ISA Updates and New Products

Companies all across the country are feeling the crunch of our economic crisis, with millions of people finding themselves without a job, and consequently, without health insurance . Even employees who do not lose their jobs, may be downsized to part time and will also lose their benefits.


It’s not only big investment firms and banks that are laying off people. As of March 2008 the following Wall Street Firms have cut the following amount of jobs:


Citigroup~ 6,200

Lehman Brothers~ 4,990

Bank of America~ 3,650

Morgan Stanley~ 2,940

Washington Mutual~ 2,600

Merrill Lynch~ 2,220

HSBC~ 1,650

Bear Stearns~ 1,550

WestLB~ 1,530

UBS~ 1,500

Goldman Sachs~ 1,500

National City~ 900

Credit Suisse~ 820

Royal Bank of Canada~ 500

Fortis~ 500

Wells Fargo~ 500

Wachovia~ 443

Deutsche Bank~ 370

JPMorgan Chase~ 100


TOTAL ~ 34,463


If your client was receiving health insurance through their job, their employer may be required by law to give them an opportunity to remain on the employer's plan under COBRA continuation coverage. However, they will no doubt be shocked by the high cost of premiums at a time when they no longer have any income.