This has been people’s silent problem, as an unemployed man/woman or someone who is temporarily off his/her feet, is it possible to be on insurance coverage even while he/she is yet to be employed?
IS THERE ANY HEALTH INSURANCE FOR THE UNEMPLOYED?
Finding health insurance for unemployed individuals can help alleviate the stress of the unknown. Whether one is between jobs or temporarily off his/her feet, it’s important to maintain health coverage to help cut the cost of health care or in the case of an emergency.
No matter one’s situation, Health Insurance Agencies can find the right plan for individuals. They work within budgets and health requirements to find the health plan that can be counted on.
Regardless of whether an individual lost his/her employer-based health insurance or he/she had to cancel his/her health coverage because he/she could no longer afford his/her old plan, there are good options:
Special Enrollment Period
As a qualifying life event, becoming unemployed for any reason makes an individual eligible for the Special Enrollment Period.
For a 60-day period after the day of one’s unemployment, he/she is eligible to sign up for a health insurance plans, even if it occurs outside the Open Enrollment period.
In addition to becoming unemployed, there are several other qualifying life events that can make one eligible for the Special Enrollment period, including:
- Job loss
- Marriage
- Divorce
- Adopting/Having a baby
- Moving to a new area
- Loss of coverage
- Becoming a U.S. citizen
If an individual or someone he/she knows has experienced one of these events, he/she can find a new health insurance plan through Health Insurance companies (e.g Health Markets that works with over 180 insurance providers nationwide). They provide as many options as one needs to find the right plan.
If one is unsure of whether or not he/she have had a qualifying life event, be sure to contact knowledgeable agents.
Lower New Health Insurance Costs with a Subsidy
Once an individual is able to enroll in a new health plan after unemployment, it’s important to factor in his/her new income range. With the Affordable Care Act (ACA), came subsidies that can help lower or even cover the cost of monthly premiums and out-of-pocket costs when you receive service.
Premium Tax Credit is a type of subsidy that can help one lower his/her monthly premiums. He/she can choose to do so by having the credit paid directly to his/her health insurance provider to towards his/her premium, or he/she can claim his/her premium amount when he/she files his/her tax return.
Cost-Sharing Reduction is a type of subsidy that can help lower one’s out-of-pocket costs when he/she receives service with his/her current health plan. As long as he/she is enrolled in at least a Silver-tiered health plan, he/she can receive financial assistance when he/she pays for deductibles, copayments, and coinsurance.
CONCLUSION
No matter what type of plan an individual looking for, he/she can always find options at Health insurance agencies, With over 3,000 licensed agents available at his/her convenience.