Changing Careers and Health Insurance - CareerAlley

Changing Careers and Health Insurance - CareerAlley We may receive compensation when you click on links to products from our partners. A career change oftentimes leads to a healthcare change when you are in-between jobs. And, although you might have an offer for a better position career-wise, it might not have the same health benefits as your current line of work. In order to help you make a healthy choice, here are just a few things to consider about your healthcare coverage when changing careers: Employer-Based Health Insurance Statistics When employers offer their workers health insurance coverage, it not only raises the caliber of employees applying for open positions, it also ensures a healthy, more productive workforce. Because of this, more and more employers are offering health insurance plans to their workers. In fact, the Bureau of Labor Statistics performed a national compensation survey in 2013 that took a look at the employer-based health benefits of both small and large businesses. Roughly 57% of small businesses in the United States with 49 or fewer employees offer health insurance plans to their workers. Likewise, a surprising 94% of large businesses with 500 employees or more offer health insurance plans to their workers. All numbers aside, if youre in-between jobs, there are some things to consider when it comes to your healthcare coverage. Gap Coverage There are a number of things to consider when you are in-between jobs and at the top of the list is your healthcare coverage. When it comes to health insurance considerations for job seekers, gap coverage or short-term medical coverage should be a priority when you are transitioning into a new career. Although the Consolidated Omnibus Budget Reconciliation Act allows you to continue health insurance coverage through your current employer, you may not be eligible depending on your circumstances. This is where short-term medical coverage comes into play. Short-term coverage fills in the health insurance gaps while you are in-between jobs. Many health insurance providers offer short-term coverage up to 11 months and, whether you are changing jobs, waiting for new coverage to begin, or currently unemployed, short-term insurance ensures you never have a lapse in coverage. Factors to Consider With Individual Health Insurance Whether you are in-between jobs, you work freelance, or your current employer doesnt offer health insurance coverage, there are a number of factors to consider when choosing an individual health insurance plan. For starters, you need to figure out exactly how much you can afford to spend. Although lower monthly premiums are attractive, they usually come at the cost of higher deductibles. And, as for deductibles, you also need to know what your out-of-pocket expenses are for everything from routine visits to ER visits. In addition, you also have to figure out which network has the doctors you want and if the participating hospitals are nearby. Questions to Ask Your Future Employer Not all employer-based health insurance plans are built the same, so its important to ask your new employer about your coverage type. Health insurance usually doesnt begin the day you start work, so you need to ask when your new coverage starts. Likewise, if you have a preexisting condition, you need to bring it up with your employer. Although you wont necessarily be denied coverage through your new employer if you have a preexisting condition, the circumstances of the coverage may change. By keeping in mind the information above, youll put your health first while in the process of changing careers. About the Author: Adam Groff is a freelance writer and creator of content. He writes on a variety of topics including personal health and small business. This is a Guest post. If you would like to submit a guest post to CareerAlley, please follow these guest post guidelines. Good luck in your search.Joey Trebif