ONE OF THE hardest things about leaving a job is walking away from the benefits package. Once you're out on your own — whether you're starting your own business, working for a small employer that offers no coverage or suddenly find yourself among the ranks of the unemployed — the reality is the same: You must cough up a lot of dough for what will feel like inferior health coverage.
Here's what you have to look forward to: steep monthly premiums, higher copayments, outrageous deductibles and fewer benefits. Moreover, the process can be tedious and downright confusing — which helps explain why there are some 50 million Americans under age 65 who went at least six months without coverage during 2006, according to the 2006 Medical Expenditure Panel Survey.
The key, of course, is to shop around and make an informed decision that you and your pocketbook can live with. This will take some time. Experts recommend you give yourself at least 60 days to examine your options and apply for a policy. There's a lot more to it than when your former employer asked you to check a box electing a managed-care plan or a preferred provider organization
The key, of course, is to shop around and make an informed decision that you and your pocketbook can live with. This will take some time. Experts recommend you give yourself at least 60 days to examine your options and apply for a policy. There's a lot more to it than when your former employer asked you to check a box electing a managed-care plan or a preferred provider organization
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