You might ask your company HR department about what your different coverage options are... Look at switching to a higher deductable policy like an HSA... Switch to that policy before leaving and lock in a lower monthly rate for your insurance... Take a look at the HSA rules and tax savings... Message Edited by krummelhart on 02-07-2010 01:52 AM

Not sure why my post was unlinked... it was perfectly relevant.  In any case, good luck in your endeavors !

@NicoleD, I think your advice is great, and thank you for providing that information. I recently was laid off as well, and I faced mounting insurance costs, but COBRA was - at the very least - able to temporarily cover me while I was searching for options for my new small business endeavor.    I think you may have failed to mention one thing, in particular, which I think newzee will find helpful as well. Perhaps more important than maintaining health insurance coverage while unemployed is auto insurance coverage. Few people realize that a lack of car insurance could lead to higher rates down the road.  When I lost my job, I automatically had to look for options that were more affordable.  I didn't realize this, but apparently certain occupations have what are called 'occupational discounts' [see the occupational auto insurance discounts section here]. I was able to cut my rates significantly - but, more importantly, by maintaining my coverage I was ensuring that my coverage would 'lapse,' which means that - down the road - my premiums won't go up. I hope this advice has been helpful! Feel free to chime in if you think you have any further advice. I just thought I'd put in my two cents.    ---This post has been unlinked. Read about Community Best Practices here.   Message Edited by ChristineL on 02-01-2010 01:09 PM

newzee - According to the Department of Labor's FAQs about COBRA (Consolidated Omnibus Budget Reconciliation Act) coverage, employees are eligible for continuing coverage if one of the following qualifying events is applicable: Voluntary or involuntary termination of employment for reasons other than gross misconduct Reduction in the number of hours of employment Based on the information you provided, it appears as though you are eligible for continuing healthcare coverage under COBRA, however, it is important to note that coverage usually ends after 18 months from the termination date. (There are possiblities for extensions under specific circumstances.) If you considered this as a method of long-term healthcare for you and your family, please note the 18 month drop-date and check with your previous employer for the details regarding your specific situation. COBRA does offer Self-Employed Health Insurance Coverage. You can get a free quote on the COBRA website.