7 tips if you lose your health insurance

December 23, 2009 by  

In today’s world we know how the prices are rising. It is not like that price has gone up only for the commodity product but even for other thing also. Imagine, what is the cost of hospital? How much you have to spend for a by-pass surgery? So, we should understand the benefit of health insurance. We can avail the benefit of health insurance from the company where we are working. But once we lose the job we even lose the health insurance too. So I am just going to tell you the 7 tips if you lose your health insurance.

1. COBRA

One of the good options may be COBRA (Consolidated Omnibus Budget Reconciliation Act). If the worker has lost the job from the employer they can purchase a cover of up to 10 lakh by this option. The cost for this option should be incurred by you only. This option allows you the facility that even you can purchase it for anyone in your family who were also covered before you lose your health insurance from the employer. COBRA is not insurance but it is a law which provides you the facility to continue the health insurance provided by your company before you lose your job. Only the workers who had worked in a company that has more than 20 employees and were covered by group health insurance have the eligibility to purchase through COBRA.

2. Short term major medical health insurance

As the term suggest it is a short term health insurance. This is good for you and your family if you are in between a job. This insurance covers you not more than for 12 months. Again this is a low costly health insurance option.

3. Individual major medical health insurance.

This insurance covers you for more than a year and a bit less expensive than COBRA.

4. Indemnity plans

It is a form of insurance that is very low costly but at the same time its benefits are also limited. But still it will help you in something.

5. Discount Plans

These plans are also very low costly and provides you 50% discount on the medical expenses.

6. Search for the low cost hospital:

It is important that you go for searching a low cost hospital where there is a benefit for the person not having health insurance.

7. Search for a new job

You can also go for searching a new job which would provide you with all the health insurance facility

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