Working with multiple companies and health insurance

[ChristineAdrianaRN, BSN, RN]

Hey all. I've had many traveling friends say that they work with two or three companies to be able to get the assignments they want. I don't think they are getting insurance through the companies. I'f you are getting your insurance through your employer, how can you bounce back and forth and keep your insurance consistent? I wouldn't want to start building up a deductible, then lose my insurance because I take an assignment with another company, and then have to start fresh.

I'm feeling like I would be better off widening my pool of options (that, and the other companies I talked to keep calling me to see if I want to take my next assignment with them!) but I would like my insurance to stay the same. Is my only option to get my own private health insurance?

[NedRN]

You can COBRA any employer's insurance for up to 18 months after you leave them. The exception is small employers with less than 20 employees.

Anytime you change employers, you are also eligible to get insurance from either your state healthcare exchange (if your state has one), or the federal healthcare exchange.

Finally, you can seek private insurance on your own, or not get insurance. The penalty for not having insurance in 2015 is a minimum of $325 to 2% of your yearly income.

[ChristineAdrianaRN, BSN, RN]

Thanks, Ned!

[michlynn, BSN, RN]

You can COBRA any employer's insurance for up to 18 months after you leave them. The exception is small employers with less than 20 employees.

Anytime you change employers, you are also eligible to get insurance from either your state healthcare exchange (if your state has one), or the federal healthcare exchange.

Finally, you can seek private insurance on your own, or not get insurance. The penalty for not having insurance in 2015 is a minimum of $325 to 2% of your yearly income.

Can you expand on the COBRA thing? I attempted to do some research and it kind of got confusing. Do you have to apply for it or would I have to tell my recruiter since they are the ones covering the insurance?

[NedRN]

All covered employers are required to notify you in writing after you leave employment and then you have a certain amount of time to opt in, and then even longer before you have to catch up on premiums. It is an excellent loophole that seems designed for travelers as you can let large gaps go in between assignments, and only opt in if your medical costs are higher than your premium. PanTravelers has the best article on the details of how that works for travelers.

Mind you, insurance is expensive. You are paying for it, but the real cost (which is the COBRA cost) is often a bit of sticker shock since much of the cost is usually hidden by the employer.

[ChristineAdrianaRN, BSN, RN]

My company pays my premiums...which seems nice, on the surface. Do travel companies provide an additional stipend in lieu of covering insurance premiums? (I emailed my recruiter to ask, but wondering what other companies do)

[NedRN]

Some can be talked into that if you can provide proof and receipts. It should be a non taxed reimbursement. Sadly, and for reasons I don't understand, a lot of agencies provide only a small stipend if they don't provide the insurance. Perhaps something to do with their underwriter rules - if so, since prior conditions are no longer an issue, that may be changing.