How to Be Covered Under Health Insurance When Changing Jobs

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Just because you're changing jobs doesn't mean you can't be covered by a health insurance policy. Find out how to be covered under health insurance when changing jobs with help from the president of The Stratford Financial Group, Inc. in this free video clip.

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Hello, I'm Jeffrey Ingalls; President of Stratford Financial Group and Stratford Employer Services in Wayne, New Jersey. And right now, we're going to discuss how to be covered under health insurance when changing jobs. There are two ways to continue your health insurance when changing jobs. The first would be to enroll in a conversion policy, an individual policy, a GAP or temporary health insurance policy for the time period between the loss coverage under your former employer and the start date of your renewing coverage under your new employer. The second way to remain covered would be to utilize labor legislation known as COBRA. COBRA provides former employees, their spouse and their dependent children the right to continue their group insurance coverage at group insurance rates. Under COBRA, within 14 days of your loss of coverage or your qualifying event date, you will receive a COBRA notice and election form. You will need to make a formal election by completing the form and returning it to the administrator as listed in the notice. From the point in which you make the election, you will have 45 days to make the retroactive premium payment for whatever time period has elapsed. I'm Jeffrey Ingalls, President of Stratford Financial Group and Stratford Employer Services in Wayne, New Jersey. We can be found online at www.stratfordlink.com and you just watched how to be covered under health insurance when changing jobs. Thank you.

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