I'm thinking about looking for a new job. What should I know?

In addition to the suggestions already provided in this chapter, there are a few other things to keep in mind if you decide to change jobs or look for a new job.

• Think about the work you would like to do and how your arthritis may affect your ability to do that work. That means being both flexible and realistic. For example, if you've dreamed of becoming a police officer but don't think you have the physical strength it requires, perhaps you could work in another area of law enforcement. For example, you might be able to serve as a police dispatcher. 
   
• Don't ask to see the benefits package during the first interview. But, when offered a job, ask to review the package before giving an answer. Most employers won't mind waiting a few extra hours or a day to get your answer.
   
• Before switching to a new employer's health insurance plan, find out how long it will take before you're covered. There may be a 60- to 90-day waiting period before your health insurance takes effect. It is important not to have gaps in your medical coverage, or you might face a "pre-existing condition exclusion period." A pre-existing condition is a health problem that you had before you joined the medical plan. When this happens, your new plan may make you wait a certain length of time before it will pay the costs of that medical problem.

Keep in mind, however, that under the Health Insurance Portability and Account-ability Act (HIPAA) of 1996, a pre-existing condition exclusion period will not apply to you if you meet the following criteria: 

• You have had medical coverage for 18 months.
   
• You have already met a pre-existing condition exclusion period under a previous plan.
   
• You have not been without health coverage for more than 62 days.

One way to switch jobs but continue your health coverage is to use a federal law known as COBRA, an acronym for the Consolidated Omnibus Budget Reconciliation Act of 1985. This federal law lets you continue coverage under your previous employer's medical plan for up to 18, 29 or 36 months (depending on the circumstances). COBRA can be very helpful when you switch jobs and you aren't eligible to join your new employer's plan for several months. 

COBRA is also very important if you have to leave your job as a result of disability. In that event, you may be able to continue your medical coverage for 29 months. After 29 months, you may be eligible for Medicare, which is discussed in detail under "Government Programs." COBRA generally applies as long as the employer has 20 or more employees. To take advantage of COBRA, you must activate its coverage within 60 days of leaving your job. You also will usually have to pay for the full cost of coverage, plus an additional surcharge to cover administrative costs. But, the cost of coverage is at the employer's group rate. 

If you are thinking of changing jobs, it is very important that you compare all of your new benefits with all of the benefits you may be leaving behind. For instance, if the job you are leaving has long-term disability benefits, does the job you are taking offer similar or better benefits? You might not want to walk away from a job that provides you with 60 percent of your monthly income in the event of disability.

©2001. National Endowment for Financial Education. All rights reserved.

Note: Certain content areas in this material are current as of the publishing, but legislative and regulatory changes as well as new developments may date this material over time. This content is meant to provide general financial information; it is not meant to be a substitute for or to supersede specific professional or legal advice.