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Posts tagged ‘job loss’

by Logan

Are You Choosing Not to Have Health Insurance?

Health Care and health insurance is a huge debate – both on national levels, state levels, and even in our own homes. The dilemma is present and the outcomes are even scarier. No matter what side you are on, hopefully you can see that not having health insurance can be a potentially huge problem.

Often health insurance is something that we take for granted. Of course, this isn’t in all cases. It appears to be especially true for college age students.  Is the reason for this availability or choice. Are more people loosing their jobs or is good coverage becoming too expensive.

A recent study came out and indicated that some 48 million Americans may be without health insurance. But not all of the cases are because of a lost job or unemployment. Some are by choice. Others site that individual health insurance is too expensive.

Without health insurance, large problems brew. With no insurance, you may skip out on that yearly exam or you may avoid getting treated for moderate pains, problems, or concerns. In the end, this only worsens your overall health.  In the long run, this could prove to be a vital problem.

The Commonwealth Fund provided the study of around two thousand individuals. 25% did not have any insurance and around 25% of those who didn’t have insurance have never had insurance. Another 30% or so indicated that they had lost their insurance from an employee sponsored insurance through cutting of jobs, benefits, or a complete loss of a job altogether

Some argue that no one is choosing to not have insurance

There are those who report that choosing not to have insurance and being unable to pay for it is vastly different. What do you think?

Could someone make enough money on paper, but have too much debt. It looks like they may be well off but really, they are struggling to stay afloat.

Common sense or your own history would make it difficult for you to believe that anyone would actively choose not to have insurance.  Ideas that they may be saving the money that they were going to use for insurance into a special account to use for doctor visits.  Are you money savey enough to save your money enough to have a real benefit from not getting insurance.

Remember back to your College years

I personally had tons of friends who choose not to waste their money when they were single on insurance. They had the invincibility shield on and believed that they would never need the insurance and so why pay for it.

The U.S. Department of Health and Human services estimated that in 2008 – 44 percent  of those uninsured were between the ages of 18 and 34.  Their belief that a good portion of these people believed that they were immune to sickness.  In half of these cases, the individual could pay for individual insurance.

But many of those, who choose not to have insurance while single and a student, once married, are strong supports for health insurance. When a family comes into play, a lot of things change.


Health Insurance is a very tricky issue to deal with.  Without a doubt, there are those who need insurance who can’t get it. This could be a variety of reasons, and the most basic, is that they haven’t taken enough time to search through and find a individual coverage that suits them.

Others have recently lost their job or are in-between jobs. Another good proportion of people, their companies no longer offer this benefit. That would be so hard, to previously have had insurance, to have not lost your job, but are no longer able to have insurance through your employer.

But at the same time, for whatever reason, there are those who are actively choosing not to have insurance. They may see someone else forcing them to have insurance as a bad thing.

The one thing that we know for sure, not having insurance is a horrible thing. You may think that you are invincible but one day, something may happen. By not having insurance, you could be setting yourself up for a life full of financial misery. 

Take the time and find an insurance that is right for you.

by Logan

What is COBRA?

Well, besides a snake, a decent book, and some last names of some famous individuals.  COBRA is a health insurance plan that can protect you.  It is an interesting  fall back plan of health insurance and it is something every individual should know more about.

When you’ve lost your job, besides the loss in income, one of the first roadblocks considered is insurance, especially health insurance. But Job loss isn’t the only thing that causes this worry. What if, your spouse was the one with insurance and you weren’t. A messy divorce may have you worried about insurance. COBRA is a solution for both cases.

COBRA stands for The Consolidated Omnibus Budget Reconciliation Act of 1985.  This law requires many large and small employers to offer employees to continue their group health coverage.  In most cases, this health care coverage can last anywhere from eighteen months to thirty-six, depending on the situation. They will take into account disability, dependents, and spouses.

The COBRA plan would cover anyone who was covered under the plan in the first place.  Even a new child, born while under COBRA qualifies as long as they are added within 30 days of birth or adoption.

 Why would you need COBRA?

1.)     You were terminated from your employment.

2.)    You quit your employment

3.)    You lost the necessary hours for the employer to offer benefits

4.)    The divorce or legal separation of a covered employee from their spouse.

5.)    Others

Choosing to start COBRA can be a difficult position. For whatever reason arises that this must be considered, you must remember that you must approve COBRA coverage. It is not automatic. A 60 day time period is given where you may choose to begin coverage. After 60 days, additional discussion must be made with someone involved in your insurance coverage.

Payment must be made within the first month or two after initiating coverage. If the initial payment is not received, within the first 6 weeks of coverage. The insurance may be denied, revoked, or reviewed.

The interesting aspect is that COBRA is not endorsed by any insurance plans. Because it is a law, it is a provision to protect an employee and and employer to allow medical coverage even after something has happened, such as a family change or termination from employment.

The big drawl back from COBRA is price. Typically, because the employer is no longer paying a portion of your health insurance, the cost skyrockets. This has been a real turn off to many number of people. The American Recovery and Reinvestment Act or ARRA has provided some breathing room in the area of cost.

This act substantially reduces the premium offered for COBRA policies. This was largely put into affect a few years ago. It was primarily for those who were terminated. Continued decreases in premiums could go for fifteen months. The deadline was May 31st 2010 and for those who took advantage – additional fifteen months of decreased premiums have been seen.

Overall, health insurance nightmares have largely been avoided, but at a steep price. But for many, this is a good bridge to be used until another source of health insurance could be found. If used for a month, or ten, insurance didn’t lapse and the result of good health coverage and relief can not be measured. Learning about COBRA in any circumstance is helpful, you never know what will happen in the future.