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Read This For Help If You Have Lost Your Health Care Coverage Due To The Coronavirus

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Written by: Benavest

BenaVest is an Insurance Agency dedicated to providing knowledge, services of Insurances like Health, Life, and Retirement. We want dedicate our time to bringing you the best services possible.

ACA

July 6, 2021

With the novel coronavirus causing more and more unemployment claims everyday in the United States, it is easy to be worried about whether you will keep your job and your health insurance. If you have already lost your job and your health coverage here are a few options you can try.

 

Coverage Options

 

COBRA

If you lost coverage due to your employer laying you off or even if you have decided to leave work yourself, you have COBRA as an option. COBRA allows you to continue your employer provided coverage at the cost your employer paid for you. In other words you can keep your coverage from your last employment but you need to pay for the cost yourself. 

 

This option is better than not having any coverage at all but it is costly. There are plans available through the Affordable Care Act (ACA) that are more affordable.

 

Coverage under the Affordable Care Act (ACA)

A better option than COBRA is an ACA plan. Normally to enroll in an ACA plan you would have to wait for the Open ENrollment Period which spans less than 2 months of the year. However for someone that just lost their coverage due to a loss of employment, they are eligible for a Special Enrollment Period that lasts for 60 days. 

 

There are many different plans available through ACA so make sure to check all the different options available to you through the healthcare Marketplace.Look for plans that cover your preferred doctors and prescriptions. 

 

You may qualify for government subsidies. These subsidies come in the form of tax credits or cost-sharing. The tax credits cover the cost of  a certain amount of your insurance premium. Cost-sharing reduces the prices that you pay for copayment, coinsurance, and deductibles.

 

During these times it is hard to go without health insurance so make sure to follow these tips and get yourself and your family covered.

 

Reference: https://www.ehealthinsurance.com/

For more information about health insurance plans visit Benavest.com

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