More than 10 million people have filed for unemployment after losing their jobs during the corona virus outbreak. About half of those people depended on employer=sponsored heal plans for their health insurance coverage. If you are one of those people, don’t fret, there are options to get you covered.
What happens if I don’t have health insurance and I need to be treated for coronavirus?
While testing is covered, if you require inpatient care for coronavirus, you can expect to pay tens of thousands of dollars if you are uninsured or if you receive care out-of-network, according to recent analysis by independent nonprofit FAIR Health. If you don’t have that amount of cash lying around, you’ll want to shop for health insurance to make sure the virus, should you be exposed, doesn’t destroy you financially.
Do I have to wait for open enrollment to choose a plan?
No. You should qualify for a Special Enrollment Period (SEP), as loss of employer sponsored health insurance is a qualifying event for an SEP. You might need to submit documentation to confirm your loss of coverage. You have 60 days from the qualifying event to choose a plan. It’s possible to avoid a lapse in coverage if you apply in advance of losing your health plan, but if you’re applying after your coverage ended, the new coverage will take effect only after your application is completed.
While COBRA sounds like the hassle-free option that provides the same coverage and the same doctors as your previous plan, it is way more expensive to you than your Group Healthcare Plan.
Instead of finding out too late that COBRA doesn’t work for you, find a healthcare plan that fits you and your families’ individual needs. DFW Direct Insurance can help you sort out these options and compare plans side by side, and we can help you calculate subsidies and tax-credits as well. Whatever you do, don’t throw your hands up and give up. DFW Direct Insurance is here to help you make an informed choice about what’s best for you and your family we also offer PPO network short term medical policies with immediate effective dates that do not require any proof of loss of coverage.