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This Web site contains a compilation of more than a thousand consumer finance  columns written by Tony Novak from the 1980s through 2006, updated and reformatted for maximum usefulness today.  New material was added after 2010.

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Laid off in New York

originally posted: 11/22/2006  reposted: 2/18/2011 This post has not been recently reviewed or revised by the author and may be out of date. If you notice an error or are in doubt, please send a new question by email or ask for an update. Email

Q: My daughter was laid off from her job in New York city and I want to help her get health insurance while she lives with me in Connecticut until she finds a new job. The COBRA insurance is so expensive and she is young and healthy. Is there a less expensive alternative?

A: Use your Connecticut address as the temporary residence address since there are no low cost short term medical insurance policies in New York state. However, once a policy is issued in Connecticut, the coverage is valid nationwide including New York City. It is permissible to use your temporary address when enrolling for coverage. Please see, click "Fast Quote" and then select from the listing for the state of Connecticut. For a young healthy woman, the premiums will be about 1/3 of the price of the COBRA insurance. It would be best to select a policy with month-to-month payment to allow for flexibility during the job search. Your daughter might also find the article titled "Surviving a Layoff" to be useful.


More resources:

article: "Surviving a Layoff"