Health Insurance When You Lose Your Job

Losing a job is stressful enough without the added worry of losing your health coverage. The good news: you have options, and losing job-based insurance almost always qualifies you to get new coverage right away. Here's what to know.

You qualify for a Special Enrollment Period

Losing employer coverage is a qualifying life event, which opens a Special Enrollment Period — typically 60 days from the date your coverage ends — to enroll in an ACA marketplace plan. You don't have to wait for Open Enrollment.

Your main options

1. ACA Marketplace plan

For most people, this is the best value. Because your income may have dropped, you could qualify for significant premium tax credits that make coverage far more affordable than you'd expect. This is often much cheaper than COBRA.

2. COBRA

COBRA lets you keep your existing employer plan for a limited time — but you pay the full premium yourself, including the portion your employer used to cover, which makes it expensive. It can make sense if you're mid-treatment and want to keep the exact same plan and doctors, but always compare it against a marketplace plan first.

3. A spouse's plan

If your spouse has employer coverage, losing your job may let you join their plan through their own special enrollment window.

How I can help

I'll compare your marketplace options against COBRA, check every subsidy you qualify for at your new income level, and make sure you're covered without a costly gap — all for free. If you've just lost coverage, reach out today so we can beat the deadline.

This article is for general educational purposes only and does not constitute insurance, medical, legal, or tax advice. Plan availability, benefits, and costs vary by state, carrier, and eligibility. Please consult a licensed advisor about your specific situation.