One more health insurance lifeline was cut off yesterday. For the last couple of years, the federal COBRA health insurance subsidy had been helping laid off workers stay on health insurance by paying up to 65% of their COBRA health insurance premiums, but the last extensions for the subsidies are expiring this month. Without any more extensions from Congress, laid off workers have been steadily falling off of the subsidy rolls for the last year, and the last recipients of the COBRA health insurance subsidy watched their lifeline to affordable health insurance disappear yesterday.
The COBRA health insurance subsidy was a godsend to the thousands of unemployed who received it as part of the economic stimulus package. First passed in February of 2009, the COBRA health insurance subsidy gave the thousands unemployed during the economic downturn an affordable way to maintain their health insurance for an extended period of time and hopefully, until they could find another job.
Generally, COBRA allows people who leave their job to keep their health insurance through their former employer for 18 months, as long as they pay the full health insurance premium plus an administration fee or 2-3%. However, with the full cost of a family health insurance plan averaging over $13,000 annually, health insurance even through COBRA isn’t affordable to most on an unemployment check.
By subsidizing up to 65% of the COBRA health insurance premiums of those who were laid off, the federal COBRA health insurance subsidy gave many unemployed Americans a realistic chance to maintain their health insurance until they could find another job with health insurance. However, the COBRA health insurance subsidy only lasts 15 months, and the last recipients of the COBRA health insurance subsidy saw their benefits expire yesterday.
What To Do for Health Insurance if Your COBRA Health Insurance Subsidy Expired
If your COBRA health insurance subsidy just expired, don’t panic! You still have some options for health insurance even without the COBRA health insurance subsidy. Here are some of your most likely health insurance options:
• Health Insurance through COBRA without the Subsidy. Even though the COBRA health insurance subsidy is expiring, you are still eligible for health insurance through COBRAfor another three months. Depending on your health status, age and if you have a pre-existing condition, this may be your best and most affordable option if you need medical care during those three months.
• Private Health Insurance. If you are young and healthy, your may be able to find an individual health insurance policy that covers your healthcare needs and is more affordable than health insurance through COBRA.
• State “Mini-COBRA.” 40 states offer so-called “Mini-COBRA” programs which supplement the main federal COBRA benefits. Mini-COBRA can provide additional health insurance benefits for up to 36 months but can also be an expensive option.
• Medicaid. If you are a low-income American, you may qualify for health insurance coverage through Medicaid.
• State High-Risk Health Insurance Pools. If you have a pre-existing condition and are turned down for private health insurance, you may be eligible for your state high-risk health insurance pool.
• Federal Pre-Existing Condition Insurance Plans (PCIPs). The new federal pre-existing condition health insurance pools under healthcare reform offer both more affordable and more comprehensive health insurance coverage than the state pools, but in order to qualify for a PCIP, you must have been uninsured for at least six months which mean that if you are coming off of your COBRA you will need to wait six months without health insurance to be eligible.
• The Children’s Health Insurance Program (CHIP). Even if you are unable to afford health insurance for yourself, your children may qualify for the Children’s Health Insurance Program (usually called “CHIP”).
Is your COBRA health insurance subsidy running out? Tell us about it!
Related posts:
- Unemployment Benefits Likely Extended, But Hopes Dim for COBRA Health Insurance Subsidies
- Last COBRA Health Insurance Subsidies End… So What Do We Do Now For Health Insurance?
- The COBRA Health Insurance Subsidy: What to Do If Your COBRA Health Insurance Subsidy Is Running Out
- State Medicaid Aid Looking Up But Chances For More COBRA Health Insurance Subsidies Look Bleak
- Death of Senator Byrd Dims Hopes that COBRA Health Insurance Subsidy, Unemployment Benefits Will Be Extended
Loading ...
[...] insurance that matches your needs can be a challenging one. There are plenty of companies, such as cobra health insurance and so many principles and conditions. And, if you are not an “optimum” client, you [...]
[...] insurance that suits your requirements can be a difficult one. There are many companies, like cobra health insurance and so many rules and conditions. And, when you are not an “optimum” customer, you risk [...]
[...] insurance that matches your requirements can be a tough one. There are numerous companies, like cobra health insurance and so many guidelines and conditions. And, if you are not an “optimum” customer, you risk [...]
[...] care insurance that matches your needs can be a difficult one. There are many vendors, just like cobra health insurance and a lot of rules and conditions. And, when you are not an “optimum” customer, you [...]
[...] insurance that fits your needs may be a difficult one. There are plenty of companies, just like cobra health insurance and a lot of regulations and conditions. And, if you are not an “optimum” customer, you [...]
[...] that suits your requirements may be a challenging one. There are many companies, just like cobra health insurance and a lot of principles and conditions. And, if you’re not an “optimum” customer, [...]
[...] insurance that suits your requirements may be a challenging one. There are many companies, such as cobra health insurance and a lot of rules and conditions. And, in case you are not an “optimum” customer, you [...]
[...] insurance that fits your requirements could be a challenging one. There are many vendors, such as cobra health insurance and numerous regulations and conditions. And, if you’re not an “optimum” client, [...]
[...] a health insurance that matches your needs can be a difficult one. There are so many vendors, like cobra health insurance and a lot of principles and conditions. And, if you are not an “optimum” customer, you [...]
[...] health insurance that matches your needs may be a tough one. There are plenty of vendors, just like cobra health insurance and a lot of rules and conditions. And, when you are not an “optimum” customer, you [...]
[...] insurance that fits your requirements may be a tough one. There are so many providers, just like cobra health insurance and numerous principles and conditions. And, if you are not an “optimum” client, you risk [...]
[...] insurance that suits your requirements can be a tough one. There are numerous providers, just like cobra health insurance and a lot of rules and conditions. And, in case you are not an “optimum” client, you [...]
[...] a health insurance that fits your needs could be a difficult one. There are numerous vendors, like cobra health insurance and a lot of guidelines and conditions. And, in case you are not an “optimum” customer, you [...]
[...] insurance that suits your needs can be a difficult one. There are plenty of companies, just like cobra health insurance and so many rules and conditions. And, when you are not an “optimum” client, you risk [...]
[...] a health insurance that suits your needs may be a challenging one. There are many companies, like cobra health insurance and numerous regulations and conditions. And, if you’re not an “optimum” client, you risk [...]
[...] insurance that fits your needs could be a challenging one. There are so many companies, such as cobra health insurance and a lot of rules and conditions. And, in case you are not an ? ?optimum? ? client, you risk [...]
[...] a health insurance that fits your needs may be a challenging one. There are many companies, like cobra health insurance and numerous regulations and conditions. And, when you are not an ? ?optimum? ? customer, you risk [...]
[...] health insurance that matches your needs can be a tough one. There are plenty of companies, such as cobra health insurance and so many principles and conditions. And, when you are not an ? ?optimum? ? client, you risk [...]
[...] insurance that fits your requirements can be a difficult one. There are many providers, such as cobra health insurance and numerous rules and conditions. And, when you are not an ? ?optimum? ? client, you risk becoming [...]
[...] that matches your needs could be a challenging one. There are plenty of companies, such as cobra health insurance and a lot of regulations and conditions. And, if you’re not an ? ?optimum? ? client, you risk [...]
[...] that matches your requirements may be a challenging one. There are many companies, just like cobra health insurance and numerous regulations and conditions. And, in case you are not an “optimum” customer, you [...]