Are you unemployed? You may be wondering what your options are. Luckily, there are a few different types of plans that are available to unemployed individuals. In this blog post, we will discuss the best plans for unemployed individuals. We will also provide some tips on how to get the most out of your plan. Keep reading to learn more!
Health Plans in Oregon can help provide a no-cost assistance on achieving the best health insurance for unemployed. Your household size and income, not your employment status, determine what health coverage you’re eligible for and how much help you’ll get paying for coverage.
For those who are unemployed, it can seem like an insurmountable financial burden, especially in times of economic uncertainty. Fortunately, there are plans designed to meet the needs of those without work. These plans are specialized to provide free medical insurance for the unemployed. With these health insurance plans for the unemployed, individuals don’t have to worry about being stagnant due to health issues during their career transition period.
Health Insurance for Unemployed Individuals is attainable.
- Your spouse’s job-based insurance.
Enrolling in a spouse’s or domestic partner’s job-based plan is a good solution for some. For others, the premium costs are too steep. In addition, if coverage through your spouse’s health care plan is out of reach, you can explore new options for more affordable options through your local health insurance consultant.
If the coverage available to you through your spouse’s plan is considered affordable, but you don’t sign up for it, you won’t qualify for cost-saving subsidies on marketplace plans. Generally, an employer-sponsored plan is considered “affordable” if the annual cost for employee-only coverage is no greater than 9.5% of your annual household income. Healthcare.gov offers guidance and tools to help you determine whether a job-based health insurance plan is considered affordable under the law.
- COBRA.
If you’ve just left a job, the Consolidated Omnibus Budget Reconciliation Act (COBRA) usually allows you to keep your employer-sponsored coverage for up to 18 months. This benefit is notoriously expensive, however, because you have to pay the full premium plus an administrative fee; your former employer contributes nothing. Before you lock yourself into COBRA coverage, you may want to compare costs with plans offered at HealthCare.gov.
If you qualify for special enrollment period of 60 days to elect COBRA coverage or buy a new health plan through the Health Insurance Marketplace. If you miss the 60-day deadline, you’ll have to wait for the next open enrollment period to buy a marketplace plan. You won’t be able to choose COBRA after the 60-day special enrollment period ends.
If you do choose COBRA coverage, you’ll get another 60-day special enrollment period after your COBRA coverage ends; this gives you time to switch to an Obamacare plan.
- Marketplace health plans.
The Affordable Care Act (ACA) expanded Medicaid programs and provided a premium tax credit to help make health coverage more affordable, and also required that preventive care be covered without any cost-sharing for individuals who are enrolled in these programs.
Take time to compare features and costs for a variety of plans. Because you are unemployed, you will probably qualify for lower monthly premiums and reduced out-of-pocket costs. This is based on your income and family size. Therefore, if your income is very low, you may end up paying very little — or nothing at all — for coverage. For more information, see the additional resources listed below.
- Medicaid and the Children’s Health Insurance Program (CHIP).
These are government sponsored programs. Each provides coverage which are free or very low-cost to millions of Americans with limited incomes. You can learn the coverage thresholds and apply for these programs through Oregon’s Medicaid or Oregon CHIP office. Find out whether you qualify for Medicaid when you fill out an application at HealthCare.gov.
- Other private insurance plans.
You may purchase the right coverage directly from an insurance company or through a broker; some of these plans may be available outside of open enrollment periods. However, this may be an expensive option with limited benefits, so compare your options carefully.
Frequently Asked Questions:
1. I’m unemployed, is there a penalty for not having coverage?
Yes, there will be a fee for not having coverage regardless of your employment status. However, there are several exemptions from the fee that may apply to people who have no income or very low incomes.
Penalty Exemptions:
- Exemptions are available based on a number of circumstances, including certain hardships, some life events, health coverage or financial status, and membership in some groups.
- You claim most health coverage exemptions on your federal tax return. Some require you to fill out and mail an application to the Marketplace.
- You don’t have to pay the fee for any month you have qualifying health coverage. If you’re uncovered only 1 or 2 months, you don’t have to pay the fee for any month.
2. Am I eligible for health insurance if I am unemployed?
Unemployment does not automatically disqualify you from obtaining health plan. You may be eligible for government-funded programs such as Medicaid or the Children’s Health Insurance Program (CHIP) if you meet certain income requirements. If you are unable to qualify for these programs, you can also look into private plans offered on the health insurance marketplace.
3. How can I find affordable health insurance if I am unemployed?
If you are unemployed, you may be eligible for a special enrollment period on the marketplace. This allows you to purchase a private plan outside of the open enrollment period. Additionally, you may qualify for cost-sharing reductions or premium tax credits to make it more affordable. You can also look into short-term health plans as a temporary coverage option.
4. Are there any options for health insurance if I am unemployed and not eligible for government-funded programs?
If you are not eligible for government-funded programs and cannot afford private health plans, you may be able to find coverage through a community health center or other organizations that provide free or low-cost health services. Some states also have high-risk pools that provide coverage for individuals who are unable to obtain insurance through traditional means. Additionally, you can look into COBRA which is a temporary continuation of employer-sponsored health coverage for certain individuals.
5. How long can I stay on unemployment insurance and maintain my health insurance?
The length of time you can stay on unemployment and maintain your coverage depends on the state you live in and the specific program you are enrolled in. Under COBRA, you can usually maintain your employer-sponsored plan for up to 18 months, but you will have to pay the full premium yourself. If you are enrolled in a government-funded program, you may lose your coverage if your income exceeds certain thresholds.
6. Will my unemployment status affect my ability to get health insurance in the future?
Unemployment should not affect your ability to obtain health plan in the future. However, if you are unable to maintain coverage for an extended period of time, you may be subject to a pre-existing condition waiting period when you do enroll in a new plan.
Local Help At No Cost
Do you have questions about finding health care plans while unemployed? Health Plans in Oregon can help you make sense of all of this new information without cost to you. Let us help you with all your health insurance and Medicare inquiries. Reach us thru 503-928-6918 or send an email to info@healthplansinoregon.com.
