Millions of people have lost their jobs as a result of the coronavirus pandemic. With their jobs, these people have also lost their health insurance. This is particularly stressful at a time when we are facing a serious health crisis. You do have some options, however, if you have lost your health insurance.
Get on Your Family Member’s Insurance
Losing your job may be a qualifying event for the purposes of jumping on your spouse’s insurance (or your parent’s insurance if you’re young enough). You must make sure you make a move within 30 days of losing your job. However, if you are all on your insurance, then you may need to wait until open enrollment to get insurance through your spouse’s employer.
COBRA stands for the Consolidated Omnibus Budget Reconciliation Act. It allows you to remain on your employer’s health insurance for up to 18 months after you lose your job. You have to sign up within 60 days of losing your job. The downside to COBRA is the cost. You usually have to pay at least 100% of the premiums for your health insurance. The upside is you can keep your current network of doctors.
Affordable Care Act
If you lose your health insurance, you can immediately sign up for coverage under the ACA. You have 60 days to do so. Be sure you have documentation that you lost your coverage. ACA plans often have high premiums, but you may qualify for a federal subsidy based on your income. This can bring your cost way down. Under a new law, all holders of ACA plans are eligible for free coronavirus testing and screening.
If you’re eligible, you should consider applying for Medicaid. Medicaid is available for low-income and disabled people. The requirements vary by state. For a single person household in Florida, the income requirement is below $12,490. You can apply for Medicaid at any time, and there are no out-of-pocket costs for most services.
Contact An Experienced Attorney
If you have questions about your healthcare coverage, we can help. Gregg Goldfarb has been helping Floridians for over 20 years. Contact us online or call us at 305-374-7000 to schedule a free consultation.