DEALING WITH JOB LOSS People who have lost their jobs potentially face significant emotional, psychological, financial and physical challenges. It is an unpleasant and difficult situation to be in. Job loss can impact nearly every aspect of a person’s life, from spending habits to self-esteem. It can spark ambition or extinguish it. It can turn job seekers into small-business owners or consultants. How anyone will handle a job loss cannot always be predicted. Most people will need some time to bounce back.
FINANCIAL ASPECTS OF UNEMPLOYMENT Minnesotans can find out how to apply for unemployment benefits by logging on to www.uimn.org . Residents of other states can visit www. careeronestop.org/reemployment for information about unemployment insurance. If applicable, try to get health coverage through your spouse’s employer or your parents. If that is not an option, sign up for COBRA (the Consolidated Omnibus Budget Reconciliation Act), which gives workers who lose their health benefits the right to choose to continue individual or family group health benefits provided by their former employer’s group health plan for a limited period of time under certain circumstances. Be prepared for added expenses because you will be paying the full cost of the insurance without any funding from your former employer. If your COBRA ends or if you do not have the option for COBRA coverage and you are a Minnesota resident, then another option is Minnesota’s online health care insurance exchange, www.mnsure.org .
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