Job Loss and Healthcare
In this economy, the loss of jobs occurs daily. When you lose a job, whether it be a voluntarily buy-out or an involuntary layoff, a whole host of questions arise regarding how best to manage bills and expenses. High on the list of questions is healthcare coverage and spending.
A quick assessment of your situation will help guide you through the process of determine your healthcare future. Asking yourself questions such as low long you expect to be between jobs, if you have dependents relying on your health coverage, or if you know of any large, imminent healthcare expenses in the near-term is a start. Still, there are a few steps you can take regardless of your personal situation.
Here is a step-by-step guide to managing healthcare coverage and expenses when your job goes away.
- Step 1: Learn about COBRA
- Step 2: Determine if you qualify for other coverage
- Step 3: Plan for near-term medical expenses
- Step 4: Manage existing medical bills
- Step 5: Change your healthcare habits to minimize cost