| Job Lock |
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An example of job lock would be someone who takes a job, planning to save up money to and move on later, but before this can happen they develop an expensive medical condition. In these circumstances the person is locked to their job as leaving would require being Unemployed and hence without health coverage which can no longer be afforded. It is true that health insurance can be purchased as a private individual, however, not only is it more expensive to purchase in that form, once a person member is known to require expensive coverage insurers will either refuse to cover or set very high premiums and impose many limitation clauses ( Loop Hole s) in the contract. In a looser sense, Job lock may describe a condition where an employee is being paid higher than scale or has accumulated significant benefits, so changing jobs is not a realistic option as it would result in significantly lower pay, less vacation time, etc. |
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