Employer health insurance is the second most common health insurance option nationwide, behind private health insurance. In Westerville, OH, thousands rely on their employer’s health insurance for medical care. If you or your employer ends the work relationship, your health insurance coverage may be at risk. While it’s true that your health insurance typically ends with your job, there are options to maintain coverage.
How Long Does It Take for Employers to Discontinue Health Insurance?
The timing depends on the employer. In some cases, employer health insurance ends immediately after termination. In other situations, coverage continues until the end of the month. For example, if you leave your job on June 15th, your coverage may last until June 30th and expire on July 1st.
What Are Your Options for Keeping Health Insurance Active?
The simplest option is joining your spouse’s or a family member’s health insurance plan. Two other options include enrolling in COBRA or the Health Insurance Marketplace at healthcare.gov. COBRA provides coverage for up to 18 months, but you must contact your former employer to set it up. Marketplace plans offer a Special Enrollment Period triggered by a qualifying event, allowing you to enroll until the end of the year. Both options require registration within 60 days of losing your job.
Additional options include joining Medicaid or Medicare. Medicaid is a low-cost health insurance program for low-income families, while Medicare provides coverage for individuals over 65 for at least eight months. Lesser-known alternatives include:
- Short-term health insurance
- Mini-COBRA
- Insurance plans from professional organizations and associations.
If none of these solutions work for you, Associated Insurance Agencies Inc. can help you find affordable health insurance. We’ll sort through the plans offered by our partner carriers and help you select one that closely resembles your previous coverage. As long as you pay your premiums, this coverage can last much longer than employer-provided health insurance. For more information, contact Associated Insurance Agencies Inc. in Westerville, OH.
