Health Insurance by Life Event
What is the best health insurance for people losing their job?
Losing your job is a qualifying life event that triggers a special enrollment period. You have 60 days to enroll in a new plan. Options include COBRA, ACA marketplace plans, and Medicaid. ACA plans are often less expensive than COBRA.
Key Points
- Losing your job: qualifying life event — special enrollment period
- 60 days to enroll in a new plan
- COBRA: continue employer coverage for up to 18 months (expensive)
- ACA marketplace plans: often less expensive than COBRA
- An independent agent can compare COBRA vs. ACA health insurance costs