Insurance Curator There are a few things to consider when medical insurance and unemployment collide. First, you may be eligible for COBRA continuation coverage, which allows you to keep your employer-sponsored health insurance for a limited time after leaving your job. Second, you can sign up for a health insurance plan through the Marketplace, which offers subsidies to help make coverage more affordable. Finally, to get medical insurance when unemployed you may be able to get Medicaid coverage if you meet certain income requirements.
COBRA
COBRA continuation coverage can be a lifesaver when you lose your job and health insurance. It allows you to keep your employer-sponsored health insurance for a limited time, usually 18 months. The downside is that it can be expensive, since you have to pay the full premium yourself. But if you’re healthy and don’t need much in the way of medical care, it could be a good option.
Marketplace
If you don’t want to or can’t afford COBRA continuation coverage, you can sign up for a health insurance plan through the Marketplace. The Marketplace offers subsidies to help make coverage more affordable. You’ll need to fill out an application to see if you qualify for a subsidy. If you do, you’ll be able to choose from a variety of health insurance plans.
Medicaid Coverage
If you have a low income, you may be eligible for Medicaid coverage. Medicaid is a government-sponsored health insurance program that provides coverage for low-income individuals and families. Each state has its own eligibility requirements, so you’ll need to check with your state’s Medicaid office to see if you qualify.
Conclusion
There are a few options to consider for medical insurance when you’re unemployed. COBRA continuation coverage, the Marketplace, and Medicaid are all possible choices. You’ll need to evaluate your own situation to see which option is best for you.