How to Choose Health Insurance Market Place Unemployed Options

Have you recently lost your job and need to figure out health insurance?

Are you a stay-at-home parent trying to find health insurance coverage for your family?

Do you need to figure out health insurance while you’re waiting for retirement?

Being unemployed – whether by choice or not – comes with its fair share of hurdles. One of those hurdles happens to be health insurance.

But most people don’t know that the health insurance market place has unemployed options.

This blog looks at the different options for unemployed people in the market place and how they might benefit from the health insurance market place unemployed options.

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Health Insurance Market Place: Unemployed Options Overview

Depending on where you’re at in your unemployed status, you may or may not have had health insurance coverage recently. There are a few things to keep in mind about getting coverage through the health insurance market place:

  • Open enrollment: If you don’t qualify for a special enrollment period, you’ll need to apply for health insurance market place unemployed options during the open enrollment period. That is from November 1, 2020, to December 15, 2020, for coverage beginning January 1, 2021.
  • Special enrollment periods: If you’ve recently lost your health insurance through your job or you’ve had to move as a result of your unemployment, you may qualify to enroll for health insurance market place unemployed options during a special enrollment period.
  • Medicaid/CHIP: If you think you may qualify for Medicaid or CHIP coverage, you can apply for the health insurance market place unemployed options at any time. There is no open enrollment or special enrollment period needed, and coverage can begin immediately.

This can seem a little bit confusing at first, but if you aren’t sure whether or not you qualify for a special enrollment period, the health insurance market place website has a screening tool that can guide you through the process.

It’s also good to know that if you do not have health insurance, there is no longer a penalty being applied. This is good news for people with limited income.

The Best Unemployed Options from the Health Insurance Market Place

Now that you know when you are eligible to apply, take a look through these common situations to see which health insurance market place unemployed options are most appropriate for your situation.

1. For People Who Recently Lost Their Job

The good news for people who recently lost their job is that they likely qualify for a special enrollment period. If you previously had health insurance coverage with your employer and have lost it, use the health insurance market place screening tool to see if you can sign up through the market place.

A Fiorella Insurance Agent can help you choose insurance that’s right for you.

Depending on your household and family income situation, you may qualify for premium tax credits. These tax credits can be used to offset the monthly premiums you need to pay for health insurance through the market place.

2. For People in Between Retirement

Unless the head of your household has passed away or you have recently moved, you may not qualify for a special enrollment period if you are in between working and retirement. However, if you had health insurance coverage through a job and lost that recently, you may still be able to enroll.

If you retired before you qualify for Medicare, you’ll most likely want to look through the health insurance market place unemployed options. Being without health insurance while you’re unemployed can ultimately cost you a small fortune.

3. For Parents Who Stay at Home

Parents who stay at home are in a unique position among unemployed people – not only do you need health insurance for yourself, but you need health insurance for your children, as well. If you’ve had a recent birth or a new adoption or foster child, you may qualify for a special enrollment period.

If you are low-income, your children may qualify for CHIP through the market place. This is a practical way to get coverage for your children during a time when funds are severely limited. No special enrollment period is needed to qualify for CHIP.

4. For People with a New Disability

Anyone with a new disability likely has a lot on their plate. If you fall into that category, there are still options for you. If your disability caused you to lose your job and health insurance coverage, you may qualify for a special enrollment period.

And if you begin receiving disability payments and your income changes, you can update your information through the health insurance market place to see if you qualify for any premium tax credits or savings.

How to Choose Health Insurance Market Place Unemployed Options

Choosing health insurance market place unemployed options doesn’t have to be overwhelming. In fact, once you are eligible to get coverage, the process is pretty simple if you follow a few quick steps and pieces of advice.

Here’s what you need to do to choose health insurance market place unemployed options:

  • Fill out an online application: You’ll need to provide some basic information, like your household situation (including dependents), personal identifying information, and employment and income information.
  • Submit any required documents: Some people won’t need to provide any documentation, but others will have to verify things like their citizenship status or yearly income statement. You’ll be able to submit these through the online portal.
  • See if you qualify for tax credits: Depending on your household information and dependent status, you may or may not qualify for premium tax credits. If you do, you can apply them automatically to your monthly premiums.  
  • Review and compare available plans: Once you’ve completed your application and submitted all required documents, you’ll be able to review all of the available plans in your area. You can compare plans in the online portal, making it easy to narrow down your options.
  • Choose the right plan for you: If you’re moderately healthy, you may be able to get by with some of the plans with lower premiums. However, if you have any complicated medical issues, you may be better off budgeting for one of the plans with better coverage.

You can estimate your medical expenses in the online portal as well when you are comparing plans, so take advantage of that feature to help choose the right health insurance market place unemployed options for you.

And if you’re having trouble figuring out which options may work best for you, or which options are available to you, consider working with an insurance agency. They can provide feedback on the best health insurance market place unemployed options.

Fiorella Insurance broker or agent can help you figure out what information you’ll need, what documents to submit if you need to, and decide which plan is best for you and your family.

Need help finding the right health insurance for your situation? Fiorella Insurance Agency can work with you to find the right health insurance market place unemployed options.

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