Monday, May 4, 2009

Keep your health insurance kicking even if you have lost your job

Even if you have lost your job to recession stay assured that in these difficult times you can still have the coverage of your health insurance. Check out how all this is possible:

In your mailbox keep an eye out for COBRA forms which is a federal law enabling you to maintain healthcare coverage from your earlier employer for up to 18 months even if you go on to lose your job but it has a downside to it.

COBRA can prove out to be expensive in testing times as it can cost $1,000.00 or more per month for family coverage.

Also not everybody would be eligible for COBRA and in case you have been fired rather than laid off then COBRA is not for you. In case you are married and not eligible under COBRA your spouse could be covered under the plan.

You may term COBRA to be expensive but in case of real medical emergency need it will emerge out to be cheaper as compared to shelling out money from your own pocket.

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