, you quit or you've been fired, your company still needs to offer this to you. Basically, when you buy a COBRA, you are paying for the same health insurance that you've had while working for your previous employer. Some plans will offer you different choices, such as a three month, six month, or one year package for you to choose from. Then, it's up to you to decide which one will best meet your needs.

The problem with a COBRA insurance package for many lies in the price. Of course coverage will vary depending on what you currently have and provider, but if you have been carrying a very nice PPO, then you might be looking at shelling out at least $3,000 to continue coverage of this standard.

The great thing when it comes to this kind of health insurance is that you are able to maintain your benefits just as they have been while you're going through the process of a job change and for many, that's peace of mind that just can't be bought.

Other options

There are other options which you might want to look into when it comes to job changes and health insurance. For instance, you may choose to purchase your own health insurance policy. These are offered by many big name insurance companies and in many cases, you can custom build your policy, but they can become cost prohibitive for many people.

Depending on the insurance company, a PPO with an 80/20 coverage to health care providers in-network can cost a family of four about $350 a month. If you're single and have no children or if this is an affordable option for you, then you may want to seriously consider it for a year or so, until you see what your new employer has to offer when it comes to benefits. Keep in mind that all insurance costs will depend on your individual case and make sure that you read about all the benefits this type of coverage has to offer you.

Another health insurance option for you to consider if you're between jobs is temporary insurance. This is essentially a bare minimum temporary policy for the term of your choosing, that will cost you far less than choosing a PPO independently. Keep in mind that this type of health insurance, while cheaper, is mostly to be used for emergencies and won't save you much for a regular doctor visit. Depending on the coverage, a family of four can usually be insured in this way for about $150 a month or so.

If you're making a job change and are concerned about health insurance, you should know that you do have good solid options out there, so you don't need to go broke paying for health insurance that you and your family need.

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Article Tags: economic times, health insurance, insurance, insurance job
Referred by: http://www.franchisefix.com/



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