Find Affordable Health Insurance While Unemployed
Having no access to healthcare coverage while unemployed is a common problem many individuals face, but there is good news. If you are currently in between jobs or have been unemployed for an extended time, there are benefits available to help you. Taking care of yourself shouldn’t be something that bursts your budget. Check out some of your best options below to see if you qualify.
1. Healthcare.gov (The Marketplace)
If you just lost your job and benefits, you may be able to enroll in coverage through the marketplace, using healthcare.gov as a resource to apply or get help. You only have 60 days for this special enrollment period, so it’s best to get started quickly. Eligibility is based on income and family size, not job status. However, if you have had a significant drop in income and fall between the guidelines, you may be able to get most of your healthcare insurance covered. You will need to provide all sources of income and follow instructions on how to apply. You can also give them a call to have a representative walk you through it.
The marketplace offers different tiers of healthcare coverage that you can choose from if you are eligible. The list goes as follows:
- Bronze
- Silver
- Gold
- Platinum
The bronze plan allows you to pay the lowest monthly cost for coverage, while the platinum plan will have a higher premium. However, if you are able to pay for the platinum insurance, you will pay the least amount when you receive care. If you are under the age of 30, there is another option you may qualify for. The health plan is known as the Catastrophic Plan, which offers low monthly premiums and high deductibles. There are some exceptions for those who qualify, depending on their situation. This plan may also be extra desirable because it allows for three primary care visits free of charge until the deductible kicks in. Find out which type of coverage is right for you.
2. Medicaid and CHIP
When you fill out an application with the marketplace, you will also be notified if you are eligible for programs such as Medicaid or CHIP (Children’s Health Insurance Program). Medicaid is designed to provide healthcare to those with disabilities or limited incomes who qualify. The expanded Medicaid program provides coverage for more low-income people (which could now be you if you have been unable to secure employment); however, it varies state by state, so be sure to see your state’s rules and regulations.
CHIP (Children's Health Insurance Program) is available to children in low-income households that meet criteria, as well as, in some cases, pregnant women who qualify. These are typically households that make too much to qualify for Medicaid but not enough to afford health insurance. Again, you can apply for health insurance through the marketplace, and if you qualify for CHIP, they will notify your state, which will then contact you. CHIP benefits will vary depending on your location, but all cover basic care such as routine check-ups, immunizations, doctor visits, prescriptions, dental and vision care, inpatient and outpatient hospital care, lab and x-ray, and emergency services.
3. Cobra Insurance
Cobra allows the insured (and the additional covered members) to continue their group health coverage for a temporary period of time. COBRA benefits can be offered for up to 18 months, with the possibility of an extension lasting up to 36 months for certain individuals. While this creates little disruption to the insured as far as their benefits are concerned, the cost can be substantially higher than the previous contribution made as an employee. Since your employer will no longer be contributing on your behalf, the costs can be high for some. There may be personal reasons you would want to use COBRA to extend your insurance as it is, but job loss is a special enrollment eligible reason for selecting coverage in the marketplace, so you may want to explore that option as well.
All In All
Keeping up with preventative care and treatment is important to a healthy and balanced life. Unemployment can make it harder to afford healthcare, but it is possible to get the care you need without having to come out of pocket, as one may think. At the very least, qualifying applicants can access care for themselves and their loved ones at a much reduced cost. Explore all options to get the health coverage you need. Visit www.healthcare.gov to apply and see for yourself.