Private health insurance is a plan provided through an employer or a union or purchased by an individual from a private company. According to the latest United States Census Bureau figures, approximately 85% of Americans have health insurance. Approximately 60% obtain health insurance through their place of employment or as individuals, and various government agencies provide health insurance to over 29% of Americans. In 2005, there were 41.2 million people in the U.S. (14.2 percent of the population) who were without healthcare insurance for at least part of that year

For many people, however, this does not boil down to a simple question of affordability. Part of this population might include young and healthy individuals with low risk of serious illness who don't believe that health insurance would be cost-effective. In fact, approximately one-third of these 41.2 million live in households with an income over $50,000, with half of these having an income of over $75,000. Additionally, one third of these 41.2 million are eligible for public health insurance programs but have not signed up for them.

Costs

While people complain of the costs, the costs of not having it are even greater. As a personal injury attorney, as well as an insurance agent, I can tell you that even a minor car accident can deplete your bank account. You can imagine the financial consequences a major illness can do to your financial well-being, bankruptcy.

Your best bet is, generally, group coverage usually provided through your employer. One particular problem associated with purchasing Health Insurance is choosing a plan. Benefits and costs are different from plan to plan. Remember, the least costly premium is not always the best choice. What type of coverage do you really need? Do you want or need the freedom to visit out of network medical providers? Generally, if you're self-employed, you can get a tax break. Questions like these are why you should seek the help of an insurance agent like Keith LePack, Esq. Keith is your insurance agent.

What happens if you lose your job?

As an insurance agent, I am often asked, "what happens if you lose your job?" Congress passed the landmark Consolidated Omnibus Budget Reconciliation Act (COBRA) health benefit provisions in 1986. The law amends the Employee Retirement Income Security Act (ERISA), the Internal Revenue Code and the Public Health Service Act to provide continuation of group health coverage that otherwise would be terminated. COBRA contains provisions giving certain former employees, retirees, spouses and dependent children the right to temporary continuation of health coverage at group rates. This coverage, however, is only available in specific instances. Group health coverage for COBRA participants is usually more expensive than health coverage for active employees, since usually the employer formerly paid a part of the premium. It is ordinarily less expensive, though, than individual health coverage. The law generally covers group health plans maintained by employers with 20 or more employees in the prior year. It applies to plans in the private sector and those sponsored by state and local governments. The law does not, however, apply to plans sponsored by the Federal government and certain church- related organizations. If you have an insurance question, why not ask an insurance agent like Keith LePack, Esq.?  Contact Keith LePack, Esq.  Licensed in New York, New Jersey and Connecticut.