LAS VEGAS - Sept. 18, 2020 -If you have recently lost your job or murmurs of downsizing are heard across your workplace, your first thought probably has to do with how you will keep up with your bills while seeking new employment. However, according to the Kaiser Family Foundation, about half of Americans, including nearly half of Nevadans, have health insurance through their employer.
While going without health insurance is always a big risk, it is particularly dangerous in the middle of a public health crisis. For those who have recently lost their jobs, there are several options that enable them to maintain health insurance coverage.
Five Health Insurance Options for the Recently Unemployed
COBRA Coverage
Depending on your former employer's policies, you may be able to extend your current health insurance plan through the Consolidated Omnibus Budget Reconciliation Act, or COBRA. However, this option is cost-prohibitive for many. While you are employed, your employer pays a significant portion of your monthly premium. If you choose this option after losing your job, you pay the full amount of your premium, along with a potential 2% administration fee.
Silver State Health Insurance Exchange
Losing health insurance due to job loss is a qualifying life event that opens a Special Enrollment Period to choose a plan through the Silver State Health Insurance Exchange. During this time, you can select a comprehensive health insurance plan similar to the one that you have through your employer. You'll only have 60 days from the date of your "Life Event" (losing group insurance coverage) to act, so it is important to act quickly to avoid being ineligible to enroll into a "qualified health plan" that covers pre-existing conditions. This may be a very economical option, as you may qualify for a federal subsidy (financial help) to lower your monthly premium.
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Nevada Insurance Enrollment
4260 W. Craig Road suite #150-A
North Las Vegas, NV 89032
(702) 898-0554
Website: NevadaInsuranceEnrollment.com
Contact
Nevada Insurance Enrollment
Shelly Rogers
info@nevadainsuranceenrollment.com
702-898-0554
