For example, if you're hoping to use a layoff as an opportunity to venture out on your own and become self-employed, ask if you can pursue that dream rather than conducting the usually mandatory, formal job search.
Before the COBRA stimulus package, Americans were only allowed to keep their employer sponsored health insurance for 18 to 36 months after they left their jobs either voluntarily or due to a layoff or cutback in hours.
While there is no requirement for workers who have experienced a layoff to participate in workforce training, it may be a good idea to take advantage of the opportunity if it is made available to you.
Other consumers are responsible with credit, but still unable to make payments as they find themselves charging life necessities such as medical bills or groceries after a job layoff.
However, if the layoff happened for no fault of your own and is a result of company downsizing, for example, there are some laws in place to help you until you get back on your feet.
Layoff laws are in place to protect you from the consequences of a layoff as much as possible, allowing you to keep some money coming in and maintaining your insurance coverage.
If there are rumors of layoffs swirling around at or about your company, there is no time like the present to start to put out feelers for a new job and researching layoff laws.
Since COBRA covers you and your family from the date of layoff, you can rest assured that if you need medical care after you leave work, you'll still be covered by the policy.
Although many industries in the country experienced massive layoffs at the end of 2008 to 2009 there were no mass layoff events occurring since the fourth quarter of 2008.
Employers who have 20 or more employees are required to offer an extension of health insurance for their employees and employees' families when a layoff happens.