Sat. May 18th, 2024

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Lost Job Health Insurance

Lost Job Health Insurance is coverage that helps the employees to meet their health expenses if the coverage they hold from their employer lapses. One of the reasons this could happen is when an employer loses his business or has to shut down some departments. An employee on a health insurance plan would find it challenging to get any health benefits with sudden job loss. An employer may arrange such insurance coverage for his employees to continue to get the health benefits. However, for these outside insurance arrangements, the employees will also have to contribute to the policy’s premium. In most cases, employees are willing to pay the premium as these policies provide them good security on their health coverage if they lose their employment. It is common for most organizations to offer these plans to all of their employees.