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How to Get Health Insurance During Coronavirus

Most working-age people in the United States get their health insurance through their employers. This means a job loss during the COVID-19 pandemic could mean losing your health insurance.

In past economic crises, options for purchasing affordable health insurance were limited. But provisions in the ACA, together with actions taken recently by Congress and some states, mean more chances for getting coverage. Here’s a guide to the options, which vary depending on your circumstances.

I Just Lost My Job-Based Coverage, But I’d Indeed Like to Keep It

You can keep your health insurance coverage for as long as 18 months under the federal law referred to as the Consolidated Omnibus Budget Reconciliation Act (COBRA). But only if you are ready to pay as much as the total amount of your premium (monthly fee) — both what you usually pay and what your employer had contributed toward your premium.

Though particular situations differ, COBRA coverage tends to be more expensive as compared to coverage in the Obamacare marketplaces. It may be the best choice for individuals in the middle of treatment for an acute or chronic condition since it will allow you to keep seeing the same doctors. Your employer may also be willing to fund some of the monthly costs for a period.

I Just Lost My Job with Benefits, But My Family Still Has Some Income

If you lost your job-based health insurance plan recently, you can qualify for a special enrollment period to purchase insurance on the Affordable Care Act marketplaces. Coverage there is subsidized on a sliding scale depending on income, and there are many choices of plans in most markets.

To look at your choices, Healthcare.gov is a good first stop. Some states list insurance plans on their websites, but the federal site will point you in the right direction.

Depending on which state you reside in, you may be required to provide documents showing that you recently lost your job. You may also be required to prove that your income is now lower than it was when you filed your previous tax return in case it has fallen. During the calculation of your income for this purpose, you should include any unemployment benefits you are receiving, as well as the additional $600 a week that will be paid temporarily under the new economic relief legislation. You do not require to include any stimulus payment you get from the government.

I Currently Bought Obamacare Insurance, But I’m Making Less Money Than Usual

The subsidies individuals get for insurance in the Obamacare marketplace are calculated at the start of the year, based on estimated income for that year. However, if you bought insurance and your income changes, you can go back to the marketplace and change. You may need to provide documents proving the income change, such as a termination letter or a recent paycheck.

Your subsidies will be settled at the end of the year as soon as you file your taxes. If you miscalculated and received a lot in subsidies, you will have to repay the difference then.

Resources and References:

• Coronavirus Pandemic Stimulus
• Consolidated Omnibus Budget Reconciliation Act