Fired/Medical insurance?
Posted on Mar 30, 2008 under Insurance Information |If I get fired, when does my company paid health insurance end?
If I quit , when does my company paid health insurance end?
This is the state of Wisconsin
kingkings.com
Insurance Information
March 30th, 2008 at 3:34 am
Other than Corbra- yes, it ends.
When you are no longer an employee of the company — you no longer get the company benefits.
March 30th, 2008 at 3:34 am
most states have cobras. you will lpay for your coverage and it will be expensive. termination is bad but you will still have an option to pay. it can be very expensive.
good luck and hope you get a new job soon.
March 30th, 2008 at 3:34 am
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March 30th, 2008 at 3:34 am
It depends on how the plan was set up with their insurance company. It doesn't matter if you quit or are fired, or laid off - it's usually either the day after your last day of employment, or the last day of the month in which you last worked. But you'll have to ask your HR department that question, no one here knows which way your plan was set up.
March 30th, 2008 at 3:34 am
If your company has 20 or more full time employees then they are required by Federal COBRA law to offer you a group continuation health plan at no more than 102% of the regular group rate for at least 18 months.
If you are healthy then it is usually smarter to purchase an individual health insurance plan on the open market though instead of purchasing the COBRA group plan because the individual plan will be much cheaper (remember your employer will typically not be paying for any of your premiums for the COBRA plan because you no longer work for the employer so you will be responsible to pay for the whole premium and group is much more expensive than individual coverage).
If you are not healthy enough to purchase an individual health plan (or your company has less than 20 full time employees and isn't required to offer you COBRA coverage) then you may be eligible for a guaranteed issue HIPAA individual health insurance plan.
Here is some more detail on both the COBRA laws and the HIPAA laws:
http://www.healthquote360.com/Health_Insurance_Plans/Health_Insurance_Laws_that_You_Need_to_Know.php
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