If your health plan is bought by another, the consequences, in most cases, are generally benign, as the new health plan often simply takes over your old plan's network of doctors and other providers and, at least initially, doesn't fiddle with premiums or benefits.

Still, some states go the extra length to make sure your rights are protected, just in case. Some states mandate that the new health plan is obligated to honor the terms and conditions of the policy that was issued under your previous health plan — but only until renewal time, when your premiums and benefits can be changed.

If the new health insurer actually cancels your group coverage for some reason, your state's continuation and conversion law may kick in. That means you may be able to convert to an individual policy, although it will likely be at higher premiums that the group plan.

Laws vary by state, so contact your state department of insurance to find out your rights.