Being unemployed is one of the biggest curses of the world. Bearing your routine expenses during your unemployment seems like the toughest task on the earth. If you have some income sources other than your job then you might be able to survive but if your job was your sole earning source then you will have to face many difficulties unless you get another job. It is the common nature of fate that when you are unemployed, you tend to get sick too often. But bearing your health expenses during your unemployment also becomes very difficult due to the lack of financial support. So, possessing health insurance for the unemployed during the period of unemployment is very important for you to cope with your health difficulties during this time.
COBRA: some facts
If you were covered under group health insurance by your previous employer then you can still apply for that health insurance coverage by applying for the coverage under COBRA. Offered by the state, this program enables you to remain covered under your employers group health insurance even after the end of your job. According to the further details of this program, if your spouse and kids were covered in this health insurance plan then the coverage for them will also continue under COBRA.
But the issue with COBRA is that you can only benefit from this program if your previous employer had you covered under group health insurance otherwise you would have to get a new health insurance plan.
How to apply for health insurance plan for unemployed?
If you need to apply for the health insurance for unemployed offered under the state-controlled programs then you need to follow the below mentioned steps:
- First of all you need to calculate your household size. Household size holds primary importance in applying for the state-controlled health insurance programs because different houses with different sizes fall under different categories of these programs. So, if you are applying for COBRA, CHIP or Medicaid then you first need to find out the number of dependants and check for eligibility.
- Next you need to calculate your total income. In the calculation of the income you must include the unemployment compensation, the income of other family members, interest income, capital gains income, alimony payment and Roth IRA or 401k account withdrawals. You must keep in mind that your total family income will determine your eligibility for Medicaid or any other unemployed health insurance program.
- Next you must fill in the application form to apply for the health insurance program for unemployed. You can easily download this application form from healthcare.gov. When you are filling the application form you need to enter certain information in the form and before entering the information you must make sure that you are entering the correct information. The information that need to fill in includes your family income and size of household, your residential address and your mailing address, information of all those family members that needed to be covered in the insurance plan, and social security numbers of all the concerned family members.
If you took help from any professional for filling the form then you also need to mention the name of that professional in the form, tax information, immigration information, information about employers of family members and at the last you need to enter the policy number for the health insurance if you possess any right now. After that you need to submit the form. If you are found eligible then you will be awarded with the benefits of health insurance for the unemployed.