New Job? Don't Quit Your Health Plan
According to The Motley Fool, "There's no bigger threat to your financial well-being than being without health insurance."
That's why it's important to make sure you're covered even when you're in-between jobs. An unexpected illness can cost you your life savings. Just one hospital visit can cost thousands, and complicated procedures can cost as much as $100,000.
So if you're leaving a job, whether it's to take time off or because you've been offered another job, make sure you're covered. When you quit a job, the COBRA laws mandate a 60-day period for you to decide whether you want to remain covered under your employer's plan. If you decide to stick with your employer's COBRA plan, you're entitled to the same coverage you had while you were employer for up to 18 months, but you'll have to pay the entire bill.
You may want to look into an individual or family health plan because the rates may be lower than your employer's COBRA plan.
If you're starting a new job, make sure you have continuous coverage from your old job to your new job. There are affordable short term health insurance plans available than can help cover any gaps.
That's why it's important to make sure you're covered even when you're in-between jobs. An unexpected illness can cost you your life savings. Just one hospital visit can cost thousands, and complicated procedures can cost as much as $100,000.
So if you're leaving a job, whether it's to take time off or because you've been offered another job, make sure you're covered. When you quit a job, the COBRA laws mandate a 60-day period for you to decide whether you want to remain covered under your employer's plan. If you decide to stick with your employer's COBRA plan, you're entitled to the same coverage you had while you were employer for up to 18 months, but you'll have to pay the entire bill.
You may want to look into an individual or family health plan because the rates may be lower than your employer's COBRA plan.
If you're starting a new job, make sure you have continuous coverage from your old job to your new job. There are affordable short term health insurance plans available than can help cover any gaps.
