Tips on getting health insurance when you lose your job.
There some steps to take if you lost your health insurance after losing your job. Government benefits, charities, non-profits, and private health or dental insurance policies can help the unemployed. Learn about what to do if you were fired, laid-off or lost your job when it comes to health and/or medical insurance.
When losing a job, employers may provide additional coverage or state rules will often determine when your policy ends. If you find yourself unemployed, finding a new health insurance plan should one of your top priorities. It can take time to research your options and make the right choice. But there are tips to follow, and things to do, to get health or dental insurance after you lose your job or were fired or laid off.
Note that some of the options for health insurance (post job loss) come with deadlines. Therefore, it makes sense to get started working on your options right away. What follows are the different options you can consider for health coverage and tips on how to navigate the complex process of regaining it.
Look at possible Medicaid eligibility (even if you don't believe you're eligible)
If you live in one of the states that have adopted Medicaid expansion under the Affordable Care Act (a.k.a. Obamacare) and if your household income is about $3,000 for a family of four (healthcare.gov/medicaid-chip/medicaid-expansion-and-you), Medicaid could help with your health insurance needs. Millions of Americans turn to this federal and state funded health insurance plan after an unexpected job loss or if they were fired. Note that the income limits change yearly and are based on the number of people that live in your home.
Always keep in mind that even if you had a good, middle-class job up until recently, your job loss could depress your earnings sufficiently to allow you to qualify. Medicaid can help the unemployed pay for dental care, prescription medications, immunizations, and countless other health care needs. This government insurance plan can pay most, if not all, of your medical bills as well as dental needs. Even locate a dentist that takes Medicaid near you.
Government health insurance policies for the low income or unemployed
In addition to Medicaid, there are other free or low cost health insurance policies that can be used. They are for the unemployed, poor, elderly, disabled, and others who lack insurance. There are state government plans (Medicaid and others) as well as federal government plans (Medicaid, Medicare, CHIP, etc.).
These tend to be mostly free, but some have minimal costs or deductibles. The options also vary by state, however there are always options such as Medicaid, CHIP, Affordable Care Act, and others that operate nationwide. Find free government health insurance policies.
If you can afford it, think about COBRA insurance plans
COBRA stands for Consolidated Omnibus Budget Reconciliation Act. It is a federal government law that allows workers to retain their health coverage for 18 months after they lose their jobs. The catch is that you need to pay a high premium, usually about $20,000 a year for the whole family. This form of health insurance is therefore very costly, and unfortunately it can be difficult (if not impossible) for the unemployed to cover the premiums.
The total annual cost of COBRA insurance includes both what your employer would have contributed to your insurance, and your own contribution. While most people are unlikely to be able to afford the expense, those who can, should consider it, because it helps them carry on with their current plan, and continue treatment for chronic conditions. Ask your previous employer about COBRA, as they have to help arrange this coverage.
Consider getting on a family member's insurance
You may be able to get on your spouse's health insurance. Alternatively, if you're under 26, you may be able to get on your parents' insurance plan under the Affordable Care Act. Your family should one of the main stops as you consider your options.
The Affordable Care Act/Obamacare allows the unemployed to go onto a plan at any time throughout the year; you do not need to wait for “open enrollment”. This means if you lose your job you can often get onto a family members health insurance policy within a matter of days.
Go over to the Affordable Care Act marketplace for cheap medical insurance
If you no longer have your health insurance from work, and you don't qualify for Medicaid or family (or the other options above), your local (or the national) Affordable Care Act marketplace should be your next stop for dental or health insurance for you and your family. The federal poverty level is high 20K to low 30K for a family of four. If your family expects income that is up to four times this amount, you may be eligible to claim insurance premium subsidies.
If open enrollment isn't an option, your job loss may still help you qualify for the special enrollment period. All you need to do is to submit documentation from your former employer that shows that you've been let go and that you lost your job. It's important to remember, however, that the special enrollment period only stays open for 60 days after your job loss. You need to start the enrollment process right away.
You can prevent having your coverage lapse if you apply far enough in advance of the expiry of your employer's health plan. If you apply after coverage ends, your new coverage will only come into force once your application is completed.
Look into non-traditional health insurance policies
There are different charity, non-profit or private insurance marketplace options out there to provide coverage to people that have been fired or laid off from their job. Examples include the Christian Health Insurance Sharing Insurance Plans or charity type plans. These can often be stop-gap health insurance policies for the unemployed. They should not be long term options as the amount of coverage they provide is minimal and they are not often regulated by states or the government.
Many of these are in effect sharing type plans. This means that if someone has a medical bills, the policy will in effect ask other members to help pay your medical, dental or hospital bills. They are often member run and not run by a business.
When it comes to non-profits, there are several that can help the unemployed pay medical bills. These are one-off type solutions though and are not health insurance. Examples may be Healthwell Foundation, CancerCare Foundation and others. It will take time to get paid, funds are limited, and they come with many restrictions. Find other great alternatives for healthcare insurance.
Think carefully about buying short-term health insure plans
Short-term, affordable health insurance policies can be as cheap as $25 a month. Before you opt for one of these policies, however, you need to be aware that they tend to deny coverage for pre-existing conditions. In addition to that, health insurance providers also tend to offer limited benefits, and to withdraw coverage, should you become seriously ill.
A short term health insurance plan will often offer “bare bones” type coverage. They can be a good stop gap measure for the unemployed, but a short term policy is not a mid to long term solution because of the limited coverage they provide patients. Anyone who loses their job can look into a short term health insurance plan in an emergency, but be vary wary about long term use of them.
Save money on medical, dental and hospital bills
If you lost your job, and your health insure plan, it is maybe even more important than ever to save money. Even if you get a new, affordable (or free government) health insurance, when unemployed it is always a good idea to watch your spending carefully. There are many ways to save money on healthcare.
There are other resources as well. The bottom line is if/when you lose a job, do everything you can to cut back and save money – including on medical bills. Or ask your medical provider for assistance paying those bills, and locate financial resources for paying medical bills.
It's important to keep trying after losing a job
Losing your job can be a terrible blow. A lack of opportunities translates to a real risk of having your health insurance lapse. While you may feel fine and feel healthy, it's important to remember that illnesses often arrive without warning. When they do, they can push people into medical debt when they don't have health insurance. Use they tips and resources to help find health insurance if/when you lose a job.
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