If you’re leaving your job, you may be wondering what will happen to your health insurance. Here are a few things to keep in mind.
If you have a health insurance plan through your employer, you may be able to continue that coverage for a period of time after you leave your job. This is called continuation coverage, and it is required by law in most cases.
There are two main types of continuation coverage:
COBRA: This is a federal law that requires employers to offer continuation coverage to employees and their families for up to 18 months after they leave their job.
Mini-COBRA: This is a state law that requires employers to offer continuation coverage to employees and their families for up to 36 months after they leave their job.
If you’re leaving your job, be sure to ask your employer about your continuation coverage options.
In addition to continuation coverage, you may also be eligible for a special enrollment period. This is a period of time when you can sign up for a new health insurance plan, even if it’s outside of the open enrollment period.
To be eligible for a special enrollment period, you must have had a qualifying event, such as losing your job-based coverage.
If you’re leaving your job, be sure to ask your employer about your health insurance options and whether you’re eligible for a special enrollment period.
If you’re leaving your job, you may be wondering what will happen to your health insurance. Here are a few things to keep in mind:
If you have a health insurance plan through your employer, you may be able to continue that coverage through what’s called COBRA. COBRA is a federal law that allows you to continue your health insurance for a limited time (usually 18 months) after you leave your job.
COBRA can be expensive, though, because you’ll have to pay the entire premium yourself (whereas your employer probably paid part of it when you were working).
If you’re leaving your job to start your own business, you may be able to get health insurance through a professional association.
If you’re not eligible for COBRA and you don’t have a professional association you can join, you’ll probably have to buy your own health insurance.
There are a few different ways to do this. You can buy an individual health insurance policy, which may be more expensive than a group policy but will probably give you more flexibility in terms of what kinds of coverage you can get.
You can also join a health insurance buying group, which is a group of people who band together to get group discounts on health insurance.
Finally, if you’re married, you may be able to get health insurance through your spouse’s employer.
Whatever route you choose, make sure you do your research and compare different health insurance plans before you make a decision.
