Unfortunately during the current pandemic we’re experiencing, some people are losing their jobs. While there’s hope to be rehired once this has passed, one of the immediate concerns is the benefits that go along with that job. Here are some options that may relieve a little bit of the worry and fear surrounding this.
Current Options for Health Insurance:
- Purchase Individual Health Insurance Plan – Losing a job with employer-provided coverage qualifies for the Special Enrollment Period (“SEP”) exception outside of Open Enrollment. Some may even be eligible for subsidies based on their income, which would offer premium assistance.
- Temporary Plans – These are also available if someone is only interested in more catastrophic coverage for a short period of time.
- Cobra – One’s employer (if they have 20 or more full-time employees) may offer this to extend coverage for up to 18 months after employment ends. It is recommended that anyone eligible for Medicare avoid this option but details can be discussed further on a case-by-case basis.
- Direct Primary Care – These are membership based clinics that focus on proactive, preventive care by establishing a relationship and individualized plan of care. They do not accept or file with health insurance companies and don’t include coverage for major health needs or hospitalization. However, it may be worth a conversation to see what they offer since it could be a lower cost option during tough times. Here is a map that shows where DPC’s can be located: https://mapper.dpcfrontier.com/
- If 65 years old and Medicare eligible – It’s most important to be timely in applying and seek guidance on Advantage Plans, Supplements, and Prescription Drug coverage. It’s best to start this process around 64.5 to avoid any potential penalties financially.
We are happy to help navigate these options to see which is the best fit for your needs, whether it’s temporary or long-term. Please reach out anytime at (352) 371-7977 or email@example.com. Stay safe!