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Q: I just lost my job. What are my health care options?

A: First, check to see if you are eligible under a spouse’s plan. If you are older than 65 or have a disability, you may be eligible for Medicare or Medicaid. If not, consider Consolidated Omnibus Budget Reconciliation Act (COBRA), a federal law that gives workers and their families who lose health benefits the right to continue coverage under their former employer’s group plan for a limited amount of time. You will have to pay your plan’s monthly fees plus what your employer paid but that still may be less than private insurance. You can and should also shop around for other group insurance plans. If your former employer’s plan was particularly expensive, you may find it cheaper to sign up for a private plan, but be sure to research your options thoroughly. Whatever you choose, be sure to get yourself insured promptly, as unpaid medical bills are the leading cause of bankruptcy in the U.S.

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