Health Insurance if laid off or Going Independent Contracter

J

Ja Lan

Registered Users (C)
Folks,

I have GC. Things are not going that well with my company. It may go bust. So I may be laid off. I am also exploring the option of becoming an independent contractor. How do I take care of Health insurance for me and my family ?? Any help would be greatly appreciated.

TIA

JL
 
No Title

If you have heath insrance with your current employer,
that insurance company is required by law to send you
a letter in which they specify your oprion to continue
with them. Usually You can get better rates by continuing
with them than going to a different insurance company
 
No Title

Your former employer should give you Cobra in case you had
health insurance with them.

If u go independent, you can buy health insurance.
Search the net. Find out from CPA whether by filing S-Corp,
can u deduct insurance as expense.

Try IEEE.
 
Thank you JoeF; Folks I am paying $ 295 per month.........

My company increased Health Ins payments for me to aroung $295 per month which includes Dental. I have to do research to find out how that compares to other Insurances out there. I would tend to believe that the helath insurance offered by an Employer is most of the times better than the ones I pick and pay on my own.

Any thoughts

JL
 
No Title

I think that the best approach for you is to enquire around. Sometimes you can get health insurance through your credit union, car insurance company.

Some companies, including mine, cover health 100% of insurance premiums for the employee. Adding familly members costs between $100 to $300 depending on the number of familly members and benefits. A friend who was layed off was paying $400-$500 to continue the insurance coverage of the company.

The above is not very solid data since I did not shop for health insurance recently.

Good luck and keep us posted.
 
No Title

The best insurance is to control your diet and exercise.
I see so much astonishing laziness among the immigrants toward
exercise. In gyms, I hardly see anyone with an
immigrant\'s look. Many immigrants, especially those
who are from third world countries, still consider
overweight as a token of health and wealth. When they
meet, they often say: "Good to see you getting heavier":)

Also there are much more smokers among immigrants than
among Americans in terms of proportion.
 
independent contractor?

Is independent contractor, the best way
to accept contract jobs?
I have so far worked full time as a regular employee,
and due to adverse circumstances, am considering contracting jobs.

Indepnedent contractor means, you are self employed.
this means no unemployment benefits, if you
cant find job.
Also there are complications when you try to buy a house,
(you have to show two years of independent contracting history
to get mortgage approval)
Further the tax dealings may be at least not straight forward.
 
is there any other options?

the other two alternatives are
1)incorporate yourself,

which could be quite complex and involving.

2)work for a temp agency.

which one may not want to do
after having the independence of a gc.
 
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