A common question we often hear is “can I buy health insurance without a job?” And the answer is yes, if you have the sufficient funds to make the monthly payments, an insurance company will provide coverage.
But there are a few alternatives if you don’t have enough money. So today we’re going to look at all the other options.
If you’ve recently lost your job, you can apply for COBRA coverage. The acronym stands for the Consolidated Omnibus Budget Reconciliation Act, and Congress enacted it in 1986. This program aims to extend your employer health insurance for up to 18 months after you’ve left the company.
So you can virtually enjoy your regular benefits for a considerable amount of time after you’ve left your position. One unfortunate downside though is that it’s rather expensive because you’ll have to pay the full premium. For more information, you can always check out our page on COBRA health insurance.
A small percentage of Americans live below the poverty level and can’t afford to buy a health insurance plan. In this case, they can rely on Medicaid, a federal program that’s administered by each state. For example, eligibility in California will differ compared to Alabama, so check your state-based page here on HealthQuoteInfo.com.
If you’ve missed the Open Enrollment Period, you can always purchase a short-term health insurance plan. These policies can provide varying degrees of coverage, ranging from a few weeks to 11 months. Although it’s important to understand that short-term insurance plans don’t adhere to the Affordable Care Act. Therefore they won’t cover your pre-existing medical conditions.
Individual Health Insurance
If you’re not interested in purchasing a health insurance plan through the Affordable Care Act, you can always explore private individual or family plans. You do not have to wait for the Open Enrollment Period, and you can phone an insurance broker and start discussing different options.
We understand that health insurance is a complicated subject, so if you have any questions or concerns, give us a call at 1-855-614-5057 or visit HealthQuoteInfo.com.