Going without health insurance can leave you vulnerable to high medical costs.
Once your workplace health insurance ends, you may have a few different options to obtain insurance coverage, including: continuation of a current employer-sponsored health insurance plan for a period of time under the Consolidated Omnibus Budget Reconciliation Act (COBRA), an ACA-compliant insurance plan through a private insurer, an ACA-compliant insurance plan through the Health Insurance Marketplace (available through the federal government), joining a family member’s health insurance plan as an eligible dependent, and short-term insurance.
COBRA, when available, can be used to continue to use your recent employer-sponsored health plan for a limited time. You usually have 60 days from receiving your COBRA notice to enroll.
ACA-compliant health insurance plans, whether obtained through a private insurer or through the Marketplace/Exchange, must cover pre-existing conditions. They typically cost less than COBRA, and you typically need to sign up within 60 days of becoming unemployed (or other triggering event).
Short-term medical plans, where available, are typically less expensive but may provide less coverage than traditional ACA plans as they do not have to comply with ACA mandates.
Learn more about how to get health insurance without a job.