Getting a Health Insurance Quote When Your Redundant  Health News For Families

Getting a Health Insurance Quote When Your Redundant Health News For Families

Getting a Health Insurance Quote When Your Redundant

Each day that passes we feel the recession more. We see more friends being laid off and even more being short-listed for voluntary retrenchment. Research by the government has indicated that some 2 million workers have already lost their jobs in the light of the previous credit crunch and the recession fall-out. The government estimates that another 4 million workers will lose their jobs before the economy makes a turn for the better. In view of these terrible stats, its only normal for people to get anxious about their future.

For most people, next to the loss of income from the redundancy, their biggest concern will be the loss of health insurance coverage. This is one of the main concerns of many employees now that the cloud of redundancy has started rolling in and your job is not as secure as it once was. Even if you are made redundant with appropriate parachute payouts, it is impossible to live on that money for a long time, you will most probably lose the important health coverage that your company provides you and your family too.

Enter the COBRA legislation. COBRA stands for Consolidated Omnibus Budget Reconciliation Act. It is an act that was passed into law in 1986 which for all intents and purposes allows job based health insurance to be transferred over to the employee if they are laid-off. This basically means that you will in most instances and in accordance to the contract that you signed with your employer be able to move your health insurance coverage from a job based one to a private contract, just the same as you had when you were employed. The costs however have to be paid in full by you.

Most people would initially think that this is a good thing; however it mightnt be the blessing that you think it to be when you get into the details of it all. The relief of having your health insurance coverage intact when you lose your job soon dissipates when you realize the amount of money that youll have to pay for the health insurance coverage. In almost all cases, COBRA enabled health insurance policies that you take over form your previous job is quite a bit more expensive compared to normal health insurance quotes from other providers. It isnt rare to hear that the health insurance premiums are 2 to 3 times more expensive than regular health insurance quotes.

Most of the time if you leave your job with your COBRA enabled health insurance plan, it is almost mandatory to get another health insurance quote just so you can actually afford health insurance coverage. The shocking this is that there are people who actually think they should be happy to stick to their COBRA enabled health insurance plans despite the high charges. The choice of health insurance provider is yours and it is your responsibility to get the best quote and coverage that you can.

If you think that you might be paying too much for your current ex-employer health insurance there really is no harm in getting a quote for your health insurance needs from another providers. It is important that you have a good look at what your employer provided health insurance policy covers and mirror that with your new quote. This way you can get a better indication of what the price differences are between your COBRA enabled health insurance policy and the new one.

It is important to understand why the job provided health insurance is more expensive compared to quotes received from outside health insurance providers. Job provided health insurance is normally very comprehensive. It covers almost every single coverage item as it is a blanket coverage for all the companys employees, male, female, young and old. At the very least you must make an effort to trim off the access coverage that you dont need if you intend to keep your COBRA enabled coverage. There will be many coverage items that simply dont apply to you. Keeping those coverage items will be a severe waste of money.

Overall, we suggest that there isnt much point in stressing over health insurance if you think that there might be a possibility that youd be laid-off. Ultimately there are laws in place that will effectively guarantee that you will still be covered with health insurance. The problem will be the lack of income and also the cost of the health insurance. It is at this stage that shopping around for health insurance quotes become very vital. You must find that health insurance policy that provides the best coverage at the best prices.

Information relating to health insurance quotes and anything relating to health insurance, please visit us at http://www.health-insurance.be.

Related posts:Health Insurance Quote Woes When Redundant Each day that passes we feel the recession more. We see more friends being laid off and even more being short-listed for "voluntary retrenchment". Research by the government has indicated that some 2 million workers have already lost their jobs in the light of the previous credit crunch and the recession fall-out. The government estimates that another 4 million workers will lose their jobs before the economy makes a turn for the better. In view of these terrible stats, it''s only normal for people to get anxious about their future....

Getting a Health Insurance Quote When Your Redundant With every passing day the affects of the current recession is making itself more obvious. Everyone hears of a friend or two that gets laid-off and it is only normal that you should start to worry about the viability of your own job with the current employer. It is estimated that the recession has taken approximately 2 millions jobs to this day and another 4 million will go before the recession takes a turn for the better again. It thus becomes of paramount importance that current employees get ready for the worst. They have to look for other potential jobs and also look thoroughly at their health insurance....

Redundancy and its Effect on Health Insurance With every passing day the affects of the current recession is making itself more obvious. Everyone hears of a friend or two that gets laid-off and it is only normal that you should start to worry about the viability of your own job with the current employer. It is estimated that the recession has taken approximately 2 millions jobs to this day and another 4 million will go before the recession takes a turn for the better again. It thus becomes of paramount importance that current employees get ready for the worst. They have to look for other potential jobs and also look thoroughly at their health insurance....

Redundancy and its Effect on Health Insurance Each day that passes we feel the recession more. We see more friends being laid off and even more being short-listed for "voluntary retrenchment". Research by the government has indicated that some 2 million workers have already lost their jobs in the light of the previous credit crunch and the recession fall-out. The government estimates that another 4 million workers will lose their jobs before the economy makes a turn for the better. In view of these terrible stats, it''s only normal for people to get anxious about their future....

How You Can Get a Low Virginia Health Insurance Quote You choose to get Virginia medical insurance quotes so that you are covered in the event you get sick or have an accident. When getting your own Virginia health insurance, you want to make sure that you get the coverage and understand what your medical insurance policy covers....

Written by Tom Blue on February 1st, 2010 with

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