Six Health Insurance Resolutions to Keep in 2009

The New Year is two months old, and so are the usual resolutions to lose weight, exercise and stop smoking. But according to a consumer advocacy group specializing in health insurance education, there are at least six resolutions you must keep this year to protect your health and well-being – this year, and in years to come.

“If you have a successful career but work in a volatile industry, a company’s single failed investment or financial downturn can impact your future,” said Bob Johnson, president of the Consumers for Competitive Choice Education Fund (C4CC). “Although you may resolve to stick it out, you have to be prepared for the worst, which may mean losing your job and your family’s health insurance coverage all at once.”

Consumers who want to protect their future and ensure reliable health care coverage should immediately resolve to:

1. Evaluate your current situation.

Look closely at your industry. Is it recession-proof? Is your company on stable ground? Your job and your health insurance coverage may be at risk due to job loss, temporary layoff, furlough, or cost-cutting measures.

2. Take a close and realistic look at your financial situation.

If you lost your job, would you be able to afford COBRA coverage to protect your family? A recent Families USA study showed that many Americans would have to pay an unrealistic amount to continue their current health care coverage.

3. Research your options.

First, know that COBRA isn’t your only option. Vow to spend an evening researching individual medical plans. This doesn’t have to be a bridge; it can be a permanent solution to lowering your health care costs while providing the personalized solution that might be best for your family, Johnson said.

4. Find and consult with a trusted advisor.

Many popular insurance companies, including those who may provide your home, auto or life insurance, also can refer you to an individual medical plan provider whose deductibles, coverage and service plans might be right for you.

5. Make a plan today.

Realize that you may not have any advance notice of a job loss. Resolve today to draft a plan that’s right for your family. Know the terminology, the players and make a list of providers to call to set up an individual medical plan that’s right for you, Johnson added.

6. Do not be afraid to put the plan in motion.

Pick yourself up and follow the steps you’ve outlined. Your family’s health and peace of mind is paramount.

Consumers who keep these resolutions will be ahead of the game, now and in the future, Johnson said.

Learn more about health insurance options, or ask questions and get answers at www.simplecoverage.org. A discussion forum is available for people shopping for new coverage or weighing options after a job loss.