People quit or change jobs; these are the times that affect a person’s medical insurances. Quitting a job, taking time off between jobs or the wait for the health insurance coverage to activate at the new job is matter of wait.When a person quits a job, especially a corporate job, the premium that is usually paid by the employer seizes which means, bad luck! You’re uninsured.

It is important to not overlook the situation of health insurance when hunting for a new job because that can take a toll on your life saving if something unfortunate happens. Health insurance doesn’t just cover regular and preventive medical care but also provide the cost of expensive treatment during a serious accident or disease. All the medical coverage and group healthcare benefits expire when you leave a job post.

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Affordable Care Act

Obamacare or Affordable Care Act (ACA) or Obamacare was set up to increase the health insurance scope my making it affordable. U.S. Supreme Court also passed a key provision stating that ACAmakes it mandatory to have health insurance policy or you’ll be penalized.

Stay Insured when swapping jobs:

  • Short term health Insurance

These plans cover cost of serious injuries or illness. It gives you a chance to choose preferred specialists and doctors. It covers the major medical costs of surgeries, prescription drugs, follow-up checkups and more. Existing illness and childbirth are not covered by these policies. Short term policies range from a time period of 6 months to a year and can be easily discontinues without penalty fee.

  • COBRA

Consolidated Omnibus Budget Reconciliation Act, gives the previous employees to option where they can continue using their group health insurance policy coverage at the company’s rate. Individuals get 60 days to elect for the extension and if elected, they have 45 days to pay the premium of the first month.

Swapping jobs can be a very hectic process, so a short term healthcare insurance during this transition is very necessary. An insurance lapse in this moment can be the worst thing imaginable. Know more about how to avoid being uninsured from job change here.