Losing your job can be a stressful and overwhelming experience, especially if you rely on your employer for health insurance. However, there are several options available to help you obtain health insurance even if you’re not currently employed. Here are some ways you can get health insurance without a job.
Medicaid is a state-run program that provides health insurance to people with low income. Eligibility for Medicaid varies by state, but if you meet the income requirements, you may be able to obtain coverage at little or no cost. You can apply for Medicaid through your state’s Medicaid agency.
COBRA stands for the Consolidated Omnibus Budget Reconciliation Act, which requires employers with 20 or more employees to offer continuation coverage to employees who lose their job. This coverage allows you to keep your employer-sponsored health insurance plan for up to 18 months after your employment ends. However, you will have to pay the entire premium, including the portion that your employer used to cover, plus a 2% administrative fee.
Health Insurance Marketplace
The Health Insurance Marketplace, also known as the Obamacare Marketplace, is a government-run website that allows you to compare and purchase health insurance plans. You can enroll in a plan during the open enrollment period, which usually runs from November to December each year. You may also qualify for a special enrollment period if you have a qualifying life event, such as losing your job or getting married.
Short-Term Health Insurance
Short-term health insurance plans provide coverage for a limited period of time, usually up to 12 months. These plans are designed for people who need temporary coverage, such as those who are between jobs or waiting for employer-sponsored coverage to begin. While short-term plans may be less expensive than other options, they also offer less coverage and may not cover pre-existing conditions.
Losing your job doesn’t have to mean losing your health insurance. There are several options available to help you obtain coverage, including Medicaid, COBRA, the Health Insurance Marketplace, and short-term health insurance. Consider your options and choose the plan that best fits your needs and budget.