Getting Affordable Insurance When You Are Unemployed

When you are unemployed, securing affordable insurance can seem like an impossible endeavor. But, doing your due diligence and knowing where to look, you will find there are no lack of options available to you. The same advice would actually be given to those self-employed and individuals who are actually employed. A good first step to would be to check and see if you are available for COBRA (The Consolidated Omnibus Budget Reconciliation Act of 1985) . 

This act allowed for continuity of insurance benefits for those that have a lapse in employment (terminated, laid off or getting transferred). So, if your lapse in employment was the result of any of these reasons, also known as qualifying events, you should contact your former employer about COBRA benefits. Another option for the unemployed would be a short-term health insurance coverage. Short-term health plans are made affordable as they are specifically tailored for the unemployed person. The policy duration is usually 6 to 12 months, which is ideal for someone looking for work. Another option would be to check with your states department of insurance. 

This is recommended to help you find free or low-premium health insurance. You should have access to these types of health insurance in most states and would be available to persons who meet certain income criteria. In some states, there is low-cost health insurance available to those that would otherwise have a difficult time finding affordable health coverage.

At the very minimum you will want have health insurance for your children – free or low-cost coverage or possibly health insurance for special needs such as diabetes, mental health etc.. When you are facing an unemployment situation it should not mean a change in your health requirements. Although, it may take a little research and due diligence on your part, it is definitely possible to find affordable health insurance when you are not working.