What are Health Insurance Options After Losing a Job?


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Being laid off can be a frustrating experience, especially when you see all of the ways the change in employment will affect your family. Not only are you forced to look for a new source of income, but you also need to consider health insurance options if you are losing coverage through a group plan. Whether you were fired or you quit, there are a few things that you need to know about finding new insurance:

Talk to Your Former Employer about Coverage Dates

Jonathan Nolan, JPN Insurance

In most situations, employers maintain the insurance coverage for a short time after employment ends. Often, this extended benefit is due to the way the calendar affects insurance premiums. You likely have coverage through the end of the month, which means that you might be able to squeeze in a few more appointments if needed. Find out details so that you know when the coverage will no longer be available. Visiting a doctor after the termination of the insurance policy could result in expensive out-of-pocket costs.

COBRA Options for Continued Coverage

CORBA is a program that allows employees to extend insurance coverage after employment ends. But, most people find that COBRA is too expensive to meet the monthly premiums. Ask your employer for details about COBRA costs. Even though it is a high price, it might be worth the expense if you have specific medical needs that should be addressed. In most situations, COBRA can be maintained for as long as 18 months if required.

Find Other Insurance Options

Instead of paying the expensive costs for COBRA, you might look at other insurance options to obtain coverage for your family. Even though open enrollment only lasts for a short time each year, you likely qualify for a special enrollment period due to the change in employment. You only have 60 days to enroll in new coverage after losing your job. Otherwise, you might need to wait until the next open enrollment period.

Since you don’t have a lot of time, it is essential that you contact an insurance expert as soon as possible. At JPN Insurance Services, we will help you explore the health insurance options to find the plan that is right for your family. Call today to learn more about the services that we provide: (951) 443-9925



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