Job Woes and Health Insurance
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November 12, 2008
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)Since the beginning of 2008, over 1 million jobs have been lost. When a person loses their job, they are not only losing their primary source of income, but more than likely lose their health insurance coverage as well. Approximately 63% of Americans under the age of 65 have health insurance coverage from their employer.
Don't Have Health Insurance Coverage?
In 2007, 45.7 million U.S residents did not have health insurance coverage; that's roughly 15% of the population. Those who don't have health insurance coverage will collectively pay $30 billion out of packet for medical costs. People who don't have health insurance coverage often skip checkups and wait until there is a serious problem before seeking help, leaving them to pay hefty medical bills.
If you have health insurance coverage through your employer but have noticed the benefits have decreased or the amount you pay has increased, it could be beneficial to research individual health insurance policies. With the soaring health insurance costs, employers are finding it harder to provide health insurance and are either passing costs on to the employees, or cutting health insurance benefits on the whole. Hopefully President-elect Obama's health insurance plan will help alleviate some of the health insurance costs.
If you have lost coverage because you lost your job, then you will need to look into individual health insurance plans. There are a wide variety of individual health insurance plans ranging from COBRA, HSAs, HMOs and PPOs. With health insurance it is wise to research the different individual health insurance options that are available to you. You can compare health insurance quotes by using InsWeb's online health insurance quote form.
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