Health Insurance Available If You Lose Benefits -- But At A PriceResearch Before Job Loss May Save Money, HeadachesPOSTED: 4:30 pm EST December 18,
2008 PITTSBURGH -- Unemployment claims nationally have soared to levels unseen since the early 1980s. When people lose their jobs, they lose more than a weekly paycheck -- health insurance is also in jeopardy.But there are ways to hang on to that coverage.Losing health insurance may be one of the most terrifying aspects of being unemployed, especially if someone has a pre-existing condition that requires treatment or therapy.More than 61,000 Pennsylvanians are now out of work and, like the rest of the nation, their numbers are growing every day.Without insurance, an illness, even a simple injury, could mean a slide into bankruptcy.So it's important to research possible health insurance options before job loss is a reality.If you are laid off, try to get on a working family member's plan through a process called "special enrollment." This will likely be the least expensive health insurance option.If that's not possible, consider COBRA. This allows people who are laid off to continue with their existing company coverage. But COBRA is expensive, as you will pay 100 percent of the premiums, plus administrative costs.To get an idea of just how expensive COBRA is here is one example: if under your employer's health care plan you would be responsible for $721 for an individual policy or $ 3,354 for a family policy, under COBRA you could pay nearly $4,800 for an individual policy and nearly $13,000 for a family policy.Medicaid and the State Children's Health Insurance Program or S-CHIP are options for people who meet the income guidelines. In Pennsylvania, CHIP has expanded so more children can enroll.Call 1-800-986-KIDS to enroll or get more information. To check the rules in your state and for more guidance the Department of Labor has a toll free number at 1-866-444-3272.One other option is to buy coverage on the individual market, but this may be the most expensive option available because you don't get the benefits of group pricing. Related Links:
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