That means Americans without health insurance have a chance to check out their state’s health insurance marketplace options offered through the Affordable Care Act, also known as Obamacare, outside the normal Nov. 1 through Dec. 15 period. This can offer many Americans, particularly those who have dealt with unemployment amid the Covid-19 pandemic, another chance to get insurance. About 28.9 million nonelderly Americans were uninsured in 2019, the latest data available.
Although losing job-based health insurance qualifies you for a special enrollment period (even if you quit or get fired), it’s only available for about 60 days, and many people don’t sign up in time. It’s estimated that about 7.7 million workers lost their employer-sponsored health insurance due to the pandemic as of June 2020, according to the Commonwealth Fund. Including dependents, about 14.6 million people were affected.
The latest special enrollment period also presents a chance for those on a Consolidated Omnibus Budget Reconciliation Act (COBRA) health insurance plan to find a cheaper option. While employers cover about 82% of the plan costs for individuals and 71% for families, those on COBRA carry the total cost themselves, plus a 2% administrative fee.
Although a marketplace plan may be less expensive than COBRA, it still may not be cheap. Consumers should go in with realistic expectations.
Yet going without health insurance, even if you’re generally healthy, can be a big gamble. “The problem is, if you don’t have insurance, you might be able to piece together some care through free clinics. But generally, you’re not going to get great care,” (quotes from CNBC.com)
For those interested in the special enrollment period please contact Alexander Paul Co at (915) 478-2019 or leave us your information via our website and someone will get back to you as soon as possible. Please also visit my More Services tab where information can be found on Medical Gap coverage. This coverage is combined with major medical and can help with significant overall savings. Contact us for more information.
*Please contact our office for questions or assistance in enrolling in health coverage between November 1st, 2021 to January 15th, 2022. Alexander Paul Co also offers medical gap coverage. The two coverages combined may assist you with overall stronger medical coverage. Please see our other services tab for more information and help.