If you’ve lost your job or have chosen to leave your job, you’ve probably also lost your health insurance. And while it might seem like health insurance will be out of your reach now that you’re no longer working, there are very affordable plans for unemployed people. In fact, these plans can cost as low as $47 per month or less! The best way to find these types of plans is by working with an EZ agent, who can compare plans with great rates and coverage in your area within minutes, for free!
If you lose your job, you qualify for what’s known as a Special Enrollment Period, because losing your job is considered a qualifying life event. This means you won’t have to wait for the annual Open Enrollment Period to purchase a plan. Not only that, but you will have many options available to you, whether you would like a short-term plan with a higher deductible, which is generally for healthier people, or are looking for a more comprehensive plan for you and your family.
Your Options
If you’ve lost your job, you have a variety of options for insurance coverage, including:
ACA Plans– You can head to your state’s Marketplace and look for private health insurance. You will have multiple coverage tiers to choose from, each with a different cost-sharing structure. Because of the wide range of plans available, you should be able to find an affordable plan that meets your coverage needs. In addition, you cannot be denied coverage if you have a pre-existing condition.
Joining a family member’s plan– Another option for you would be to hop onto your spouse’s plan if they are working and have insurance. If you lose your insurance, you are automatically qualified for a 30-day Special Enrollment Period to get on your spouse’s employer-based plan.
Medicaid- States look at your current income when deciding if you qualify for assistance from this program. Eligibility varies by state, but the monthly income limits are generally $1,470 for an individual and $3,000 for a family of four.
COBRA– With this program, you can extend your employer’s coverage for up to 18 months. However, it is important to note that COBRA can be quite expensive because you are required to pay your entire premium.
Short-term health insurance– These plans will provide you with quick coverage, since you can sign up at any time, but the benefits are not as comprehensive as those of traditional health insurance. You will have a lower monthly premium and a higher deductible with these kinds of plans, and there is usually a medical questionnaire to qualify for them.
While the price of employer-based health insurance varies, it’s generally fairly affordable for people with families, because your employer usually chips in and pays some money towards your premiums. But the good news is that you might be able to get even more affordable coverage while you are unemployed through the ACA Marketplace.
You can get coverage regardless of your income, and the amount you’ll pay is based on your expected annual income. That means, if your expected income is $0 right now, you could get a plan for as low as $47 a month. In addition, you might also qualify for premium tax credits, which are subsidies that reduce the monthly cost of your health insurance and also give you cost-sharing reductions.
If you have recently lost your job, EZ will help you find an affordable plan to cover your healthcare needs. We will provide you with a personal agent who will compare all available plans in your area, and find one that fits your needs. To get started, enter your zip code in the bar above, or to speak with an agent, call 888-350-1890. Our promise is that we will help you find a great, affordable plan, so you can remain healthy and safe during these hard times. EZ’s services are free of charge because our focus is on making sure that you feel supported throughout your search for insurance, not on making money off of you.
Medicare Supplement plans do not have annual enrollment periods, so it is important to know when to apply for one. The Medicare Supplement initial enrollment period is the time to sign up for a plan. It is important to utilize this period if you need help paying Part B costs, or if you have pre-existing conditions you need covered. During this time, you have guaranteed issue rights. This is your guarantee that companies will cover your pre-existing conditions without extra charge. What most people do not know is that you can also obtain guaranteed issue rights during a special enrollment period.
Must be 65 and already be enrolled in the original Medicare Parts A and B to qualify
Th best time to sign up for a Medicare Supplement plan is during the 7 month period of your 65th birthday. 3 months before your birth month, and the 3 months after.
Best time to enroll
The best time to enroll in a Medicare Supplement plan is during your Medicare Supplement Initial Enrollment period. This six-month period starts on first day of the month that you are both 65 or older and enrolled in Medicare Part B. Throughout this period, you can enroll in any Medicare Supplement plan offered in your service area with guaranteed issue. This means that insurance companies are not allowed to deny you or charge you more due to pre-existing conditions. If you have medical issues or disabilities, it’s especially important to take advantage of this period.
Special Enrollment Period
Guaranteed issue right means that companies must sell you a policy at the best available rate, regardless of your health status and cannot deny you coverage. If you miss your initial enrollment period, you can apply for a Medicare Supplement plan with guaranteed issue rights during a special enrollment period. The situations to be eligible for a special enrollment are:
Your Medicare Supplement insurance company goes bankrupt and you lose your coverage, or your Medicare Supplement policy coverage ends through no fault of your own.
You’re enrolled in Original Medicare and your employer coverage is ending.
You drop a Medicare Supplement policy or leave a Medicare Advantage Plan because the company did not follow the contractual obligations, commits fraud, or misled you.
You have Original Medicare and a Medicare SELECT plan and you move out of your plan’s service area.
You’re enrolled in a Medicare Advantage plan or PACE organization and move out of the plan’s service area, or your Medicare Advantage plan leaves the Medicare program.
You joined a Medicare Advantage plan, and within the first year of joining you want to switch to Original Medicare and Medicare Supplement.
You will run into problems if you try to buy a Medicare Supplement policy outside of your protected enrollment periods. Companies can refuse to sell you a policy, or will only let you buy one if you meet certain medical requirements. If an insurance company does agree to sell you a policy you will need to pay a higher monthly premium. You will also need to wait six months before the plan will cover pre-existing conditions.
A Medicare Supplement plan will help save you money by offering more coverage than Original Medicare.
What it covers:
All Medicare Supplement plans cover at least part of:
Your Medicare Part A and Part B deductibles
Skilled nursing facility costs after you run out of Medicare-covered days
Medicare Part A coinsurance and hospital costs (up to an additional 365 days after Medicare benefits are used)
Medicare Part B coinsurance or copayment
Part B excess charges
Part A hospice care coinsurance or copayment
Blood (first 3 pints)
Additional Information:
After January 1, 2006, Medicare Supplement plans are not allowed to include prescription drug coverage. If you would like prescription drug coverage, you can join a Medicare Prescription Part D plan.
The cost of your Medicare Supplement policy depends on the type of plan you buy, the insurance company, your location, and your age.
A standardized Medicare Supplement policy is guaranteed renewable even if you have health problems, as long as you pay your premiums on time.
People who have a Medicare Advantage plan cannot get a Medicare Supplement plan.
A Medicare Supplement policy only covers one person. If you and your spouse both want Medicare Supplement, then you must each purchase separate policies.
You can buy a Medicare Supplement policy from any insurance company that is licensed to sell one in your state.
Need help deciding if and when you can sign up for a Medicare Supplement plan? Here at EZ.Insure we are dedicated to helping you find the plan that is right for you. You will speak directly with one of our trained agents at any time by calling 888-753-7207, or emailing us at [email protected]. If you want to see quotes now you can put your zip in the bar above to get started. We will help you with any questions or concerns you have, free of charge!
