The Wall Street Journal has a great article out about how to keep your health insurance if you wind up losing your job.
Here’s what they recommend.
Your spouse’s employer. Suppose you and your spouse both have full-time jobs. You’re both covered through your employer, so your spouse waives the coverage offered through work. Then you lose your job, and the insurance that came with it.
COBRA. This is the classic option for staying covered when you get laid off. For 18 months, you can keep the insurance you had through your work — but you have to pay the whole premium, including the part formerly subsidized by your company.
Private and public options. If you’re relatively healthy, you may be able to find coverage on the private insurance market for less than you’ll pay through COBRA. Don’t be shy about considering high-deductible plans, which come with a lower premium than traditional coverage. Sure, a $10,000 deductible may sound like a lot. But a high deductible plan could save you from bankruptcy if you get seriously ill and wind up in the hospital.
For details, check out the article by clicking here.
One of the caveats I've heard about private health insurance plans is that not all doctors accept them. If you're looking to keep the same doctor, you may want to check with him or her first to find out if private insurance plans are accepted.
Has anyone found any other ways to keep health insurance in a down economy?
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