More Affordable Health Insurance for the Recently Laid Off
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You know I am adamant that you can never afford to go without health insurance. Now, this new assist from the federal government should go a long way to help you stay insured if you have been laid off.
The government coverage is available to anyone who was laid off between September 1, 2008, through the end of 2009 and whose employer does in fact provide COBRA health coverage for former employees. If you were laid off since September 1, but you turned down your employers COBRA offer, you now have 60 days to contact your old company and ask to enroll in the insurance program. You will be charged for 35 percent of the cost, and your employer will recoup the other 65 percent directly from the government.
More recession rescue advice from Suze Orman
The government coverage is available to anyone who was laid off between September 1, 2008, through the end of 2009 and whose employer does in fact provide COBRA health coverage for former employees. If you were laid off since September 1, but you turned down your employers COBRA offer, you now have 60 days to contact your old company and ask to enroll in the insurance program. You will be charged for 35 percent of the cost, and your employer will recoup the other 65 percent directly from the government.
More recession rescue advice from Suze Orman
Please note: This is general information and is not intended to be legal advice. You should consult with your own financial advisor before making any major financial decisions, including investments or changes to your portfolio, and a qualified legal professional before executing any legal documents or taking any legal action. Harpo Productions, Inc., OWN: Oprah Winfrey Network, Discovery Communications LLC and their affiliated companies and entities are not responsible for any losses, damages or claims that may result from your financial or legal decisions.
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