In some cases, you may continue to receive health insurance coverage from the same provider that you had under your employer, even after losing your job. This takes some weight off of you during the time that you are looking for a new job and new insurance. You will be able to receive your insurance just like you were before, you will just be paying more for it. More expensive coverage is better that none!
In Nevada, there is a law like COBRA designed specifically for employees under small employers. The law lets you receive continuation coverage for up to 18 months. Your dependents may be able to receive the continuation coverage for up to 36 months, depending on various factors.
You are a candidate for continuation coverage if you were covered under your old group health plan for 12 months or more. You cannot receive continuation coverage if you quit your job voluntarily, you must have been fired. You must apply within 60 days of losing your job.
Sometimes with COBRA, the employer will pay a share of the premium. With continuation coverage, you must pay the entire premium. You will also be paying a premium that costs 25 percent more than your premium under your old insurance plan.
If you stop paying your premiums, your old plan is cancelled or replaces, or if you become eligible for other insurance, your continuation coverage will most likely be terminated.
Usually your employer will be able to explain continuation coverage to you if you are interested. You can also contact the Nevada Division of Insurance and they can supply you with any additional information about continuation coverage and Nevada’s specific regulations.