subject: Can Unemployed Individuals Avail of Health Insurance? [print this page] Can Unemployed Individuals Avail of Health Insurance?
Unemployed individuals may think that they no longer have options when it comes to finding an affordable health insurance. In line with the recent layoffs, however, these individuals are realizing that they actually have cheaper options in comparison to the plans they had during the time when they were still employed. After the layoff, an individual may lose his entire health plan. The individual's employer, in this matter, will at least cover half of the entire cost for insurance while the other half will be covered by the employee. The factor behind this is that group health plans offered by the employer is more expensive in comparison to the individual health plan in general. The reason behind its expensiveness is the fact that the group health plans rates are actually based on typical dynamics of specific groups and not on the individual's actual health history.
Available option for unemployed individuals when it comes to health insurance is cobra or state risk pool. In general, cobra may be considered as expensive. Individuals gain awareness on Cobra after they have been laid off because it is mandated by the government. Actually it is not Cobra which is expensive but the previous insurance of the individual. The government mandates that people who are laid off should obtain an access to at least similar coverage that they had before the layoff took place. Unfortunately, the employer no longer has the responsibility to pay for a certain portion of the health insurance. The entire payment of the health insurance will already be shouldered by the individual himself.
As a piece of advice, it is beneficial that while one is still employed, he should look into family or individual coverage that is outside the plan of his employer. A person might be able to find a more affordable and cheaper option for health insurance.
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