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Getting a Health Insurance Quote When Your Redundant

Todays Date: September 19, 2018

With the affects of the recession being increasingly felt by the general public many people know that it probably is just a matter of time that something is going to happen, it will certainly bring some hardship to employees and their family. It is estimated that this recession has taken 2 millions jobs from the market and that another 4 million will be lost before the economy makes some real gains again. It is thus extremely important for people to know about their situation assuming the worst thing should happen to them, namely redundancy and losing the health insurance coverage that is provided by your employer.

The main things that people worry about when it comes to this recession is the loss of income and also the loss of health coverage provided by the employer. For most people their job represents the only income stream that they have and the health coverage provided by the employer is also the only health insurance coverage that they have. The unfortunate thing is most employees have their uncertainties unfounded. To have your health insurance benefits yanked out under you is certain impossibility in this day and age.

There is a legislation called the COBRA law which for all intents and purposes was a law that was passed to ensure that employees would not go without their health coverage even if they were fired or retrenched. COBRA stands for Consolidated Omnibus Budget Reconciliation Act. The law states that assuming you are employed full-time by your employer and are back by employment papers that any health insurance coverage that you had when you were employed can be brought over to a private contract that you can continue paying for.

Most people would initially think that this is a good thing; however it mightn’t 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 you’ll 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 isn’t rare to hear that the health insurance premiums are 2 to 3 times more expensive than regular health insurance quotes.

With the inflated costs of COBRA enabled health insurance, it is not a matter if you want to get another health insurance quote but most times it is actually a necessity for long get survival. There are however an extra ordinary number of people that simply choose to persist with their COBRA enabled health insurance as if they were afraid that if they got a quote from another health insurance provider that their current policy will expire or something. It is vitally important to realize that you have absolutely free choice when it comes to which health insurance you want to use. It is your responsibility to find one that is affordable yet offers the right coverage for you.

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 company’s employees, male, female, young and old. At the very least you must make an effort to trim off the access coverage that you don’t need if you intend to keep your COBRA enabled coverage. There will be many coverage items that simply don’t apply to you. Keeping those coverage items will be a severe waste of money.

The point that we are trying to put forward is that the availability of health insurance even if you are made redundant isn’t the issue. You will always have health insurance should you need it. You time will be better served if you put your energy towards looking for a new job and also searching for other health insurance quotes which are mo economical for you.

Health Insurance is a necessity, find the right health insurance quotes with us at http://www.health-insurance.be.

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