Many workers find that they cannot afford their employer’s group health insurance offering. This can happen at a small business, with part-time employees, and for families with many children.

Buying individual coverage on the state exchange could be the right answer – provided you qualify for income-based subsidies or meet Medicaid requirements in your state. Medicare is an option for seniors and the disabled.

 

What happens to your health insurance after leaving your job? People have several choices, some of which are not ideal: going uncovered, paying the high premiums for COBRA, enrolling in your spouse’s group plan, or buying an individual policy.

Many people fail to realize just how much their employer contributes to their health benefits until after they leave their job. Be prepared for the transition.

 

Young adults reaching the age of 26 are just beginning their careers and take advantage of their parents’ health insurance as allowed by the Affordable Care Act. This is often the best option.

All bets are off after reaching this new milestone birthday. You may be able to continue on your parents’ plan or may need to purchase an individual policy. You have a 120-day grace period window for action.

 

Along with an unpaid maternity leave, a sudden spike in health insurance premium costs is a nasty surprise for many couples in the United States.

Many families do not discover the true cost of their healthcare coverage until they must pay the premiums themselves without an employer contribution, using post-tax dollars.

 

Paying insurance premiums using tax-favored methods is an incredibly important strategy that families young and old should embrace. It is often far too easy to procrastinate important purchases because of the monthly cost.

By taking advantage of tax savings on the premium, your claims benefit may be much smaller. Cancer insurance policies represent a low-probability versus high-return tradeoff. Having a slightly smaller benefit is far better than none at all – if the need ever arose.