What if I lost my Health Insurance due to job status change? First, just know that you have options.
If you lost your job and were on a group plan: You now have 60 days to find new coverage. If you would like to get a Marketplace Plan (aka Obamacare) then you have a special open enrollment and as long as you choose a plan within 60 days of losing your group plan. Depending on your new income (or non-income) status, you might even qualify for a government subsidy to help you pay for your Marketplace plan.
If your job is offering COBRA- STOP! This might not be your best option. COBRA does not take into consideration your new income level and most of the time COBRA is your most expensive option.
What if COBRA is too expensive, and the marketplace plan is too, because of your overall income? If it is also too expensive, I do have other options. There are some great options that are about half the cost of both COBRA and Marketplace!
If all of this sounds confusing, just reach out to me and I will gladly walk you through the maze of your options.
Which plans cover COVID-19? That is a great question right now, and I know people that are really concerned about this virus.
What if I am hospitalized or have to be in the ICU for weeks. What if? Never before in our lives did we have to worry so much about our health and wonder if we have the right coverage.
- The policies that cover pre-existing conditions will be the Marketplace (aka Obamacare) or COBRA. So, if you currently are dealing with a major illness or even COVID-19, both of these plans will cover you right away.
- If you have no pre-existing condition, but would just like to save money, then Short Term Medical plans would be a great option.
These plans will cover COVID-19, if you get it in the future, but as of now the cost will be about ½ of what you will pay for COBRA or the Marketplace. Short term medical is a good option for low cost coverage. It’s always better to be safe and covered with an insurance plan.
If all of these insurance options are overwhelming and confusing, that’s where I come in! Just reach out to me and I will make it very simple.