Being Unemployed Sucks

When you’ve been let go your first and most obvious concern is the loss of your income – but another great concern should be your health insurance. Heaven forbid you were to get into an accident or get very ill. An emergency room visit can cost you anywhere from hundreds to thousands of dollars.

COBRA

If you had health insurance with your last employer may be able to elect continuation coverage also known as COBRA. The U.S. Department of Labor has a FAQ section to give you more information on COBRA. The continuation coverage lasts for 18 months and can cover your family as well. You MUST elect for coverage within 60 days.

The Stimulus Act or ARRA also allows for a discount on COBRA via a tax credit.

The American Recovery and Reinvestment Act of 2009 (ARRA), as amended on December 19, 2009 by the Department of Defense Appropriations Act, 2010 (2010 DOD Act) provides for premium reductions for health benefits under the Consolidated Omnibus Budget Reconciliation Act of 1985, commonly called COBRA. Eligible individuals pay only 35 percent of their COBRA premiums and the remaining 65 percent is reimbursed to the coverage provider through a tax credit. To qualify, individuals must experience a COBRA qualifying event that is the involuntary termination of a covered employee’s employment. The involuntary termination must occur during the period that began September 1, 2008 and ends on February 28, 2010. The premium reduction applies to periods of health coverage that began on or after February 17, 2009 and lasts for up to 15 months.

The only problem with COBRA, especially if you have a family, is that it can be very expensive.

Medicaid or other State Sponsored Programs

In certain situations you may qualify for Medicaid. It is administered through each individual state. Eligible people include: certain low-income families, parent of eligible minor children, pregnant women and people with disabilities.

Each state may also have other health aid options, you can choose your state and see the available programs on the Needy Meds site.

If you don’t qualify for COBRA or Medicaid. You can get your own health insurance.

Independent Health Insurance

Visit a site like eInsurance (the one reputable site that I know – and that I’ve personally bought insurance from). Fill out your information and the site will gifve you premium options.

If money is very tight, you can choose a low cost premium, but it will come with a high deductible – but as long as you can have higher coverage for accident and emergency situations, it could be well worth it.

Health Clinics

The U.S. Department of Health Services has a clinic locator on their website. They provide: checkups when you’re well, treatment when you’re sick, complete care when you’re pregnant, immunizations and checkups for your children, dental care and prescription drugs for your family, mental health and substance abuse care if you need it.

Needy Meds also has a locator tool for you to find low cost, free or sliding scale clinics.

Another solution, though a bit more pricey than these other clinics is Minute Clinic located in some CVS stores. They list their services and costs on their website. These clinics require no appointments and are open on weekends.

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