I lost my job, does that mean I don't have health insurance anymore?

Asked by Gina

2 Answers

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Answered by Fran Chamberlain, Insurance Agent in Nanuet, NY
Gina,

The quick answer is no. If the company you worked for has more than 20 full time employees, you are eligible for COBRA coverage. The Federal Consolidated Omnibus Budget Reconciliation Act (COBRA) allows you to continue group coverage for a limited period of time.

If you qualify for COBRA, you should have been given a notice stating your right to choose to continue benefits provided by the plan. You then have 60 days to accept coverage or lose all rights to the benefits. Once you select COBRA coverage, you may have to pay 100 percent of the total insurance cost, plus a two percent processing fee.

If your former employer had less than 20 full time employees, there is a continuation plan similar to COBRA available through the state. Your employer can provide you with information about this option. | 11.01.13 @ 17:37
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$commenter.renderDisplayableName() — {comment} | 12.08.16 @ 18:38
Answered by Gordon Kushnick, Insurance Agent in Seattle, WA
Additionally, the loss of employer sponsored coverage does create a qualifying event which would allow you to enroll in an individual plan even though the open enrollment window is currently closed. | 06.25.14 @ 18:55
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$commenter.renderDisplayableName() — {comment} | 12.08.16 @ 18:38
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