Low Income Medical Insurance
Medical Insurance For Low Incomes
When we consider health insurance for people with low incomes, it is very important to define what we mean by low income. If you mean that a family susbsists on an income below the poverty level, their solutions may be very different than a family with an income of $40,000 a year. Even though a family may have to tighten their belts to live on $40k, and especially to afford health insurance, this is actually not considered poor in the US.
Categories: Health Insurance Tags: cobra, low income, medical insurance
COBRA Subsidy Over? Millions May Lose Health Insurance!
Will Millions More Americans be Without Health Insurance Now?
Well, here’s another financial crisis to follow the first one. Millions of Americans lost their jobs with the largest unemployment spike in most of our adult lives. Lots of those people lost their health benefits too, but some where able to take advantage of a $25 billion dollar COBRA subsidy which defrayed 65% of the costs of the federal medical plan extension. But that plan is due to expire, and millions more may face the loss of medical benefits.
Learn more about Unemployment Health Insurance Options.
Categories: Health Insurance Tags: cobra, Health Insurance
COBRA Health Insurance Extensions Stimulus Help
Are You Confused About the US Stimulus Package and COBRA Extensions?
As you probably know, COBRA is a federal law that forces some employers to keep terminated empoloyees in their group health insurance for several months. However, the employers do not have to keep paying the portion of the premium they pay for active employees. So the cost of health insurance can skyrocket just when a family loses a source of income.
The US stimulus bill addressed this by extending help paying the premiums to some terminated employees. There is some confusion, which I want to address.
Categories: Health Insurance Tags: cobra, Health Insurance, unemployment
US Stimulus Plan To Help Some Unemployed With Health Insurance
COBRA benefits help some unemployed people keep their group health insurance. As we have discussed, this extension usually comes at a high price which shocks many terminated employees. Since the employer does not have to carry any portion of the premium any longer, the ex-employee will have to pay the whole amount.
Financial Stimulus Promises Help With COBRA Payments
Categories: Health Insurance Tags: cobra, Health Insurance
