Have You Lost Your Health Insurance?
nsurance is something that we often take for granted until we are faced with difficult health circumstances. Because of this, people often think they can go without insurance for a limited amount of time. They assume that they will most likely be fine and probably won’t even use it. However we know that this is not true for many. Amidst the global pandemic that has rocked the United States economy for the last 9 months, millions of Americans have lost their source of health insurance. WIth the majority of Americans receiving health insurance benefits from their employer when mass waves of layoffs occurred people were left without coverage. If this sounds like you, read on to learn about some of your options.
Health Insurance Insecurity
One of the main benefits of working for certain larger companies is their insurance coverage, we almost expect it now as Americans. Companies take pride in offering their employees affordable and wide covering health plans for them and their family. Unfortunately, The pandemic brought along restrictions on people's day to day lives, the workplace and so many industries. People were laid off constantly for months, with the highest unemployment rate reaching 14.7%. This is the highest that the unemployment rate has maintained for longer than a month since 1948, truly unprecedented times and record setting hardships for many. With this loss of work and income came a loss of health coverage as well. Many of these people that were let go were between the ages of 16 and 45. The majority of people in this age group, especially millennials, are single and rely on their own work for health coverage. So what happens now?
First Steps to Getting Coverage
The first thing to do is communicate with your employer and see what options they provide. For a lot of these companies they allow their laid off employees to maintain coverage through the end of the month in which they were let go. Once this period of time is over, your company should provide you with plans that you can switch to, like COBRA or medicare/medicaid. You will have 60 days to be eligible for COBRA benefits after your are laid off. The downside to this option is that it can oftentimes be more expensive. If your company has only furloughed, or temporarily stopped work with the expectation of returning with you on the team, then you may still be able to stay on a group plan. Make sure to speak with human resources and ask all of your questions.
What if you will not be receiving any type of coverage from your previous employer? At insuravita we believe that any coverage is better than no coverage, but there are options that are best for you. The best thing you can do is shop around and look at your options. If you are in a position to take your time and find the right solution for you, then look into long term health insurance options on Insuravita. There are several providers of long term health insurance and many that are affordable. If you are in a more delicate health situation then short term health insurance may be best for you.