Health Care Insurance Options when You Leave Your Day Job Kilgore TX

When a person is out of work, he or she operates on a tighter budget. Being faced with a major medical expense without insurance and no income to cover the care is only part of the problem. Read on to know more about this topic.

Bryon Townsend, CFP
2950 N. Loop W., Ste 500
Houston, TX
Company
Title: Managing Director
Company: W.R. Anderson & Co
Type
Investment Advisor Rep: Yes
Registered Investor: Yes
Education
Univerversity of Houston, BBA-Finance
Years Experience
Years Experience: 16
Service
Retirement Income Accumulation Planning,Business Income Tax Planning,Fee-Only Comprehensive Financial Planning,Pension for Highly Compensated Owners,Stock Market Alternative,Reverse Mortgage,Medicare Planning,Health Care Insurance,Retirement Planning,Real Estate Investment Planning,Commission-Only Financial Planning (Full Disclosure),Insurance & Risk Management Planning,Retirement Income Distribution Planning,Education Funding & Financial Aid Planning,Hourly Financial Planning Engagements,Mortga

Data Provided by:
Anthony Tristan
102 Enchanted Hill
San Antonio, TX
Company
Title: Financial Solutions Specialist
Company: Innova Financial Solutions
Service
Life Insurance,Alternative Asset Class Planning,Annuity Ideas & Strategy Planning,Retirement Income Accumulation Planning,Wealth Engineering,IRA, 401k, Roth IRA, QDRO Rollovers,Wealth Management,Medicaid,Retirement Planning,Commission-Only Financial Planning (Full Disclosure),Retirement Income Distribution Planning,Education Funding & Financial Aid Planning,Captive Insurance,401k Rollover From Employer,CD Alternative,Medicare Planning,Annuities,Long-Term Health Care Planning,Estate Tax Planning,

Data Provided by:
Ben Keel Jr ThD RHU REBC RFC & Ben Keel III CFP(R) ChFC CFEd CLU
800 Avenue C
Katy, TX
Company
Company: Financial & Insurance Consultants
Type
Investment Advisor Rep: Yes
Registered Investor: Yes
Years Experience
Years Experience: 24
Service
Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Business Income Tax Planning,Fee-Only Comprehensive Financial Planning,Fee Only Portfolio Management,High Yield Bank Accounts,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Medicare Planning,Health Care Insurance,Retirement Planning,Real Estate Investment Planning,Commission-Only Financial Planning (Full Disclosure),Insurance & Risk Management Planning,Retirement Income Distri

Data Provided by:
Stephen Carter
921 W. New Hope Dr.
Cedar Park, TX
Company
Title: Financial Planner
Company: Ameriprise Financial Services,Inc.
Type
Investment Advisor Rep: Yes
Education
MBA
BBA
Years Experience
Years Experience: 8
Service
Pension for Highly Compensated Owners,Stock Market Alternative,Reverse Mortgage,Medicare Planning,Health Care Insurance,Retirement Planning,Real Estate Investment Planning,Commission-Only Financial Planning (Full Disclosure),Insurance & Risk Management Planning,Retirement Income Distribution Planning,Education Funding & Financial Aid Planning,Hourly Financial Planning Engagements,Mortgage Refinancing,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Alternative Investments,Disability Insurance,

Data Provided by:
Kris Maksimovich
18170 Dallas Pkwy.
Dallas, TX
Company
Title: President
Company: Global Wealth Advisors
Type
Investment Advisor Rep: Yes
Registered Investor: Yes
Education
Missouri State/Finance
University of TX/Finance
Texas Tech/Finance
Years Experience
Years Experience: 25
Service
Medicare Planning,Health Care Insurance,Retirement Planning,Real Estate Investment Planning,Commission-Only Financial Planning (Full Disclosure),Insurance & Risk Management Planning,Retirement Income Distribution Planning,Education Funding & Financial Aid Planning,Hourly Financial Planning Engagements,Disability Insurance,Annuities,Alternative Asset Class Planning,Investment Consulting & Allocation Design,Business Succession & Liquidation Planning,Estate Tax Planning,Asset Protection Strategies

Data Provided by:
James Johnson
8302 Indiana Avenue
Lubbock, TX
Company
Title: Registered Investment Advisor
Company: West Texas Senior Resources
Service
Asset Protection Strategies & Planning,Fee-Only Comprehensive Financial Planning,Medicaid,Retirement Planning,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Retirement Income Accumulation Planning,Hourly Financial Planning Engagements,Medicare Planning,Annuities,Alternative Asset Class Planning,Commission-Only Financial Planning (Full Disclosure),Retirement Income Distribution Planning,Individual Income Tax Planning,Life Insurance,Investment & Portfolio Management,Investment Co

Data Provided by:
John Still
2424 North Pecan
Nacogdoches, TX
Company
Title: Financial Consultant
Company: Still Financial Group
Service
401k Rollover From Employer,Income for Life/ Preserve Principal,Alternative Investments,Life Insurance,Investment & Portfolio Management,Annuity Ideas & Strategy Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Pension for Highly Compensated Owners,Stock Market Alternative,Wealth Management,Health Care Insurance,Retirement Planning,Commission-Only Financial Planning (Full Disclosure),Insurance & Risk Management Planning,Retirement Income Accumulation Planning,IRA, 401k, Roth I

Data Provided by:
Ilan Cuellar
3730 Kirby Drive
Houston , TX
Company
Title: Financial Advisor
Company: LPL Financial, Member FINRA/SIPC
Type
Investment Advisor Rep: Yes
Registered Investor: Yes
Service
Portfolio Engineering,High Yield Bank Accounts,401k Rollover From Employer,Income for Life/ Preserve Principal,Wealth Management,Medicaid,Life Insurance,Investment & Portfolio Management,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Business Income Tax Planning,Fee-Only Comprehensive Financial Planning,Captive Insurance,Life Settlements,Pension for Highly Compensated Owners,Stock Market Alternat

Data Provided by:
Daniel Goodwin
25511 Budde Rd
The Woodlands, TX
Company
Company: Goodwin Financial Group
Type
Investment Advisor Rep: Yes
Education
SHSU BS
Years Experience
Years Experience: 18
Service
Captive Insurance,High Yield Bank Accounts,401k Rollover From Employer,Income for Life/ Preserve Principal,Alternative Investments,Health Care Insurance,Retirement Planning,Real Estate Investment Planning,Commission-Only Financial Planning (Full Disclosure),Insurance & Risk Management Planning,Retirement Income Distribution Planning,Education Funding & Financial Aid Planning,Hourly Financial Planning Engagements,Fee Only Portfolio Management,Wealth Engineering,Pension for Highly Compensated Owne

Data Provided by:
Alton Riddle, C.L.U.
7706 Marinette Drive
Houston, TX
Company
Title: President
Company: Riddle Insurance and Financial Services, Inc.
Type
Investment Advisor Rep: Yes
Years Experience
Years Experience: 37
Service
Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Health Care Insurance,Retirement Planning,Commission-Only Financial Planning (Full Disclosure),Insurance & Risk Management Planning,Retirement Income Distribution Planning,Education Funding & Financial Aid Planning,Disability Insurance,Annuities,Investment Consulting & Allocation Design,Business Succession & Liquidation Planning,Estate Tax Planning,Asset Protection Strategies & Pl

Data Provided by:
Data Provided by:

Health Care Insurance Options when You Leave Your Day Job

Provided By: 

Insurance Options to Consider When You’re On Your Own for Health Care

By Steve Trattner, President & CMO of Cinergy Health

People need to insure their health at all times for different reasons. Experiencing a reduction in income is the most important time to protect oneself from spikes in expenses. American bankruptcies are climbing as a result of both unemployment and medical debt. When a person is out of work, he or she operates on a tighter budget. Being faced with a major medical expense without insurance and no income to cover the care is only part of the problem.

An extended illness or disability brings added expenses, such as physical therapy and expensive prescriptions, and it might even cause the other spouse to take a leave of absence from work. Additionally, without even basic insurance, people tend to put off important preventive care and are less likely to detect an illness at its earliest stages. The consequence is that when an illness strikes, it may be more serious, which may even prevent the person from returning to work. We have to invest in ourselves at all times to open up the best possible health insurance options.

If you lose job-based group coverage, you only have a short window of opportunity to make decisions that affect your health insurance options. Whether you choose to pursue private health insurance or COBRA, you only have 60 days from the point of losing your group health coverage to make a decision. Your employer may be eligible for subsidies that will significantly reduce your premiums for COBRA through December 2009.

Three Options to Consider
When you’re financially strapped, consider three options that can provide a temporary solution to the employment “gap”: 1. High-deductible major medical plans (HDHP); 2. Short term major medical insurance; and 3. Limited medical benefit plans.

HDHPs
HDHPs allow you to get the catastrophic protection that you expect from a major medical plan, but with a very high deductible, say $7,500. You’ll have to pay for most of the care you receive until you reach the deductible, but the premiums are much lower.

Short Term Major Medical Plans

Short term major medical plans are plans that cover you for a short duration of time, such as 6 or 12 months. If you’re out of work at the end of the term, you’ll typically have to re-apply. However, these plans provide a broad range of coverage at a low price by limiting the insurance company’s long-term exposure.

Limited Medical Benefit Plans
Limited medical benefit plans represent a growing segment of the health insurance market and are generally more affordable than traditional major medical plans. These plans reduce or even eliminate your deductibles and shorten pre-existing waiting periods. They are designed to pay for more routine and predictable medical expenses. Without deductibles, you are encouraged to seek care at the first sign of illness rather than putting it off until your situation worsens. 

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