Contracting an infectious disease isn’t the only health-related crises that is stemming from the coronavirus pandemic. Widespread economic fallout has caused many Americans to lose their jobs. If you have health insurance through your employer and lose your job, that’s likely gone too.
This leaves many people searching for options. While they may still be unaffordable for many, there are some options.
Seth Denson from GDP Advisors joined the show to talk health insurance after a job loss and what people can do to get care.
Denson says the first option maybe be COBRA, which allows you to keep your insurance after losing your job. Unfortunately, many COBRA plans are extremely expensive. Denson says its important to see if your employer offers COBRA subsidies.
If COBRA isn’t an option, losing your employer-provided health insurance is considered a qualifying event that opens up a special enrollment window to get health insurance through “Obamacare” programs. Timing is important as you only have 30-days to enroll.
If your income has taken a hit, you may even qualify for Obamacare subsidies.
Seth Denson is a healthcare market analyst and the author of The Cure, a Blueprint for Solving America’s Health Crisis.
For more information visit gdpadvisors.com