Help Me Find a Job! I Need Health Insurance!

September 14, 2012

Job Hunt

Get Hired Fast - help me find a jobOne of the great benefits of working for a larger company is the group health insurance that these firms provide. Thanks to such insurance policies, workers can care for a wide range of illnesses and injuries and practice preventative healthcare without draining their finances. Problem is, if you’re waking up each morning shouting, “Help me find a job,” the odds are good that you’re also struggling with health insurance.

It might be tempting to skip heath insurance coverage while you’re unemployed. After all, money is tight already; eliminating the cost of health insurance can free up a significant amount of money.

Problem is health insurance is important. If you should suffer a sudden injury or illness, not having the financial protection of health insurance could quickly bankrupt you.

Fortunately, you do have health insurance options even as you attempt to find a job.

COBRA

The most common of these is COBRA, the federal program that allows many employees to remain on their most recent employer’s health insurance plan for a set number of months after losing their jobs.

Under this plan, you’ll receive the same group insurance benefits during your job search that you did while working for your most recent employer.

That’s the good news. The bad news? COBRA is extremely expensive. That’s because you are responsible for covering the monthly insurance premiums when you’re on COBRA. Before losing your job, your employer paid for a hefty chunk of this coverage.

For many who are unemployed, COBRA is simply too expensive of an option.

Private Short-Term Health Insurance

Those who are in the middle of a job search can also turn toward private short-term health insurance. This type of health insurance typically runs for six to 12 months. When you suffer an emergency illness or injury, your short-term policy will provide you with a lump sum payment that you can use to cover your medical expenses.

There are some problems with short-term insurance, though. First of all, though it is usually more affordable than is COBRA, it’s still not cheap. That, again, can place a financial burden on unemployed people trying to make ends meet.

Secondly, short-term health insurance policies tend to cover only emergency medical treatment. If you want to schedule a routine check-up or physical, your short-term policy probably will not cover the costs.

Finding a Job Remains Best Option

The best health insurance option remains finding a job, of course. The majority of people in this country receive health insurance from an employer. You want to be in this majority, as it is significantly cheaper to rely on employer-provided group health insurance than it is to shop on the open market for private health insurance.

If you need help finding a job, and getting back on a company-provided health insurance plan, sign up for our Get Hired Boot Camp. Our career counselors can help you master today’s challenging hiring environment.

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