3 Big Reasons Why People Lose Their Health Insurance

There are many reasons why someone would lose their health insurance. As you could imagine, it’s a pretty scary thought from going to having health insurance, to potentially going bankrupt.

Here are 3 big Reasons why someone who lose their Health Insurance..

1.) Lost a Job/Found a New Job

One of the biggest reasons people lose their health insurance is due to them losing their job or finding a new job. Either way, you that “Employer” is now a “Past” employer. You have the option to carry cobra for 18 months, but it’s usually pretty expensive since the employer will not be chipping in on the premium anymore.

#2.) Divorce

Along with the many other headaches that come with divorce, health insurance is usually one of them. If you or your spouse depend on each other for health insurance through one’s employer, this will probably raise an issue if a divorce were to occur. If children are involved, it probably gets messier.

3.) You Turned 26

A fact that many people may have forgotten about is that children can stay on their parents health insurance plan until the age of 26. Once they turn 26 or (on the 26th birthday), they no longer can stay on their parents plan and have to now find it on their own.

The good news is that there are normally many options for individuals and families who are losing health insurance out of no fault of their own. Always speak with a licensed insurance professional if you have any questions about health insurance.