The situation can change in an instant. Several companies still provide their furloughed employees health insurance. Others offer COBRA coverage for a particular period. The CARES Act also has several provisions for incentivizing employers to maintain their workforce, including retention credits for employees.
Join a Family Member's Policy
If your parents or partner have health insurance, you can join them in their policy in 30 days after you lose your coverage - just make sure you are below 26 years old. Most of the time, your spouse or parents will have to purchase extra costs of the premium, but it will most likely be the least costly option for your replacement coverage.
COBRA (Consolidated Omnibus Budget Reconciliation Act) allows family members, their eyes, and workers to continue the employer's group health insurance premium for a specific time in the events of reduction in hours, job loss, and other significant instances.
The law applies to any group health plans that employers maintained with more than 20 employees. You may want to call your health insurance company to discuss your COBRA rights.
Purchase Short-Term Health Insurance
If you cannot purchase a policy through a specific means or a particular enrollment period, you should consider short-term insurance. You can directly buy these policies from brokers and insurance companies in several free states. You can try to search "limited duration health insurance" along with the state you reside in, and it will immediately show a list of promising companies.
Unfortunately, you cannot purchase these policies in Vermont, California, Rhode Island, Colorado, New York, Connecticut, New Mexico, Hawaii, New Jersey, or Massachusetts.
Secure yourself with health insurance policy as soon as possible, especially in the middle of a coronavirus pandemic. Choose any of the options above, and you will not only save money but also possibly, your life.
At Roper Insurance Services, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (828) 697-6709. Get your free quote today by CLICKING HERE.