Quiting a Job, What Happens to Insurance?

[sellingdog]

This may be a dumb question, but I am liscensed to sell Life and Health, but right now only sell life. I need a health policy, if I contract with a health company, can i get a discount or comissions on selling myself a policy (thus this would be my discount)?

Thanks,
SD

 

[tins]

This may be a dumb question, but I am liscensed to sell Life and Health, but right now only sell life. I need a health policy, if I contract with a health company, can i get a discount or comissions on selling myself a policy (thus this would be my discount)?

Thanks,
SD

Yes, you get paid on policies on youself. Your money is just as good as anybody elses.

 

[Bruce]

Hi All,
New member of this forum and got similar problem like Alex so asking in the same threat. I was insured by my former company and it was a group insurance. I shift job as this company is giving better salary with more benefits. I called my insurance company to update my details, they said as I have left that company ( with which I was insured) so the policy is removed. I there anything I can do to continue that policy? Need help!

Gnerally speaking,

1. Yes, you should be able to continue the insurance you had with your former employer, in accordance with either federal or state law, depending on the size (# eligible employees) of your former employer. Any dependents of yours who were covered under your plan generally have continuation rights as well.

2. Your termination at your former employer should trigger you being notified of your continuation rights, either by the insurance company, your employer or a firm your employer uses to administer their benefit plan. The details of what you need to do regarding electing to continue, how long you may do so and the related cost to you should be included in that notification.

3. Be prepared for sticker shock with respect to the cost you will need to pay to continue health insurance coverage under your former employer. Any and all employer contribution to the cost of the coverage will cease.

Assuming you were hired by your new company as an employee who is eligible for health benefits under their plan, I would suggest you do these things:

1. Talk to the Human Resources/Benefits staff at your new employer. You need to know exactly when your new coverage with them begins. It could be as immediate as the day you start work or it could be as long as several months.

2. Communicate with your former employer with respect to when you can anticipate receiving the details of how to continue your coverage. Do this in writing, ideally by registered mail.

Note the following:

1. Any continuation rights you have as a former employee create an obligation that you be provided notification of how to do so and this obligation is your former employer's, NOT the insurance company that insured you.

2. If you are not comfortable with and, more important, confident with your knowledge of and ability to communicate effectively with your former employer, hire an attorney.

 

[Crabcake Johnny]

Hi All,
New member of this forum and got similar problem like Alex so asking in the same threat. I was insured by my former company and it was a group insurance. I shift job as this company is giving better salary with more benefits. I called my insurance company to update my details, they said as I have left that company ( with which I was insured) so the policy is removed. I there anything I can do to continue that policy? Need help!

With 1st grade grammar and a link to San Antonio gyms in your post I can only conclude that you're just an affiliate spammer.

 

[junkman]

OP, you need coverage when you leave. Everything is covered based on date of service as long as you are enrolled. Most plans have coverage running to the end of month if you term - but not always. Call the carrier if you don't want to tell HR that you may leave.

Your options are Cobra if > 20 employees or state continuation if < 20. Any decent group agent in your state should know what state continuation is.

Next option is individual plan subject to nit picking underwriting - probably not available with a 2 week old baby. Again, check with an agent that knows something - or who will at least look at an underwriting manual.

Final option is state guaranteed issue contract. Again, check with agent that knows details of your state.

Pre-ex will be what you have now as long as you go from group to group - Get a cert letter from prior carrier if you leave. It should come in the mail.

 

[frankQuinn]

If you quit a job and you are able to pay the fee timely, it is fine.

 

[pharma]

Depends on how your employer has setup your group insurance. There's same-day termination or extension of coverage up to the end of the month. Best to check with your HR.

 

[chrisluke246]

I don't think so that there will be any problem if you quiet your current job. Your insurance will still be carry on till the expiry date. As you have the newborn baby now, planning for the child insurance soon can also be good idea.

 

[junkman]

I don't think so that there will be any problem if you quiet your current job. Your insurance will still be carry on till the expiry date. As you have the newborn baby now, planning for the child insurance soon can also be good idea.

Doesn't matter what anyone "thinks". The insurance company pays claims based on the contract for those who are eligible and enrolled.

We know that he and family were enrolled. We also know that he termed employment and is ineligible as an employee.

We don't know how long coverage continues after employment termination. We don't know the group size. We haven't addressed specific state continuation laws, only acknowledged that they exist and vary by state.

The burden is on the employer to notify him of continuation rights. Unfortunately some employers are run by people ignorant of the law and/or incompetent.

The OP needs to find the details and act timely. He also needs to document the answers that he receives and the action he takes. Documentation should include dates of actions and be more than notes on a yellow pad. An email trail is helpful.

Being caught without coverage or having to fight your way back in can be a huge problem that is avoidable if he takes action (and has $$ to pay premium).

He should probably elect Cobra/state continuation and simply not pay if it turns out that it is not needed.