What Should You Do If You Lost Your Health Insurance?

There are a number of scenarios that can leave you without health insurance and it’s important to know what steps to take to protect your family. Medical bills can rack up and ruin your credit if you aren’t prepared.

There are 22 million people that recently found themselves unemployed with no warning. It is estimated that the real unemployment rate is likely nearing 18%, according to Fortune Magazine. Rather than wait for something catastrophic to happen, it’s best to research your options now. Most medical events are not planned.

So, what are your options? 

For anyone who has recently lost their job due to coronavirus, you should qualify for a Special Enrollment Period (SEP), as loss of employer-sponsored health insurance is a qualifying event for an SEP.

Cobra

This program, which gets its name from the Consolidated Omnibus Budget Reconciliation Act, allows you to extend your current employer-sponsored health insurance coverage for up to 18 months. Typically, you are given 60 days to sign up. But, Cobra is expensive. Many cannot afford to have Cobra unless they have already met their deductible and are in the middle of treatment.

Spouse’s Plan

If your spouse’s employer offers health insurance, this may be a great option to consider. Make sure to gather the details of coverage along with the costs.

Affordable Care Act Exchange Plans

Those that are newly unemployed can shop the ACA exchange to find new health insurance. Losing your employer-sponsored insurance is one of the qualifying events that allow you to sign up within 60 days of losing your job, without having to wait for the annual open enrollment period. You can find out if you qualify at healthcare.gov where you will also be directed to your state's exchange options.

Medicare

If you are 65 or older and haven’t signed up for Medicare Part B because you were still working and still covered by your employer's plan, you will be eligible for Medicare Part B sign-up if you lost your employer coverage. To get started click here. 

Veterans

If you have served in the military and you were honorably discharged, under certain circumstances you may be eligible for coverage through the Veterans Administration (VA). The VA website offers an easy tool for determining your eligibility. There are a number of documents you will need when you apply; take time to check out the list on their website before starting your application. 

Impact Health Sharing

Truthfully, we want you to find an option that best fits your needs in your current situation. Impact gives you the freedom to join and cancel anytime.

There are no open enrollment restrictions, since Impact is not health insurance, but instead health care sharing.

With no contract, you are free to cancel as your situation changes. However, we hope you will join and stay!

One of the reasons our members join is due to the large cost savings each month.

What we know for certain is that the future is unknown and right now more than ever it’s important to save as much as we possibly can.

With Impact Health Sharing you can save money, but also have the peace of mind that your family will have a community to help in time of need. One of the amazing perks is that virtual doctor visits have $0 provider fee. 

If you have questions about how Impact Health Sharing works, we would love to speak with you! There are no pushy salespeople or robocalls, just another person wanting to walk with you through this journey of finding affordable healthcare.

Impact offers much more than health care, we are a community that believes in living a healthy lifestyle not only to live longer, but to be good stewards of our health care dollars.

Watch our video and learn about the details of how Impact works and why it may be the best healthcare solution you will ever find.

https://www.impacthealthsharing.com/our-solution