What to do if you lose your health insurance

Losing your health insurance can be a difficult and costly situation, whether it is from the loss of a job or other circumstances.

Here are a few ways to obtain coverage if you find yourself in a tight spot.

COBRA

The Consolidated Omnibus Budget Reconciliation Act, or COBRA, can allow you to continue receiving coverage through your former employer’s health plan. It can be expensive, as you have to continue paying the full premium.

However, the group rates may be more affordable than purchasing a plan on the health insurance exchange. COBRA coverage can last up to 18 months after leaving an employer-sponsored group plan.

See if you qualify for Medicaid

Medicaid enrollment is year-round, so you don’t have to wait for open enrollment through an exchange to pick a plan. Especially in the case of a sudden job loss or other significant financial changes, Medicaid can help keep you and your family covered.

There are special provisions for covering children, making Medicaid especially worth looking into for families.

Purchase a plan through the marketplace

If you leave your job for any reason, a marketplace plan can be purchased under the Special Enrollment Period, which begins the first day of the month after you lose your insurance.

Other qualifying situations include: the expiration of your current plan, such as COBRA, moving to an area outside your current plan’s service area, losing Medicaid because your income increased or moving back to the country after living abroad.

Pay out-of-pocket

This is the last and most expensive solution. If this is your only option, visit a walk-in clinic for minor health care needs. Let your provider know you will be paying out-of-pocket and you may be able to negotiate a special rate or a payment plan.

Working with a patient advocate can also help you to navigate the process, find outside financial resources and help lower the costs or negotiate a payment plan with a provider.