How Long Do I Have To Get Health Insurance After I Quit My Job

If you're like most Americans, you've watched your health insurance costs bound significantly during the past decade. Since 2000, the average American'south health insurance costs accept risen by more than double the rate of inflation. This has caused many major companies to scale back or eliminate the health insurance coverage that they've traditionally provided for their employees. If your employer nevertheless provides you with an bonny health insurance benefit plan, you should consider yourself lucky. In most cases, workers are paying a growing share of their own wellness insurance costs.

Of form, you'll virtually certainly be on the hook for the cost of your wellness insurance policy subsequently yous leave your electric current job. Unless yous're able to negotiate ongoing benefits as part of your severance bundle, y'all won't be able to rely on your employer to continue to pay for your health insurance coverage one time yous're no longer employed. Yous probably won't exist able to negotiate such ongoing coverage unless you worked for your employer for decades or held a position of relative importance within the company. In one case you quit your chore, you lot'll probably take wellness insurance coverage until the end of the month in which your last solar day of employment falls.

Tin can I Reimburse Myself for Health Insurance Costs Through My Company?

Tin I Become Continuing Coverage?

Fortunately, you have several options to ensure that you remain eligible for ongoing coverage. The virtually common of these is COBRA coverage. Enacted in 1986, COBRA is a circuitous law that requires employers to make group wellness insurance benefits available to:

All laid-off employees
Voluntarily-terminated employees

These benefits are bachelor for at least eighteen months from their termination appointment. Once you lot leave your job, you can wait up to threescore days earlier electing to receive COBRA benefits. If yous miss this deadline, yous'll lose your opportunity to practice so. Information technology'due south important to annotation that you'll be responsible for paying the full cost of your COBRA coverage.

If you lot leave your job temporarily, you lot may exist able to continue receiving health insurance benefits until you return. If you're on motherhood or disability leave, your employer is required to proceed to provide coverage nether the Family unit and Medical Go out Human action. Y'all'll go along receiving these benefits until a md clears you to return to work. However, you'll become ineligible for continuing benefits after choosing non to render to piece of work one time yous're able to do so. Depending upon your employer's policies, y'all may really be on the hook for the health insurance premiums that your employer paid during your get out of absence.