Enroll in coverage with the Affordable Care Act (ACA)

For most states, the Open Enrollment Period to sign up for an ACA plan is November 1 through December 15 (be sure to confirm your state’s specific enrollment timeline). But if you recently experienced a job loss, you qualify for a Special Enrollment Period. Depending on the type of Special Enrollment Period you qualify for, you may have 60 days before or 60 days following loss of coverage to enroll in a plan.

With the Affordable Care Act, you can compare and purchase insurance plans in the Marketplace. Employment status is not a factor for eligibility. Your cost is based on the state where you live as well as your income. You may also qualify for a health insurance subsidy, which helps lower your monthly premium.

Advantages of ACA Insurance Plans

• 10 essential health benefits all Marketplace plans cover
• Flexible plans to fit your specific needs and budget
• All plans cover pre-existing conditions

Receive Coverage through Medicaid

Upon completing your ACA Marketplace application, you may discover that you qualify for Medicaid. Depending primarily on income, Medicaid provides free or low-cost health coverage for individuals, families and children, pregnant women, the elderly, and people with disabilities.

Additionally, some states have expanded their Medicaid programs to cover any individual below certain income levels.

Advantages of Medicaid

• Comprehensive coverage
• Low cost, sometimes free health coverage
• Children’s Health Insurance Program (CHIP) options for children

Extend Health Insurance Coverage with COBRA

Another option might be to continue your health insurance coverage with your previous employer’s health insurance plan. The Consolidated Omnibus Budget Reconciliation Act (COBRA) provides a continuation of group health coverage to workers affected by job loss for up to 36 months. You are eligible for COBRA based on:

• Your group health plan. The law typically applies to health plans sponsored by employers with 20 or more employees, or by state and local governments.
• Your qualifying event. Qualifying events include reduction in your work hours or a job loss for any reason other than gross misconduct which has caused you to lose your coverage. Your qualifying event also determines who qualifies and how long your group health plan must offer continuation coverage.

Advantages of COBRA

• Maintains consistent health insurance coverage from your previous employer
• Provides coverage up to 36 months
• Provides coverage for reduced hours as well as job loss