Home > Mom's Life > Work > Career Resources > Practical Concerns When You're Not Working
|

Practical Concerns When You're Not Working

Adding It Up

COBRA stands for the Consolidated Omnibus Budget Reconciliation Act of 1985. It requires most employers with group health plans to allow terminated employees the opportunity to extend their coverage. To learn more about this program, check out www.cobrainsurance.com on the Internet.

When we're employed, we tend to take insurance that our employers provide for granted. Only when we no longer have the coverage do we fully appreciate it.

If you lose your job, your employer should give you information about how to continue your health coverage through a program called COBRA. COBRA allows you to extend your health care coverage under your former employer's plan after you leave your job. Unfortunately, you'll have to pay for the insurance, but at least you'll be covered.

Be sure to check with the human resources department of your company about continuing coverage for you and your dependents.

Many people get life and disability insurances through their employers, in addition to health coverage. If that's the case for you, you may be able to deal directly with your employer's insurance carrier to extend that coverage. If not, you should talk with an insurance agent about getting life and disability coverage through another carrier.



<< Previous: Cutting costs

More on: Family Finances

|

Excerpted from The Complete Idiot's Guide to Personal Finance in Your 40s and 50s © 2002 by Sarah Young Fisher and Susan Shelly. All rights reserved including the right of reproduction in whole or in part in any form. Used by arrangement with Alpha Books, a member of Penguin Group (USA) Inc.

To order this book visit the Idiot's Guide web site or call 1-800-253-6476.


stay connected

Sign up for our free email newsletters and receive the latest advice and information on all things parenting.

Enter your email address to sign up or manage your account.

Facebook icon Twitter icon Follow Us on Pinterest

editor’s picks

get ready for school!

We’ve got your
shopping list,
lunch menu,
and more.

GO

highlights

Join BIC on our mission to save handwriting and Fight For Your Write! Writing helps kids become better readers, boosts their confidence and sparks their creativity. Visit BICFightForYourWrite.com to sign our petition to save handwriting!

7 Fun Driveway and Sidewalk Games for Kids
Looking for classic outdoor games kids can play in the driveway or on the sidewalk, just like the good ol' days? From hopscotch to bubble-blowing contests, there's something for all ages!

Kindergarten Readiness App Wins Gold
Our Kindergarten Readiness app won the Gold Award of Excellence in the educational category at the 2014 Communicator Awards. This valuable checklist comes with games and activities to help your child practice the essential skills she needs for kindergarten. Download the Kindergarten Readiness app today!

Best Sun Safety Practices for Babies
Follow these sun safety practices for babies to ensure your little one stays safe on the beach and on sunny days all year long.