Daniel Rodriguez
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Chapter 7 bankruptcy
If your employer files for Chapter 7 bankruptcy, you no longer have any insurance coverage through them. If you have unpaid claims, insist that the insurance company provide you with a proof of coverage statement before the company closes. If you have money in a healthcare flexible spending account, contact human resources to ensure that you will be compensated for those funds.
Chapter 11 and still employed
Chapter 11 bankruptcies allow companies to reorganize, and you may be able to keep your insurance coverage. It is up to how the employee files their reorganization plan with the courts. If they choose to drop insurance coverage, they must give you 60 days' notice, giving you time to find new insurance, get added to your spouse's plan or make another choice.
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