I would like to Quit my Job but I'm not sure if we can Afford Health Insurance.
Answer:
When considering leaving your job, you are smart to be concerned about also leaving your health insurance behind.


If your existing company has a group health insurance policy and is paying a portion of your family’s health coverage, you’ll be in for a bit of sticker shock when shopping for health insurance coverage on your own.

Not only will you have lost the benefit of your employer having paid a portion of the health insurance premiums each year, you will also lose out on the lower prices of group coverage compared to individual coverage.

If you do quit your job, you may be able to continue participating in your employer’s plan under COBRA however you must be eligible and you will pay 102% percent of the premium. If you are eligible and can afford to participate, this coverage will extend for up to 18 months. By then, hopefully you will have a new job with benefits.

If you plan on being self-employed, you may be eligible for group coverage by joining industry or trade associations. In addition, if your spouse works, find out if you can add your entire family under your spouse’s employer’s group insurance plan.
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