How to Find Affordable Health Insurance for Unemployed People
Things You'll Need
- Computer
- Paper
- Pencil
Instructions
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Determine Your Needs
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Begin by determining your health insurance needs. You must first decide what kind of coverage is absolutely vital for you and any other individuals who might need coverage. Private pay insurance companies can be expensive and you may have to compromise on the level of coverage you take to help circumvent some of the premium costs. Most insurance companies offer the option of higher deductibles to help lower premium costs, but this may not be the best choice for you and your lifestyle. Make a list of your "must have's" before beginning your search.
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Explore COBRA if you have previously been employed and lost your employment. COBRA is the Consolidated Omnibus Budget Reconciliation Act which is a federally funded program that allows you to temporarily extend insurance coverage after you have been terminated, dismissed, laid off, or you quit or vacated your previous position. Contact your previous employer or your previous insurance company for more specific information on COBRA benefits in which you might be eligible.
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After exploring COBRA you may find that inflated COBRA rates are not a desirable option. Begin your search online for short-term health insurance. This is particularly useful if you are actively pursuing employment and do not plan to be unemployed for longer than 12 months. Of course, no one plans for extended unemployment, so it's important to seek options that allow for a long enough coverage period to ensure your protection for the duration of your unemployment. Compare rates through online quotes, and don't feel pressured to make a commitment to the first company you stumble across.
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Check with your local unemployment office for possible benefits for the unemployed or low-income earners. If you are receiving unemployment benefits, you may be eligible for state funded health care coverage. State funded medical aid programs vary from state to state, so make sure you call and speak to someone who can answer your coverage questions.
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