The train wreck for many related to healthcare (insurance) coverage is fast approaching! Most laid-off workers who lost health insurance due to losing their jobs will soon face the first deadlines to qualify for Obamacare coverage under the Affordable Care Act (ACA). It is distressing to see that the majority don’t even know they are about to miss their “Special Enrollment Period” or SEP, as they only have 60 DAYS to get it done!
Taxpayer-subsidized ACA health insurance plans are available for a reasonable
cost — sometimes even for a $0 premium (with a subsidy), but the real problem is
that few people seem to know how to find it, how to qualify, or who to turn to
for help. For those who lost their health insurance as layoffs surged (around
April 15), their 60-day “special enrollment” period closes soon, (around June
It is estimated that nearly 27 million workers and family members had lost job-based health coverage shortly after the onset of the Coronavirus pandemic (according to the Kaiser Family Foundation) and that number will likely increase with unemployment claims mounting. There are so many today without health insurance (who could qualify for a low or $0 premium) who are heading for a big train wreck – in so many ways, especially financially. Having no insurance can be catastrophic to anyone.
Nearly 80% of the newly uninsured would likely qualify for some sort of coverage under ACA/Obamacare (according to the KFF), a short-term medical plan, a catastrophic plan or even Medicaid. If you miss the SEP deadline for Obamacare, you’ll have to wait until the next Open Enrollment period in November to enroll (for a Jan 1 effective date), provided you don’t get your employer-sponsored plan back.
There is help – no one needs to be stuck without having essential healthcare coverage. Just remember, anyone losing their job with healthcare coverage ending…let’s say on Apr 30, would have a 60-day SEP to enroll in ACA/Obamacare – be enrolled by JUNE 30, with a JULY 1 effective date. With many now having lower household incomes, they could qualify for a very low to $0 premium and have protection with essential health care coverage.
Don’t travel the road alone. Seek out a local licensed health insurance professional who can be your guide and offer assistance and the best strategy. Call on the pros at Owen Insurance Group at 833-693-6467 to get you the best coverage at the lowest possible cost.