Layout Image

Options for Renewing Your Insurance

Losing a job can be devastating enough without worrying about the consequences and repercussions, such as losing your insurance. Even with your health insurance, people are constantly monitoring and hiding their health status in fear of losing coverage. Fortunately, for Nevada residents there is a sort of an insurance “safety net,” because the state says that insurance must always be renewable.

Your health insurance cannot under any circumstance be terminated because you get sick or injured. All health insurance in Nevada is guaranteed renewable, and this is probably your greatest health insurance protection.

If you leave your job, you can probably keep your old provider’s coverage for a certain amount of time. This is called the COBRA coverage or state continuation coverage. Again, this is a good protection for when you are between jobs or out of work. There are also limits on what you can be charged for this service. Remember that COBRA is temporary coverage.

If you lose group insurance, you are qualified to obtain a conversion policy. This is a guarantee although it does not have limits on cost and may be fairly expensive.

If you have federal eligibility, you’re guaranteed the right to buy individual health insurance from any company that sells the plans in Nevada. They must offer you at least two plans and must stay within limits on coverage offered under the plans and cost of the premiums.

One of the great things about group plans is that they can hardly ever be denied. They cannot be rejected on basis of health, age or any other factor that might predict the use of health services for any of the members in your group. This regulation is called a guaranteed issue. Also, if you are a small employer, there are restrictions on the costs that may be based on these same characteristics.

If you have a modest or low income you may be a candidate for subsidized health coverage. The Nevada Medicaid program offers free health coverage for pregnant women, families with children, those with disabilities, the elderly and people with low income.

One of the concerns of parents with limited funds is lack of insurance for the children, even if you yourself do not want to spend money for insurance on yourself. To protect children under the age of 18 years, you may be qualified to cover your kids by the Nevada 4 check up plan.