Worried about Health Insurance Coverage? Here’s What You Need to Know

Losing a job can be stressful, and it can be even more challenging when you’re worried about losing your health insurance. If you’ve found yourself in this situation, don’t panic. There are options available to help you get the coverage you need.

What is the Affordable Care Act (ACA)?

The Affordable Care Act, also known as Obamacare, is a healthcare reform law that was passed in 2010. The ACA has made it easier and more affordable for people to get health insurance.

Open Enrollment vs. Special Enrollment

Open enrollment for ACA health insurance plans typically runs from November 1st to January 15th. However, if you experience a qualifying life event, such as losing your job or moving to a new state, you may be eligible for a special enrollment period.

Special Enrollment Periods

There are a number of events that can trigger a special enrollment period, including:

Losing your job and health insurance
Moving to a new state
Getting married or divorced
Having a child
Losing Medicaid or CHIP coverage

If you experience one of these events, you have 60 days to enroll in an ACA health insurance plan.

What if I Miss Open Enrollment?

If you miss open enrollment and don’t qualify for a special enrollment period, you will not be able to purchase an ACA health insurance plan until the next open enrollment period. However, there are a few things you can do to protect yourself:

Shop for a short-term health insurance plan. Short-term health insurance plans are not as comprehensive as ACA plans, but they can provide you with some coverage in case of an emergency.
Look into state-based health insurance programs. Some states offer their own health insurance programs for people who don’t qualify for ACA plans.
Contact a licensed health insurance agent. A licensed health insurance agent can help you explore your options and find the best plan for your needs.

What to Do if You’re Freelancing

If you’re freelancing and don’t have access to health insurance through an employer, you can still get covered through the ACA marketplace. You will need to provide an estimate of your income for the year, and you may be eligible for premium subsidies to help lower the cost of your coverage.

Don’t Give Up

If you’ve lost your health insurance, don’t give up hope. There are options available to help you get the coverage you need. By understanding the ACA and your rights, you can protect your health and financial well-being.