Did your Employer Drop Group Health Insurance Coverage?

One of the most common ways for a company to save money is to drop group health insurance coverage. While this may save the company money, what does it do for the employees? The answer to this question is quite simple: it makes them mad! The fact of the matter is that many people rely on their employer to offer health insurance coverage. If they lose this benefit, they will be in a lot of trouble.

So what should you do if your employer drops their group policy? First and foremost, you should find out why. Ask your employer if they plan on getting rid of coverage altogether, or if they will allow employees pay a percentage. Obviously, it is better for you if your company allows you to pay some of the premium instead of doing away with coverage altogether. No, paying for coverage is not something that is fun, but it sure beats having to shop for an individual health insurance policy.

If you are left out in the cold altogether, you will be forced to find your own health insurance policy. Either that, or decide to change jobs. Obviously, changing jobs is a viable option, but not something that you can do in a day. For this reason, you will need to shop for your own health insurance policy. When doing this, keep in mind that your family may be affected as well. If they were also receiving coverage from your employer, you need to purchase a family health insurance policy. This will cost more money, but it is better than doing without insurance.

There is no way of knowing if your employer will drop group health insurance coverage in the future. If this topic does come up, you need to make sure that you have all of your bases covered. As soon as you receive notice that your health insurance coverage will be canceled, you need to start shopping around. The bottom line is that you do not want to go one day without coverage.