I'm losing my health insurance; what can I do?

Help! I'm Losing My Health Insurance.

Many seniors face the harsh realities of losing their health insurance. It is a difficult time; not only because of the transitions required, but also seniors tend to have more physical ailments, making health insurance a necessity. If you are between the ages of 50 and 64 (most seniors receive Medicare at age 65), and are losing or have lost your health benefits, there are some things that you can do.

Check into a COBRA (Consolidated Omnibus Budget Reconciliation Act of 1985) benefits. COBRA is a Federal law that will help you receive your benefits for a longer time, typically for at least a year or more, while you look for other coverage.

You may be able to change your group health insurance policy to an individual plan. Check to see if this is an option.

You may qualify for insurance under some organizations that you already belong to: look into your past professional organizations, social or community based organizations, as well as any fraternal organizations and see if they provide health insurance, for instance, the AARP offers health insurance.

HIPAA (the Health Insurance Portability and Accountability Act of 1996) helps to ensure that your insurance rights are protected when moving between health insurance plans.

If you have lost a substantial amount of income, apply for Medicaid.

Retirement Planning Frequently Asked Questions

What are the advantages of a Traditional IRA?

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Can I take a penalty free distribution from my Traditional IRA to use for the purchase of a home?

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Why would I need a Financial Planner?

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How can I find out if I am eligible for Medicaid?

How do I apply for Medicaid?

I'm losing my health insurance; what can I do?

Will insurance cover long term health care expenses?

What should I look for in a Long Term Care insurance plan?

When should I purchase Long Term Care Insurance?

What is a tax qualified Long Term Care insurance policy?

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I have Medicare; Do I need Long Term Care insurance?

When should I begin planning for retirement?

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What should I look for when choosing a Financial Planner?

How can I use benefit calculators to plan for my retirement?

Am I ready to retire?

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How can I fund my Roth IRA?

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Should I be concerned about inflation when investing for retirement?

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Why is the age of retirement rising?

Will Social Security be enough for my retirement?

Can I receive Social Security benefits if I go back to work after Retirement?

What is the age for full retirement?

What should I do about Private Accounts?

Is there such thing as the Notch?

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