Health insurance for the unemployed

How to get health insurance without a job

There are several ways to maintain health insurance coverage while unemployed. To ensure that you can find affordable health insurance between jobs, it’s important to know your coverage options and understand which plans align with your care needs and budget.

ACA Marketplace Health Insurance 

The ACA established the Health Insurance Marketplace, an online resource for finding affordable health plans. The Marketplace is designed to offer a range of insurance options that cater to different health needs and budgets, making it a valuable tool for those seeking health insurance while unemployed.

Marketplace plans offer financial help, also known as subsidies, for individuals and families that qualify. Based on income and household size, subsidies may greatly lower the cost of the plan premium and out-of-pocket expenses for care. This makes Marketplace insurance a good choice for those dealing with the uncertainty that comes with job loss. 

You can also purchase ACA health coverage directly from an insurer, also known as an off-Exchange health plan. But with this path, you cannot receive subsidies to help lower the cost.

Medicaid for the Unemployed

Medicaid serves as a critical safety net for millions of Americans, offering health coverage to those with limited income and resources. If you find yourself unemployed, you may qualify for Medicaid depending on your current financial situation. Medicaid provides coverage for a variety of healthcare services at little to no cost to the member, including doctor visits, hospital stays, and preventive care. 

Extend Your Health Coverage with COBRA 

The Consolidated Omnibus Budget Reconciliation Act, also known as COBRA, offers a way to extend your health insurance coverage through the plan you had with your previous employer. COBRA may cost more because the employer typically stops contributing to the cost of the health plan. However, it can be useful because it lets you keep your insurance until you find a new plan.

Choosing COBRA means you can continue to access the care providers and benefits covered under your former employer's plan. This can be very helpful for those undergoing treatment or managing chronic conditions.  

Navigating health insurance options during unemployment may seem overwhelming, but it's important to remember that there are resources and programs designed to help. By exploring Marketplace plans, Medicaid, and COBRA, you can find a solution that ensures you and your family remain protected.

Financial help: low-cost or free health insurance for the unemployed

The American Rescue Plan increased subsidies that can be applied to Marketplace health insurance plans. This significantly lowered the cost of premiums for millions of Americans, including those without employment. This initiative helps millions of individuals and families access quality health coverage without the burden of high costs. An estimated 9 out of 10 people nationwide qualify for financial help to lower the cost of their health plan.¹ In some cases, you may pay as low as $0 or $1 in monthly premiums for a Wellpoint Individual and Family ACA plan, depending on where you live.²

The ACA also provides income-based health insurance subsidies that can help lower your costs for care. For those who qualify, Cost-Sharing Reductions (CSRs) are extra savings that can help reduce out-of-pocket costs for care. CSRs can lower your deductible, copays, coinsurance, and out-of-pocket maximum. 

For people who have lost their job and their employer-sponsored coverage, healthcare subsidies can help make Marketplace health insurance more affordable. These programs are often income-based, so if you find yourself without a job, it’s important to research the subsidies you may qualify for based on your financial situation, household size, and type of plan you are looking for.