Health Insurance -
Health insurance becomes critical after job loss - 08/06/2008
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As well as ending your chief source of income, jobloss may have further repercussions affecting your health insurance. You will need to decide what to do about health insurance if your employer has been providing your coverage.
The temptation might be to go without it to save money, hoping nothing befalls you before you find a new job with insurance. However this would probably be a mistake. Even the young and healthy can suffer broken bones playing sports or through a car accident and rack up steep medical bills.
So what other choices are there? For Americans, when you lose a job, you have certain insurance rights under federal and state laws.
You will need to consider your options. First are the ‘Spouse's benefits’. Do you have a spouse who has insurance at work? If so, under federal law you can enroll in your spouse's plan even if it's not open-enrollment time.
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