With the recent downturn in the economy, more individuals than ever before are searching for online health insurance information because they have lost their health insurance coverage provided by their employer. Individuals and families that have lost their health insurance or will lose their employer health insurance have options.

Millions of people over the past several years have lost health insurance provided by their employers after losing their jobs, having their hours reduced or being laid off. People who are unsure what to do next should search for online health insurance information on the topic. There is plenty of information on what to do and what not to do after losing health benefits.

In most cases, individuals who work for an employer that employs more than 20 employees will be able to purchase extended coverage of up to 18 months as required by the Consolidated Omnibus Reconciliation Act (COBRA). Individuals who qualify for SSI disability may be able to extend their coverage for an additional 11 months. Unfortunately, not every employee will be able to purchase extended COBRA coverage as many people work for employers with less than 20 employees or for companies that have gone bankrupt or are going out of business. Individuals who are not able to extend their coverage under COBRA will need to purchase their own health insurance or find another job that offers health insurance benefits.

Individuals who opt to extend their health benefits under COBRA will have 60 days to decide whether they want to extend their coverage under COBRA. The out-of-pocket premiums will be quite expensive, but much less than if the individual purchases his or her own policy. Individuals who are facing loss of coverage or who have already lost their health benefits should take the time to do some research online and find a policy that can be purchased at a lower premium in comparison to what they will pay under COBRA. In addition, individuals should weigh the pros and cons of choosing another policy versus extending their benefits under COBRA.

Another thing that individuals who have lost or will lose benefits should do is try to find another job that offers health benefits. Many people have avoided lapses in coverage simply by finding another job. The main benefit of finding a job that offers benefits is that people will not have to pay out of pocket for insurance.

Individuals who have lost their employer health insurance benefits or will lose them should try to extend them under COBRA if they are unable to purchase an affordable health insurance policy on their own or find another job that will offer full health insurance benefits.