I’m Changing Jobs and My New Employer Doesn’t Offer Insurance Coverage.

Finding Independent Health Insurance



Luckily, there are many companies that can offer to insure you independent of your employer. Independent health insurance policies are a popular choice. However, it can be daunting trying to find the right independent health insurance policy for your needs. 

Here are some factors to consider as you contemplate a new employment situation and shop for individual health insurance.

What Will Your New Pay Rate Be? 

Money is an important consideration when switching to an employer that doesn’t offer health care coverage. Most employers that offer health insurance contribute at least something toward insurance premium costs for employees. 

If your employer isn’t offering health insurance, you may be left paying insurance premiums out of your own pocket. Therefore, the pay rate you’ll get at your new job is important. 

If your new job pays more than your previous job, you’ll have extra money to use for independent insurance coverage costs. If your new job pays the same rate or less than your previous job, your insurance coverage costs may have a significant impact on your budget. 

If that’s the case, you may want to talk with your new or potential employer about negotiating a pay increase.

Does Your New Employer Give You Money Toward Independent Health Insurance Costs? 

Some employers that don’t offer health insurance coverage options will participate in a Defined Contribution Plan. A Defined Contribution Plan is a health insurance alternative employers have that allows them to not offer insurance coverage directly.

With a Defined Contribution Plan, your employer gives you a set amount of money each month via payroll. You, as the employee, can withdraw the money in your plan to use toward the purchase of an individual health insurance policy. 

If your new employer doesn’t offer direct health insurance options, ask if they offer a Defined Contribution Plan.   

How is Your Health? 

Your current health picture--and the health picture of your dependents--is another important factor to consider. If you’re in a situation where you need to purchase independent health insurance, you’ll want to assess all of your options. 

It’s not a good idea to simply go with the cheapest insurance plan  you can find. Instead, you’ll want to consider the type of independent health insurance plan that’s best for your situation.

Are you relatively healthy and don’t take any prescription medications? If so, a cheaper health insurance policy with a higher deductible could make sense for you. The same goes if you don’t have any dependents that count on you for health care coverage.

However, what if you do have prescription medications you need? Or if you have a pre-existing condition or impending health procedures to consider? 

What if you have a spouse and kids that depend on you for health care coverage? In cases like these, you may be better off choosing a more all-inclusive health care plan. 

Finding a plan with lower deductibles and copays for office visits and prescriptions will likely benefit you more in these situations than a high deductible plan will. Even though the monthly premiums will be higher, the lower deductibles and out-of-pocket expenses will typically offset the higher premium amounts.   

What Are All of Your Health Insurance Options? 

If you choose to work for an employer that doesn’t offer health coverage, you do have options. Here is a summary of some of those options.

Get or Continue COBRA Coverage

COBRA insurance coverage is part of the Consolidated Omnibus Reconciliation Act of 1985. This act provides insurance coverage for people who are left without insurance due to job loss, divorce or other qualifying events. 

You may already be using COBRA if you were laid off from your previous job. Or, you may qualify to start COBRA coverage. You can learn more about COBRA coverage here. 

Use a Government Health Plan Offered Through the ACA

With the implementation of the Affordable Care Act, the government created government-based health plans for consumers. You do have the option to enroll in one of those plans. 

You can find more information on government-based health plans through the ACA here. 

Find a Private Health Insurance Plan

Another option is to find a private health insurance plan that fits your needs. The insurance experts here at AZ Health Insurance Brokers can help find you the right individual insurance plan for your needs. 

We work with top-rated local insurance companies throughout Arizona in cities such as Phoenix, Flagstaff, Scottsdale, Kingman and more. Simply call us at 602.617.4107, and we’ll help you find the best insurance policy for your needs--at the right price.

Summary

If an employer doesn’t offer health insurance, that doesn’t mean you shouldn’t take the job. As a whole, it can be a phenomenal opportunity to work with an employer for the right combination of compensation and opportunity. 

Just remember to take all things into consideration--including your health insurance needs. Whether you’re on the healthier side or facing medical issues, it’s important to explore all of your health insurance options. 

In today’s world, independent health insurance policies are giving people like you more flexibility in where they choose to work.