Top Financial Questions

Can you keep health insurance after being fired?

Probably, yes. You'll probably be eligible for either COBRA continuation (if your employer has 20+ employee) or state continuation coverage. Essentially, this means that you will keep the same benefits as you had while working, but you'll have to pay the premium yourself. If you're healthy, though, you may want to consider buying your own, individual health insurance plan, because doing so will probably save you money.

Individual plans are, for most folks, less expensive (because they don't have to cover things like maternity, etc., they don't have to "take" everyone, & they are, typically, not subject to as many state & federal "mandated" benefits). Also, you can choose a plan that "fits" you better than the more common "one size fits all" of a group plan. Here's some tips: 1- Stay with "brand name" insurance companies, like Blue Cross, Aetna, Humana, etc.

There are a lot of plans around that look good & cost less, but remember - you get what you pay for. You don't want to be "stuck holding the bag" because you tried to save a little money. 2- Consider a plan with a higher deductible ($2,500 - $5,000); you'll really lower the monthly cost (which is a "fixed" expense you have to pay) but still get the 2 benefits you'll use the most: doctor and drug copays (for example, $35/doctor visit and $15/generic Rx). 3- Find a local broker to help you.

Legally speaking, is there anything I can do about a former employer botching my insurance coverage?

You want a civil lawyer. Having a claim due to lack of coverage, due to a mistake on the employer's part, is called "employment benefits liability". It is actually an optional insurance coverage on most business insurance policies. Can you collect? Maybe, if your former employer isn't broke. But definately see a lawyer.

Seeking good pet insurance (for a dog). What pays the most and fastest if there is emergency? Serious only.?

Seriously - ask your vet. Pet insurance isn't true insurance, and it doesn't pay your vet FOR you - you still pay the vet, and then submit the bill for reimbursement. Me, I have a dog and three cats, and do rescue work, and *I* don't think pet insurance is worth it.

Do you have to tell your spouse if you took out LIFE INSURANCE on yourself?

No, you don't. But you should tell SOMEONE, so that when you die, they know to file a claim. Insurance companies have no idea you've died, until/unless someone files a claim with them.

Does my employer have to provide health insurance to me if I work 40 hours a week?

No. No employer in any state is required to provide you with anything besides workers compensation coverage. "Several people" have no idea what they are talking about. There is no such law - not in any state, and not on the federal level, either.

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