insurance

Finding the Right Medical Insurance for Unemployed

Life has been tough for a lot of Americans in the last decade or so, with the dollar losing its steam and with people losing jobs. Even if you lost your job or you are working on reduced hours that do not mean your health care should suffer. One thing’s for sure, standard health policies are pricey and for that matter, it is not an ideal expense to keep. However, it is a vital aspect to have to ensure that you have financial support if you ever needed help. It is very important to have an awareness of what is available and find the best medical insurance for unemployed. As you grow older, you need to make sure that you have medical benefits and this is why before your coverage dries up, you need to find medical insurance for unemployed.

If you have not thought of it before, when you leave your job, one medical insurance for unemployed that you can keep is the COBRA. This is the Consolidated Omnibus Budget Reconciliation Act of 1986. This is good but you have to be sure that you have sufficient money to keep your medical insurance for unemployed alive since you need to pay for the policy plus the administrative fee which is around 2% of the policy. This is a big concern and not all can avail the COBRA. This is the reason why the Congress included a premium discount for the COBRA in the stimulus bill. This allows 65% subsidy for a period of 9 months, giving you medical insurance for unemployed if you lost your job between September 2008 and May 2010.

Sadly, as a medical insurance for unemployed, the COBRA is not the most reliable option to consider since it could turn to a halt without your knowledge. Let’s say the former employer went out of business or they stopped providing group policies, or you were not able to pay your monthly dues, then the medical insurance for unemployed will be canceled and you have to find a new medical insurance for unemployed. Even if you were late for a short time in payments, this medical insurance for unemployed is so ruthless that you will be cut off from the plan and for some people, their only hope is to get high ri9sk policies that cost $500 and above, monthly.

If you have the COBRA as your medical insurance for unemployed, you need to start researching for alternative plans as early as the time you were accepted for the policy. It can take a lot of time to find medical insurance for unemployed. It is easy to be desperate and frustrated something that some insurance agencies are very much happy to take advantage of. Before you agree to the terms of the medical insurance for unemployed, review the summary of the policy and all details that are related to it. Do not buy medical insurance for unemployed when under pressure. You might want to get a medical insurance for unemployed that has a high deductible and lower premiums. This will minimize your overall expenditure for the medical insurance for unemployed especially if you are not a high risk individual and you only need funding for regular checkups and such.

If you want to know how to get medical insurance for unemployed, simply choose your state from the list below and find the best policies that fit your budget.