In the last few years, the job market has been quite sparse, but job loss and what to do for health insurance can be very stressful. Worrying about finding a new job and staying insured are perfectly normal fears, there are proactive measures you can take to alleviate the stress on yourself.
As you are deciding on what to do for health insurance, there are many options available to you and with the information presented, you can decide what is best for you and your situation. This list is not extensive, but it has many of the options that are currently accessible:
- Obtain coverage from your spouse or domestic partner’s employer if the employer covers family members and if they do, job loss / loss of coverage signifies as Qualifying Life Event within 30 days of the event occurring.
- Obtain coverage from the Marketplace under the ACA, you can enroll during a special enrollment period if you lose job-based coverage. Visit healthcare.gov for more information about the Marketplace.
- Continue your specific coverage through COBRA, which gives you the ability to remain with coverage from your former employer if you are COBRA eligible. You will receive a notice from your employer and have 60 days to decide to enroll. Keep in mind, you are responsible for paying full premiums, making it very expensive.
- Getting coverage from state-sponsored programs that can be mini-COBRA plans if your employer had 20 or less employees or conversion policies to convert employer policy into an individual plan.
- Obtain insurance through protections under HIPAA if you meet the following conditions: you previously had 18 months of coverage without a break for more than 63 days, the last day of coverage was through your employer, and you do not have COBRA or mini-COBRA options available.
- Obtain assistance with insurance costs from the Trade Adjustment Assistance Reauthorization Act and Health Coverage Tax Credit, Visit doleta.gov/tradeact/ for more information.
- Determine if you or any of your family members are eligible for Medicaid, The Children’s Health Insurance Program, other state programs or VA coverage, For more information on Medicaid and CHIP programs, visit familiesusa.org/issues/childrens-health/name-that-program.html and www.insurekidsnow.gov. To learn more about veteran benefits, visit www1.va.gov/health/index.asp.
- Obtain insurance in the individual market after trying the options listed above since shopping for an individual policy can be quite expensive.
This blog is supposed to be helpful and informational and not intended to replace advice of a professional because I am not an expert! I hope this shows you that there are many options available to you to hopefully reduce your stress and worries about health insurance. If you need specific assistance, please contact Filice Insurance to guide you through this process.
