Health Insurance Options after Job Loss

Discussion in 'Financial Forum' started by Anonymous, Oct 15, 2011 at 10:24 PM.

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  1. #1 Anonymous, Oct 15, 2011 at 10:24 PM
    Anonymous

    Anonymous Guest

    I was recently laid off and my company is giving me a lump sum payment to use for COBRA. Since COBRA is $1900 a month for a family of 4, I would rather save some or all of the money and find other insurance. I live in NY and my wife is a stay at home mom of 2 kids. What are the eligibility requirements to get insurance that will cover us at low or no cost temporarily until I find another job? Do these plans check only income or assets too? Thanks.
     
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  2. #2 Anonymous, Oct 28, 2011 at 11:26 PM
    Anonymous

    Anonymous Guest

    Find a local licensed insurance agent that specializes in health insurance(brokers with several companies and supplements as well). Get educated and then make an informed decision. Get your own insurance and get off COBRA. If you have a health event(accident or significant illness) while on COBRA, when the time comes to get your own individual health insurance you may be declined or rated up. If you're healthy now, my advice is to get it ASAP.
     
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  3. #3 I Love America, Oct 29, 2011 at 9:40 AM
    I Love America

    I Love America Guest

    Just sign up for Odummycare. I hear it is swell
     
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  4. #4 puru rama, Jan 3, 2017 at 10:05 AM
    puru rama

    puru rama new user

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    If you lose your job and are no longer covered through your employer, you may be able to find affordable health coverage in the Marketplace.

    Marketplace health coverage. If you lose your job-based insurance for any reason, you can buy a private health insurance plan in the Marketplace. This is true even if you leave your job outside of Open Enrollment. When you apply for Marketplace coverage, you’ll also learn if you qualify for Medicaid or the Children’s Health Insurance Program (CHIP).

    What Marketplace plans cover. Plans cover essential health benefits, pre-existing conditions, and preventive care. Most people who apply will qualify for lower costs. You can preview plans with prices based on your income and household size.

    COBRA coverage. If you have COBRA coverage you can keep it. In some cases, you can buy Marketplace coverage instead. If COBRA ends outside of Open Enrollment, you qualify for a Special Enrollment Period.

    Other situations. Learn about your options if you're unemployed, self-employed, or a part-time worker.
     
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