People with Job-Based Coverage
If you lose your job-based health insurance, you have 2 main options:
- Enroll in a plan through the Health Insurance Marketplace.
- Sign up for COBRA coverage.
Option 1: Enroll in a Marketplace Plan
If you leave your job for any reason, even if you quit or are fired, and lose your job-based health insurance, you can enroll in a Marketplace plan.
You will qualify for a Special Enrollment Period to enroll and get coverage for the rest of the year. For this Special Enrollment Period, you must apply for Marketplace coverage within 60 days after losing your job-based coverage.
Your coverage can start on the first day of the month after you lose your job-based coverage.
When you apply for Marketplace coverage, you will find out if you qualify for:
- Savings on your monthly premiums, known as premium tax credits, and additional savings on Marketplace coverage based on your income when you use covered services.
- Medicaid or Children’s Health Insurance Program (CHIP) coverage, depending on your income and situation.
You can also create an account to apply for coverage and view available plans and estimated prices based on your income.
Option 2: Enroll in COBRA Coverage
You may be able to keep your job-based health plan through continued COBRA coverage.
COBRA coverage allows you to pay to remain on your job-based health insurance for a limited period after your employment ends, generally for 18 months. Usually, you must pay the full premium yourself, plus a small administrative fee.
To learn about your COBRA options:
- Contact your employer to learn about the available options.
- If you are already enrolled in COBRA coverage, find out about the possibility of switching from COBRA to a Marketplace health plan.
When your employment situation changes, your health coverage options may also change. Learn more, understand your alternatives, and make decisions with your well-being in mind.
Call a High Impacto representative now: 954-947-3603