Unemployment Health Coverage & COVID-19
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A gap in employment doesn’t have to mean a gap in health insurance coverage. Many of us are experiencing unprecedented changes in our lives, and we’d like everyone to know that PolicyAdvantage.com is providing more support than ever before online to individuals, families, and companies.
From restaurants, to schools, to construction companies, and more… many industries are having to work with reductions in hours, furloughs, wage reductions, and temporary layoffs.
During uncertain times, PolicyAdvantage.com has you covered. If you’re currently dealing with unemployment, there are options available to you regarding your health coverage. Here are the important things you should know:
- COBRA. You may be able to continue your exact group plan for up to 18 months, but COBRA can be expensive.
- Individual/Family Health Insurance Plans. Once you lose your group/employer sponsored health insurance plan, it opens up a “Special Enrollment” period in the individual and family plan marketplace. This special enrollment period is time sensitive (usually 60 days from loss of group coverage), and you’ll want to look into this right away.
- Covered California Health Insurance Plans. Like individual and family plans, you can look into Covered California plans. Once you lose your employer sponsored health insurance coverage, a 60 day special enrollment will start. IMPORTANT: state and federal unemployment income DOES count towards your MAGI (modified adjusted gross income), which is used for calculating your eligibility for premium assistance. Because of this, you and your family could be eligible for assistance that could substantially reduce the cost of your plan. As mentioned, this is also time sensitive, so you’ll want to look into this as soon as possible. Policy Advantage Insurance Services is a Covered California Certified Agency, and we can help you navigate.
Utilize our online options. Our licensed agents are literally just a direct message away through our chat feature at PolicyAdvantage.com, or at any of our social media channels. We’re able to provide you with information, consultation, quotes, and applications via email in the comfort of your own home or place of business.
Thanks for stopping by, we hope you found our information to be helpful. Check back at our blog to get further information about funding healthcare. Also, please share with your friends, clients, colleagues, and family. Here are a few of our other information outlets:
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