History Health Insurance:The rising unemployment rate is making not just job loss but the loss of valuable health insurance coverage for many people. In response, the federal government has enacted early legislation to help with COBRA coverage as well as state aid to families with children.
Changes to COBRA
COBRA stands for the Consolidated Omnibus Reconciliation Act of 1986. Under COBRA, if you worked for a company that had more than 20 employees, then you are able to continue on the group health insurance plan for as much as 18 months. The downside of COBRA is that it could be quite not cheap . In most states, recipients report that COBRA payments account for more than 75% of their unemployment benefit. However, under the latterly passed Economic Stimulus Package, you could be eligible for assistance with 65% of your COBRA premium.
To qualify for the program you must have lost your job between September 1, 2008 and December 31, 2009. Your income must be less than $125,000 for an individual and less than $250,000 a year for a family. If you did not take advantage of COBRA initially, you can still sign up for it. If you did sign up for COBRA coverage, you won't get any money back for the premiums you have already paid, but you will be eligible for assistance from the point after the law has taken effect. Under the new law you will pay 35% of the premium, and the government pays the other 65%. Your assistance could continue for as much as nine months.
State Children's Health Insurance Program
Another measure the federal government has taken recently to help people with health insurance coverage is to expand the State Children's Health Insurance Program or SCHIP. The law will provide $32 billion to the program over the next five years and expand coverage to from 7 to 11 million children. SCHIP is designed to provide health care coverage for children up to age 19 and pregnant women, in families whose income is low, but not low enough to qualify for Medicaid. A portion of the funding will come from an increase in the tax on cigarettes.
Under SCHIP, the federal government provides the states with matching funds to provide health care for families with children. To qualify, families could earn only up to 200% of the poverty level. Under the new law, families can earn up to 300% of the poverty level and still qualify for SCHIP. Each state has set up their program differently, so programs can vary from state to state.
If you find yourself out of a job and out of health insurance, two recent measures by the federal government may provide many assistance. The first are changes to the COBRA program in which the government could pick up to 65% of the cost of your health insurance premium. The other is the expansion of the State Children's Health Insurance Program. Either of these options could provide short-term assistance with health insurance coverage.
Kevin Kielty lives in North Carolina and writes articles on health insurance. If you are looking for rate quotes on health insurance in North Carolina, visit BCBSNC, also known as Blue Cross NC.
History Health Insurance:Government Measures to Help With Health Insurance....
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history health insurance: How to Get Low Cost Health Insurance in the Commonwealth of Virginia........
Labels: rich_rich |history health insurance:Did you know your credit score could be affecting your chances of obtaining low cost health insurance in the Commonwealth of Virginia? It's true. Many health insurance companies look at a potential policyholder's credit score when determining how much that person will pay for a health insurance plan.
Be careful not to confuse your credit score with your credit history -- they're very similar, but still different things. Your credit history is a entire outline of your financial past -- payments made, credit applied for, credit received, foreclosures, bankruptcies -- you get the idea. Your credit score is an abstract of all of the factors included in your credit history summed up in one number.
So why could your credit score be affecting your chances of obtaining low cost health insurance in the Commonwealth of Virginia?
Well, if you have a poor credit score, health insurance companies may charge you more for a health insurance policy than someone with a good credit score. Large insurance companies may create a specific list of health insurance companies under them that able to offer you a health insurance policy based on your credit score.
If you have no credit at all, i.e., you have no credit score, the health insurance company will treat you in one of two ways: as if you had a neutral credit score, or, specialize their underwriting policy for your health insurance policy based on the fact that you have no credit score.
Remember, a health insurance company could indeed refuse to offer you a health insurance policy -- much less a low cost health insurance policy -- in the Commonwealth of Virginia if they aren't pleased with your credit score. They can not, however, refuse to renew your health insurance policy based completely on your credit score.
To give yourself a heads up, check out your credit score before you begin your search for low cost health insurance in the Commonwealth of Virginia.